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Retailers Seen Closing Thousands of Stores Even After Pandemic
- U.S. could lose one in every 11 shops, UBS analysis finds
- Office suppliers, clothing sellers among the hardest hit
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U.S. retailers could shutter tens of thousands of stores even after the pandemic subsides, as shoppers continue to turn toward e-commerce, according to a new report.
Roughly one in every 11 stores will close in the next five years, with office-supply, sporting-goods and clothing retailers among the hardest hit, according to the base case in a UBS analysis Monday. In the most dire scenario, more than twice as many stores -- about 150,000 in total -- could close over that span.