And there's nothing Scott Walker can do about it.
The apparel industry seems to have no solution to the dwindling dollars Americans devote to their closets. Many upstarts promising to revolutionize the industry drift away with barely a whimper. Who needs fashion these days when you can express yourself through social media? Why buy that pricey new dress when you could fund a weekend getaway instead?
Apparel has simply lost its appeal. And there doesn’t seem to be a savior in sight.
The move comes as Penney reduces its supply chain network, which "is oversized relative to its national store footprint," spokesman Carter English said. Penney is among department store chains that have been closing stores as the sector struggles with increased competition from online and discount retailers. (Or so they say.)