UBS news and archive

50,000 U.S. retail stores forecast to close over the next five years

The shopping mall may not be dead, but that hasn’t dented the number of retail stores expected to close over the next five years. Between 40,000 and 50,000 shops could be shuttered, according to figures from Swiss investment bank UBS. The outlook is slightly better than during the pandemic, when 80,000 stores were expected to close, but the high...

RetailFeatured

An estimated 80,000 US retail stores to close by 2026

A prognosis on the state of US retail shows 80,000 stores may close by 2026. The impact of the pandemic has shooed global consumers to shop online, with investment analysts at UBS estimating 27 percent of all goods purchased at retail will be made online by the end of 2026. That’s up 18 percent of total retail today. The store closures equate to...

RetailFeatured

Millennials willing to spend more on luxury, Gucci & Louis Vuitton most popular brands

Consumers born between 1981 and 1997, also known as the Millennial generation, are feeling positive about their personal finances. Consequently, they are planning on spending more on luxury. That’s according to a survey with over 3,000 respondents from the US, France, Italy and China, conducted by investment bank and financial services company...

Business

Project Entrepreneur to expand with additional 2 million dollar grant

Project Entrepreneur, the collaborative project from the Rent the Runway Foundation and investment bank UBS, which seeks to support female entrepreneurs with the objective of levelling the playing field for female founders, has received an additional 2 million dollar two-year grant from UBS. The additional funding has been committed to help...