With the string of retail stores closing since the start of 2017, there are mounting concerns the retail sector is in the midst of a crisis. Additionally, the potential inclusion of a border adjustment tax in a Republican tax reform plan is increasing fears of a dramatic decline of the industry. National Retail Federation CEO Matt Shay discusses the state of the industry and the potential impact of a border tax.

Though Shay agreed the numbers are concerning, he viewed it more as the impact of retail’s transition to e-commerce.

“I’d say we’re in a period of rapid transformation and serious evolution. And so, I saw a chart this week that showed that the public announcements of store closings just from…