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":"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","iv":"a3e8f4ef9c0765d5210fd302dc1370a2","s":"e7b5b58cdaa3b914"}
Share your thoughts. Click here