By Diane Lincoln Estes.
Editor’s note: Likely by now you have heard the stories about the failing retail industry. In January, Macy’s announced it would lay off 10,000 workers in addition to its previously announced plan to close 100 stores.
And it’s far from alone. Sears, J.C. Penney and RadioShack have all announced more than 100 store closures. As we reported in our coverage of the July jobs report, general merchandise stores have lost 36,000 jobs in the past year while clothing and clothing accessories stores dropped 10,000 jobs in July.
So what’s happening to retail? For our latest Making Sen$e series, economics producer Diane Lincoln Estes spoke to Dave Gilboa, co-founder and co-CEO of Warby Parker, which sells inexpensive eyeglasses online and in brick-and-mortar stores.
Read more at PBS.