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.
{"ct":"wzvRUX2seEatkQ47Fq0R4v\/g9hzomESDs2MVmN7zj0RmTWuDnyg441u8mW+4NL7OXsK2SRnazK1799XdbEqHsU+FMvJvOe6DCR\/+QU3rBP21j8bu6f2dburiMG2ZVagFN3Ni6x72dl4jIsClH7RMWcSmJkyWOStiTW3cJCOi49lX1yZgGzRQQvouKDTZYWZqexf6a+GtB6eAQOQpKhnxHniM5ewqagYWDKqPXlEXRY1HGnkDQgm5CLR3Rval5Ge9wlppn7KpcuOQ4FrrSh4miCX4uztmsbG9Gzty+zfVMeqwxlEa\/Mc4vJ6b9\/+MRmMiFPvfiynilufLIihIGg3IoRBl9YoBF3WheDe9jI29O4cRx2IWFTNVsZF82j+N96kBPBll8YUd+kznyjVEv3ULHX8nC7ByR9ZAgcd8SSZ3BT5rzF16bIoSH0UvOqjE1j8Tq\/t\/5svxyJIYKlUjeyO49Puj8pde98hfzhoOErHwrjbXu9LNK6i\/\/ooJO36PvB\/m5PBrNAR9q7ok1VFyhZQHauEZMU\/WZ6OrAFZ2QNcc+xgj638F6uU08Wj9jeHkkIz\/ifGtyLoLU+xqD71+nVwTHHILKyM9U+F2FPpET0L\/\/wM3PLaX6mldAJTnoIIXtJm9mJrxXe6mUb4xFachW9kRMd1ZZU1SWHaXB766xH+GXcwQeBAuAulZ0GE+3omb3MM87XX8KWi+6qr9NVWPOUwwaK2zBGD1ruMwTf1y48sv7iZ63Y8pFGJNwu24YBctFF6zS0\/BF9Rumj\/bOMTVt5yjcu5itWSAKpKUB9of8jaAVl5RNip2+8R8g1IImbn9nW55DmTGqswJYOi\/QEHSzlCYPgjIXDOOVJpyqfZ3RNCNid7lLVbiUNlHAFeaJamPVw54E0oD5zqtcIeeoAymvja8jwREbC17eVXAspLLqPnKCiVFdiYSOvG2FIc\/VZ1OkhSRC9Z1v7wZhVFhZsH8BfnCSocjGZopCR+y880rqRoteulN+u8MAFHIQiHxYia+2s41kn5MB1yB+xj5dGxRCtd378oPup1JWARRKyO9z3JMRJswjKaWKeR4AfL+70vaLXfwDFLkLaOfxwJTFxfFud1aDfqp7WrsyPirlmAo7uPChHnXi\/Xb9Y++Xt7XGc0dATlOIoChtaOuXA\/FrTesweZj2Hs+39Oe8PpeBDY6tw6rco6URVfrvkwEeqWDldzX4rxE4acgY5e4rtXwjEEirMI4Nba7IvcvhYzHoPf\/697NEm8+InaPI8iIPUrfoawwL5BwJhs\/pGuVGaTlpdP2IHaYkPNJAn5NXIAFgNFP2sHpXFais\/A5bxrNq1PbbSCscUNPH2LBY7g19BYskW1WKsDhR4zljnvev\/PwpSe6pED7of8+2A5eMeCAQAS59aPupfyzvGmbXJMYiGqEuI\/R8Zkb2J0A2oB69aQ0bZMEzxFeobNZiuW\/hynd\/fTSWMpMiw1W9SGDcxdb7Rm\/jcBAxuDj+XognPik4AKE2g9WvASGnmfe188JpxazoQL0RKwx7qOl3ABX\/1fNI9fTuJEdLutCaCEWCtwQo3K331sRr6wwCxtIdjCli0QhvjUQvjnvl1QVM0pyTW8U3gFJAu5CGBDSeKQ+QNclN342BZKr5ADt24XPYZrXkorvNFh+lJAV1WDrNkTy3upv6TZEK\/pG0Hnne2Yn9v