Records: The US retail industry saw 9,302 stores close last year as of Dec. 20—a figure that more than doubles the 4,454 openings that occurred during the same period, according to data from Coresight Research cited by Retail Dive, Business Insider reports. The rise of e-commerce is likely partially responsible for the surge in store closures, but retailers can potentially save their stores and boost their overall sales by updating their locations with e-commerce in mind. Read the full story.
Charbroiled oysters: Drago’s Baton Rouge seafood restaurant on Constitution Avenue is expected to open its doors to patrons in the first week of February, says owner Tommy Cvitanovich, WAFB-TV reports. The original Drago’s restaurant in Metairie opened in 1969. Since then, Cvitanovich has opened in New Orleans, Lafayette, and Jackson, Mississippi. Read the full story.
Sector growth: U.S. services companies grew more quickly in December than the previous month, a sign that the economy’s steady expansion should continue. The Institute for Supply Management said Tuesday that its service-sector index rose to 55, from 53.9 in November. Any reading above 50 signals an expansion. Steady consumer spending, buoyed by a strong job market and decent pay gains, is driving a healthy service sector and broader economy. Read the full report.
