American retail as we know it is dying

American retail as we know it is dying a slow and painful death

A man shops inside a Gap Inc retail store in New York.

Gap once ruled the retail world. But today America's largest apparel retailer is closing a quarter of its stores and laying off hundreds of workers after disappointing sales. 

Gap's closures are indicative of a larger trend in American retail.

Big apparel brands are grappling with shoppers who increasingly want deeply discounted clothes over classic logos and status.

As Americans shell out for items like iPhones and Netflix, they are increasingly unwilling to pay full price for sweaters and jeans. 

J. Crew just fired 10% of the workers at corporate headquarters as sales and profits continue to plunge. 

The teen-apparel market is also struggling as a whole, with big-name players like Abercrombie & Fitch and Aeropostale closing stores. 

Wet Seal, a shopping mall staple, abruptly shut down nearly all of its stores. Sears, Macy's, and JCPenney have also shuttered hundreds of store locations in recent years.  Continue Reading>>>>Here