Vice President Pence to meet with retailers amid mass store closures


Vice President Mike Pence will meet with leaders of the retail indusry to talk about issues critical to the industry.

Members of the National Retail Federation will hear from Pence during this week’s annual Retail Advocates Summit, where more than 200 retailers from across the country will come to Washington, D.C. to meet with policymakers. Pence will give the keynote address on Tuesday at the summit.

» STORE CLOSINGS: What’s really going on?

The convention will focus on the importance of tax reform for retailers and their employers, according to the NRF. The convention comes as retailers nationwide struggle to keep brick-and-mortar stores open amid major disruption in the industry.

More than 5,000 stores have closed so far this year, according to an analysis by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. A research report from brokerage firm Credit Suisse estimated that more than 8,600 stores will close this year, up from the 2,065 that closed last year and the 5,077 store closures in 2015.

» WATCH: Amazon’s new shopping concept means never waiting in lines

Earlier this month, children’s clothing retailer Gymboree announced it would close 350 stores after filing for bankruptcy. Kmart also closed an additional 42 stores, including the last one in the Dayton area at 401 Woodman Drive.

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