It's a difficult time to be a retailer.
Moody's Investors Service said nearly 14% of retail and apparel companies are distressed debt issuers, the highest since the Great Recession, and they have nearly $4 billion coming due to in the next five years. A bevy of upstarts, from online behemoths like Amazon (AMZN) - Get Report and Walmart's (WMT) - Get Report Jet.com to fast fashion retailers like Zara, have fundamentally altered the way consumers shop. The United States is "overstored," with lower-tiered shopping malls particularly suffering.
"The real unknown is at what point consumers are going to define the equilibrium between stores and e-commerce," Nordstrom (JWN) - Get Report CFO Mike Koppel said at the UBS Consumer & Retail Conference on Wednesday as he touted the company's e-commerce investments.
Here's a look at the retail sub-sectors taking a beating.
Editor's Pick: Originally published March 12.