3zUQOINer2cvwd3aLqZS5X\/SdKzCM89uJtYqOo87+Xwe11iG7l2lpV2ObNxwGotZRIrIfk+HQtwKQRimK03Ve3w50H3ZXwg05BK\/5WMDpH9SXNmSb\/772qEGqtAgrDsSb3C7Sf6GvEhjbRmKGriHIgypPbROaCNSzs8EwhfO\/INpU8eTnyKU7\/2bmdoKaT3Jm01+tY6eOutRi7TtfMwzSjNXgLwDjawikNnmYJ3+XEv22fhxRUNZuGFMspr5ggrpIYBT01dEn4kzjyhWel+mp09U6UgYlOYdCcAYjXPD3WMYPxHYqyxymWqA4YIs+MsXmdgSRzmGhKg5jm+o9aY9aa159m8L3tTQQtXFxbTXMfbZ5wQyJ2h4YUnEeNT4BcAOvwN6oyZQ4mbW3pzlRqStFqwTzvuILaxagrhIxBIzDVQt6AgFr\/ZJJAjsSkWB3q6a\/JfaTjhKzRF0y\/RRtJruYdyJJkciRQUF3ehheJQayC1JW9VGgFxxxhqAN93UvhB6gx7J\/M6LJpVGyj4luaXTmvpZrchQ8wOgPiXIV3UlW4emr+vw0dLKsBjc3UmBDA4HkZTkDIuMWkmwRgRZCf8yaUAJEu\/0T4aqcTQx64oyi5ZzkoLH0mEkKfJPhIaX+p0sh8KFx+cxV0DjzwR0m8WFNfbYdphmcsyroHreR7jAj8bHI\/1gDIimmcpY+NQMCvYr4DCFVojJu9sYofI34AubGuohEVu1pzi7zB3K8c0yvQMa2ncGvJOMv8qA93ZBLc0v4E3wXhhKvFvGwGYqEnv2IvTsTWV2qrBXVVOGPOlNMHHLItPXgcciLFkdNdjpQPQsD0BONiiQi6qKnbLENJ1B9wtXSV8CeS8v13YRCCaHLQc3mnhFBwl4sBb93JNeSQ9YToJ5j4GR882rkNuOfr4Q8QBiEtvnCAMKyWX64yMC0m1iRSsr0yZgK30jML0iCZd2Hj1qiMMCvsjatPnK4MmTuEGXk5t5GEpAXBnRg4cHFGyj0s\/+i6ikQCLnvTxhWPslwaR96YKCHXiZrhUez2TFYxDabiZviwKPWtoCxCltfn2iEWGJGLMuy+bZSagCL\/LsviVwQOs19GD\/6ucZcBu0FSOFHxx7FFemuCr3gZxU3k7yKvuoLUE1EV9YsY66V+\/9g6bpAmL6LDtrcqUd0hU\/qzd2wF3UlhKaO14gjSNZKKI45guJXbfaOO1c\/LfagyKrdM+WZdjNAnYsxc1E0NsYb1r5+xJLdbVa\/MvS996GFd6NJCktiu5AbP7HMPA6eCVKLaeC1Jn1uJPij8OeA6VuqMC\/n\/T04rILl\/hGj\/ty7RsEBeaUDshYwl4gdOgVM7KNDD+oodEC7dN5x1z+AhjoyNSi3Aalo8SKiW\/TLt+3XSyAeXeyeBvyLU583\/Gluxf9EiilgAH3vCKsvsGUYIQN1Hv9DNrUQKK4e82wnRo2lFR\/9RgjJvi\/WRK2NNcVVmolY\/h9COiHAs8iahCCtmhsoAQmirj\/MGMUwiedbDlB8F4KlitY\/GXttGQq8DSpZDLwC1SvOCsDKmUs+y7TLMIOrDmCeHvkpXKSgSge09f2Tf+ih9LHR1GIFgDzavm\/nP1TnSmmcLYH9iDxWXdINX2X08vh5098agAWQKT0ODSkkTOJonOatv+eNbX\/uZiROBVmyBFJdJHd3\/AGZ1z5ixHm\/B5kby+zD8M\/ouOiV22c2yq5qW7+ty3eTN8VTakCazEEOCmbzT\/bKB3aT8mxGMydKPqmOJg99+4cihuB0nevQ\/M9loM4uokHvYMsAmhsWoI\/YpVjqv5POGPKq8sfoS45cz9hGHhjN4bWMVasbbK2QatTUoIkm0kamVydwuKnad\/mH8PMdvjsBPXgQQrhMPLuVDmpuPR\/SXegptc\/yFMva4knBtINsJZzqMwvSrNEaVaPlSaEyJUEVI5DPGaaKbq44xaUlPnBW\/7RD+z+iNVFEpA8nkQCZewJjGhu273ChuSwnDULkXe\/vX6GT7jIkfG7ceukNBrJbrgwZegZtMm3ww0p4smQFTO4yCX0YJUlPTPGMme2AYFmHT1AUPfmaxv2wVeUDK1julAou51S0h5OFyVy\/cQNcSIs\/6OVVjORAlPawdLSUW32SJdeTiJ0UcuArOweMq2wQOvfaeFzKirsxqGH5ngcPXfyvy3rsOeOBtGJ84y1hFip2MGELirJED9RcGSccInw7KvjnsRjZVb\/AaD46mGkN3Uqgo9PLqwmIFobHhE2kWwwkmQjkZqEQhdeJ7lqF0kIB\/T7MQGh2Uli5Pd+cjzvpURw0Olud8oAScGZgg+zmX92+fM5SRwU+L4jWjebW6Wumw8vigidHJomy\/pkAIk3+Pt7FeELH3e3iKseOGIe+PHZ9ho\/YxbbXYNQQelusW\/ny27PNFoTd32EqBn4wZHv5HIxsk0zbzrakaiX2doy+kjhUgKoHJaVNKWqlxiwViOQcaCAtcCFvCVU2EEzWIdPjRprglaF2PMAYiwO0gvIhINr8etAgGTdrUgz3APpMabU4xfCUNKF2jlc2STsGW4KdhYJRFKojyuyXLrDPX7IuhYEDBT9j7ISNYdr2A66JGejgw8kNcK1ZHWT+eDqwKlmGKcpcE\/LMID3FgebQ2Nj81jCtJ05+XWTovAAOoaW+ZRprqeMhet6EtzxPV3W5sCarsQxqkYH\/0eOskEWmLpeLE05G4dE5DMIC65CK9M7udMa\/ImsklmAlcNEb7L9WsFGWUzrDGzAjuL\/1nOdN8PdJTf9lRKFQgJtdlkmysYQDwTdhDtNCUJeD7jQxN9yelMeaFBWvNdRy4HZy5Cm7oOGSKM4Q2Rs8oZeO8MzDlGd6tnMu2jiwxuaJ77k+jhpmuV7UWp8Nw0h6Kx706Ocs+ts3jUGnNWzPhZ0QF4+v+1QrK0yZFB5MJ83phLFJaG1tlh8peD+rZt7sJYtGcOdFrMUfEpZ88nfVUoFxPLpY1vMY7BUD6IIXI\/JcWOoEiggPF1RRhVAX3iH0kZPFSE5MSNyLbl5C1YFcOT33Blxwm7nclCvrmfD23kbWFapJUceAYlltDoh\/MDCO0hwYVWy8FzmXa3WtFZentSeg\/oacojXI9gFSgPvZLbaOY2FdsSSSViQ4bCT0NpaFWtK8XJuJjkomI+LpjqS8hy36bsFbMCdJI\/fAVo6dWsRPoYx5Sb4bTCu0X5GTpgPQ\/l\/CFRCo9FE\/qEECqQHWPuBZelY\/a9VMc0OhXALpHsZ2cuRjorUxsX+cE1lFq970XpaAPoYXQuFCdw7yp1\/4SrDCw7P6rd0jjSRp7T2wtmK2PMBuBM+M5Me83kD8FW4CZi3IPhDBnWAgkS4InERtBQQZXeX7jVlSwxGLNoBUq+dOzj0jU2n\/bzMFbGjw3PQY\/7Hr3bw31icZ+RgAmBRpxu\/zVix0fLDBCfScVBbhFv9TAHP07rN54eXm7EpxFCLlz+eAao8QWEqC\/gg8O2xRkA\/G1kIA68xBlrrQ5Ih2BhpoIKAVBJCCe\/r9Cy6QDD16L54HXqgcMKpHPcGGo2nTmc5syLpkTpR+fNsu2ffuSImaIO2j1UMWENwlFUB83CpvAB9pnzbZeOA87gdvFOec2M0a0XTg4xyHCGa\/IBpGmy6cGQEdJMOMJdAWXYDJx1NrKaYcUx5hUQEw\/ZhQhcBlD52iuKLYReBe7m0q9QlPlQFP+w7g1xb9WvLv59iVtYKskSpl\/jdlD\/vfeEVU968AFZo981joI+A2uaoS9zI82hQa2cP+qF9d6Ly2\/6kL03DmTSrr4jkehJ2sC8sbFWkNr2hRCWv3ScL7wqausELKdxU4uOKATRb3QWHC\/xb60C2F3BBaz5nsukd9DFV2C9GP0BAbWyTHTpRQV2BLM2M\/H8wb7R2LWtkgFCGkI0ckpb1JNXOB0uFpSwHA8PkFC5gnqwDleku9PFnbF42o6ubWumAKIQUj7SLTB53rddR6586o58qs0mSkk0Gl0XCKaBxYy0cByR5vU\/aaQqynVpJT8Myk\/46OUGYtDhTpvLuY+NKoQwsIRk3kklb8MTl927\/DphoY8m3hqRDqY6SHHMNnvJF0aCT6cmNCtUkT5NHKYUMrvGkvqtd+o7cXUA0FIqZcNtEvhosK8y8xk4MdLFE84EqHXBJZadQ3q0YcClB3ze1GSzmmeNk9VUIxSXCq7Rz4829YiJI7ROD0yWstN36lEUbozk2JPVAbayP8ZsWmsAJ48gfbrwPuatTyGsT4hgw+HvYpGU\/YNcDDBm0u7HrhczH6L\/MEKh26dpq2IfBkx4VrkypUmZBtcuLT68X0igqGwTw7YNtBA0xaN+T67JTdAwFMM5kr6DLd\/tAmvUd3okBAc\/EDXt8wXz9hyEf8rvmS71sVwfTxnXpHbEbxcsI\/kZ4kj9gcbcexMDa8FIZmfnEOTLzTRH\/0QobxzIcOE2gGok1Xy\/5DW1k6QkV0KiQAyT1zPzh5fcY7eRXv\/+LAt1op0IT0l80ea1qWI1G7SHYb5Z3NQ5HgIAgiF6EOkADRmz7g\/nRKaSAfTGm+LD2RSwAtDwzNPru5+zJgWzxK9xmymhJL\/3+URPVCO9yuHvkox0PwtJbl5rpt1Z0gL\/HpXw6tqE75VyHCzi0uhYEEt9JNp7eMJX6KglWYAAFMNicgEKJ66puoBFITnqttcOLn6jv+l0IKujNscjCrqLIDeKKCutFAEh7rJfuSLADtKPXOMbOMFgSMzpEIXTDJ2r6ZJnFqHxEpsSFN6lujvLbQkMrAT8F0Ey+TsRB2BjCWNtNgo0FK1sdNSENTo2ri9LOYV2JC7sD2Bg53\/roWkYwk4cV\/YtP+wDdYqWoNA90sQI+Dd6Tqk3HosNDyBl+og32QpOmYw8qMFWPbjxwO0QM27p6A3+Hm3HBEMIHJiRT5PALWwhh9CjhzbtgNOO\/csM91LbKs963aklIyPR3BaE1zHPu9f2SiWiSLMCNLulB29ioqnpqLAjnu9ZR+WZlWpj\/doc+eyUIvAPDsfV3t+3+kVNhpZ0mkEc+zuTICfQjcKyY7F81gSZj7FP2KJbmAnORii1KeLRu+Rc4B6SNfAopYu5JZLgcjv7bSB2BHvNLWW7VprgB7Io1B3bc3mfby4DgKhe+HuqoTOIVtxr4wy85mpLk1UMoTyk\/aAJ77mTDuWVENXoSfyD12hW2axuo727ghmL61qVzgvCTBM6l0Eu6lSEyQ0HnwRCLH7tM\/YdqbapKs17yoDdSjW\/vuO+cxJm2a\/bI6TpraUm