5 things to know about Ohio stores closing in 2017

Credit: DaytonDailyNews

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Find out what stores are closing down.

Credit: DaytonDailyNews

Sales during the retail industry’s most important time of the year were below expectations and have already forced major retailers to close locations.

Here are five things to know about the retail climate in 2017:

1. The future doesn't look as gloomy as U.S. retail sales are expected to grow between 3.7 and 4.2 percent, according to the National Retail Federation's 2017 economic forecast, but that doesn't necessarily mean good news for traditional retail.

2. Online and other non-store sales will increase between 8 and 12 percent — most likely forcing additional closures of brick-and-mortar stores, including several in the Miami Valley.

3. BCBGMAXAZRIA announced it will close 120 stores across the U.S. over the next eight to 10 weeks. The only store impacted in Ohio currently is the outlet store in Monroe. All other BCBG stores will remain open as now. The BCBG location at the Tanger Outlets in Jeffersonville closed in June, according to a spokesman for the outlet mall.

» RELATED CONTENT: TAKE A LOOK AT THE BIGGER PICTURE FOR LOCAL RETAIL IN 2017

4. U.S. President Donald Trump could have an impact on the retail industry. NRF economists said the forecast is baseline, but does not take into account new fiscal measures that could be brought in by the new political administration.

Shoppers walk by the space formerly occupied by The Limited at The Greene Town Center in Beavercreek. KARA DRISCOLL/STAFF
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Shoppers walk by the space formerly occupied by The Limited at The Greene Town Center in Beavercreek. KARA DRISCOLL/STAFF

5. Local retail centers are adamant that new stores are entering the Miami Valley. At the Mall at Fairfield Commons, officials told this newspaper that several new stores have either opened or are on their way in the coming months including a restaurant and a chain jewelry store. Though The Greene hasn't announced any new retailers coming to the center, management said they are actively seeking new tenants.

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