It’s no secret that retailers are having a tough time this year. As of April, the industry was on pace for more than 8,000 store closings, a new record as competition from e-commerce has led to a declining need for storefronts. Retail stocks have also largely flopped this year, missing out on the broader market rally.
The SPDR S&P Retail ETF has fallen 6.9%, while the S&P 500 is up 10.6%.
