Commentary
U.S. retailers were happy to put 2024 behind them. With a few exceptions, 2024 was one of the worst years on record for many retailers. Several well-known chains filed for bankruptcy and ceased operations, while many others closed hundreds of unprofitable locations in an attempt to stanch the bleeding. Across the board, retailer CEOs spoke of a challenging economic environment characterized by inflation-driven cost pressures, a constrained U.S. consumer, and the need for deeper discounting.
