ESSEN­TIALS

Apparel Online - - World Wrap -

Many re­tail­ers in the past year, like US teen fash­ion brand rue21 Inc and

Toys “R” Us filed for bankruptcy that has not only shaken up the re­tail in­dus­try but has also led to a drop in new em­ploy­ment op­por­tu­ni­ties in the US. In fact, lo­cal jobs are a ma­jor ca­su­alty of what an­a­lysts are call­ing, the re­tail apoc­a­lypse. Since 2002, depart­ment stores have lost 4,48,000 jobs, a 25 per cent de­cline, while the num­ber of store clo­sures this year is on pace to sur­pass the worst depths of the Great Re­ces­sion.

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