84cobn6zvMDRSMOPGIrxK33NumYuH4V48HNU0r2k0YUtvdYkTDuoDoXNmueA6U5jf1hEOrPRgChRBGWPbDEyuZpkSI7yakIHHoFQdFWbRyV4NJ6NXupNtCQxCxS1B\/3unrMjc97mVY8N0YCeQUU\/GQt2jpOw0AMzI8ic2p3K2pgf2bRKXHaw\/3JBrN7rWYraX5ZhID\/1mx4fm0xvwM3G93OyHRAfHQr7BDQ7xEOmpvpinhHGtvnWcJEMoxAN2s9qSKxl6LpYcfU\/vt9\/yxLWywd67OE1ME6w9062cIq+f2OfHKucF4vlQZ4QhQYwVZkd7KsACkTC6DbnBKLsjroz5\/K9ZyjjMPY08DxS9Te6BdpnRi1bfI+zmB4Gmgzq96lDOqeEy4nxlA3wMHRXWBgRHGG\/d+HB0I+d\/2oLVX9R7IEsco5wyMfNjjIiO68K9QoFvgJ3W8QXevioDNS2D0VrWxWqlRoyiwCfqFX4px886\/qllJ2puJYWBcJyli5k1P4Hrs0ZGrdR07Cv0UOlvZUj4t8BqqaJrgYV3YlmxSH+4sZZz+J+yIsSDz0puZnTVgj+0G7rqnHAEobtlsAc2uAQ\/y6BR0TG0k0g7OaFoQ5Xa5S5GwdcgEXYxBQDc\/ImdkXe9YjpWFekaSIHmtaWRlfXRQcti1xhVnnGXWwmIT70F4x0ab5FMZZHCQlKs05+5HoeyT\/NfB4JmbKh73Oaej4HNvPa0vGz7\/lJ4X1AwvVSnqUnVvVxF+LLQfme9RrWGrewrLFNXGCjSQAxDAqQySqoCCRhv5TakftZCt8s9kFdwPq8Cqgy\/VlfRqHFlHzHlkb4f7ZoH\/FxgIUSJ8b7nj41pbAlud3uCsguMH8P6Df8t6J\/pZrHCKXrNQjRCJfY2ah3vvEH1vW4qBJ6t+ce0ISa\/o2NteVPfzGY6eqpQAXJoqXuHFFjHgo4prNhwI7ZaEcwnn7jHOorGO+faZC269kZupPf1PWQFXmvm76YVUJi81BYn0gNikMyKWFQg34som8j0A4w8NSu0b0bSI4NgReWqv2H9EePIGMg4X2xPB4I8xdQfkZvjlcWdKDtzdP3BUQZaloE3djVBsb8H2wQx\/pS940rNGEiKtycwHqyIFJnMQaqlHnSnPNjFdIkR3sfpZsydGD+k4j2zK1Ax91OqtpyKf4d3eF\/1kHgLJ67UaJiiBbDoWF0beNyc8tQ7vp2tcbGpKDeSIHWNK0b3y4F0Sw5fkGDjU0j93VmrjYwL5dzh+qtBown8mD207IB97NJ3BamwotRkb8V8yRgH8hRWSQkodAlS27F1Odir2xOIcM\/6lkur7gM\/coEfqkg16fulDygDWCq6PfwqbSRKZTn5t6cWAm8p4qJw6Q308GnHX7fxoZYcylPGAtkMxtUndjXZ\/WhayCa1irDDa505+VtdDJBUBswJVKR0JS+C9M0UNj3K1w8EDux5\/uU7XeNJ739wJ8Is88a7mc4vekncSvJxv9o2Fr6Dx9XLW\/UCOydDP+yqT2980Jpm1c5gaFrv3szXgwV0i7i86G0VobUNtsS54nRNNwAQn+nd8Mq9OI2PDYCUjtQMK2KUgqmhxt2sXk8ShTz6FUc7LPJPBuQDEHEvRy4GqB3DjkUaIAZPU8\/4vNV5nMgYjZ4rSWEMCNjXn91hdIQ4C0tY3IgNJhmyQ2erEwfcvl7H2neXnVhgaAZu1MRgw8VDUbQrQtlcqBLQ49B8\/65bSlM1HRsfg9dAXI6SrikryPX5HyP7kY9zPFpf7+tMmnmpchYDDdnCAwtIJA8vLgbRLzErNMFSFvFNLvtJybFKpUKXl5gW980b1HsxVfsdB+3HV2fMBq45uHoEb9lMy5XqTSqHqNoeKla\/g4uB\/o9o7OJRlUxIIvL32sY4lzLRT052\/0wMGxzgoui3yfw83Xc9f1xg7g9hdyC5H+6m3rGwgunLfIWLww7o2eV4BuwM27WfaiTrNmMCpgRuc7Xmp5uhxd\/QI8ECzEgG1zBq\/yGTrDFuw5oIrTeSAqQFtv5m2QyyssmxAZOltxIH78ND8O716zdqvgrwaqmMOg0GXgoF64e9XEH1M6pEtYeYiCjJmZDTdYHoacxz0Y246jQtyMGrBhLlt\/ZfVPno4Hg5g3PsCiEFGeKg\/AK9qgHwFcundFj+99mzMgnz0uOiFdrv21bmd\/HYXBfUtFwQQdNCztJZxlKuEcl7KPrqWtci9651hj8R7b\/yQ0Vyp8TBUkgVeSacnnFxe5aQ2XR8iUxC7TKLdph\/ElYz8QeiSd6n64h2vJOPMF2C0hxDzqfBEAlCnpbynZkENR3Ar3i2mOXjq8rqFGpX5DkXgF2\/RF0ryapUaR+SpR\/o+kFRwwEDYZNQBS6Z5O2eqDvhGe4pmAMCWkospnod4xz4YNZK7lZVHE8eGcYpZ8PGtE1xZIXtCmjMl3XliP7N7+dy2WmnAvnf2ANOEqhyzSALwh2KzfsIY4qQ07T\/L7KsBwoRSdzEsMQ\/P9PKkBcTwkzkFM1fOed60zDpErgd1KlAd0hTvAmD0KIyhe3cwsNoIoykyIKejmIymSFY\/MOIDod\/xfovhL84Y8Or41h\/rOEMduaTArRI2fx3rUJJwx+m5LLtIAhXIp8yHmDjpKJXA4CXMG+NnwUysqjAvARnLi9gZm1kHr0w6Ly8h7mREyo9OnTNFHR\/Q+otvNA82hFRu798lc7M+k8h98uBPf0hrJ8zkaTnweCcV5KJa5+MK8FfYV1T3j9z3QrxF2BObwGo3a6c0D8D0jhbwXtC1SSHSxC7ztQlhGo4hOGGMqskQHpFfMyUzT9ZPIJgVucqsrWHDNypv+9JCWgpmgvgPDACCTDufOMRxWG3ijNKdXj82mINzl1AHLK1AaOP0Xiw9J7s3GxEOHJHREUQmh3vZR4Vt1q4o+156ibzCmCD5CSCQUZhEvjeNm5PQgWbjTqsub+oJkRO0tOiFau6b6QLATbXGF0Ie7DB0owPuATCkDt\/Cmtdii1Fld14nzZu9TI0vTbkAZUlUNdwZ0bMtuzYpBB36C3VnMtppie+A7hVJCtCQ141Ix6hguTLrI7+pGcf7Y8nnkoF2etDyMZWhgScNEz9gcqyVLeR7H1Ul0Fkhje++fQ2Vxdzz\/3jj4jqFpn1\/cpNZ20IgdNd2Ev98H6dB6K7vCnaIPS7eTMw4KC5z5tp\/6ibQCtgGwe8jx\/v8bfDb3xL1R6tS\/8K6faT8rlJT0ywTXr+doKe5wDA\/lglfiQPNULolzg8b83JKJdJDu5kfnaZVDPVN5BnlGXRDLzNs8YHF9e+e8AR06jONjGq1xHYkF9oyGzmO6ibsJnvLJ4GV5LiXRTkNJwwG\/CZ8cXV869Tqr+rYKMkckHSygyhuQYNoRhbKV\/6vg6SDIRnrtWL1i3CLe0SvcZ0VLMCs=","iv":"f927f533ead6156a2b2f966da5272594","s":"1d674b1e0777e777"}
Share your thoughts. Click here