Many Department Stores Have Met Their Demise -- Kohl's Doesn't Want to Be One of Them
Remember Lord & Taylor? The once-popular department store and higher-end mall mainstay met its demise in the wake of the pandemic. And it's not the only department store that fans have had to say goodbye to through the years.
What it is about department stores that's made them so vulnerable to closing? For one thing, there's now a world of competition from big-box stores, many of which have ramped up their inventory and expanded their product lines to better match the quality department stores are known for.
Also, e-commerce remains a huge threat to physical retail. While many department stores have tried stepping up their own e-commerce games, many can't match the speedy, efficient shipping of online giants like Amazon.
Source Fool.com
