Research
May 4, 2016
Photo of VivaLuxury courtesy of Bergdorf Goodman
By Sarah Jones
As retailers invest in digital sales channels, it is eating into their bricks-and-mortar sales and earnings, according to a new report from HRC Advisory.
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","iv":"e7961f95d115687408ab203311552374","s":"191567dc059d4bd2"}
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