New Jersey 101.5 video archive
It seems like everywhere you look these days, another major retail store is closing.
Macy’s recently announced it’s closing 68 stores nationwide, including three in New Jersey, in Moorsetown, Voorhees and Wayne.
Another big retailer closing stores in New Jersey is Kmart. Closures are taking place in Clementon, East Brunswick, Pleasantville and Rio Grande.
JCPenney and Sears have also announced plans close hundreds of stores across the country although it’s not clear yet how many stores in New Jersey will shutter.
Radio Shack is closing at least 20 stores in the Garden State, and several drug store chains are also planning store closings, including CVS and Walgreens.
“It certainly represents significant churn in the labor market because we are having people being displaced by sort of the reinvention of retailing,” said James Hughes, the dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.
He noted “what is occurring really is omni-channel retailing, and it’s turned the world as we once knew it…