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":"84db75735858fab6f5eb64bf79854ff2","s":"e2447938c3ddebbc"}
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