Store closings present some opportunities

December 23, 2008 02:39PM

NBC’s Today Show looks at the country’s failing stores and what’s next for the retail scene. Analysts say the number of stores that have closed is more than was forecasted, and it will continue into next year. NBC News correspondent Michelle Kosinski said that 148,000 stores have already closed this year, and that that number could soon reach 170,000. On the upside, Kosinski said that as rents decline, stores may become affordable to smaller retailers that previously couldn’t afford higher rents. The retail market is expected to turn up in 2010, she noted.

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