The Rhetoric Around the Death of Retail Is Wrong

I like to start conversations about retail today always with the number. 91% of retail sales are brick and mortar. For every one store that dies in sort of a middle segment, we get three new stores in the low price segment. And then we have a luxury segment that is doing very well. So implicitly what you're saying is that the explanations that are all about e-commerce, killing retail are wrong.