We’ve all seen the headlines. From Sears and Lord & Taylor to Payless and Toys “R” Us, iconic retail brands that once dominated malls and Main Streets are now either shells of what they were—or gone entirely.

Some fizzled slowly, weighed down by outdated models and failure to evolve. Others collapsed quickly, after a perfect storm of changing customer behavior, economic pressures, and leadership missteps.

And while some of these brands attempt a comeback in new forms—like Toys “R” Us resurfacing inside Macy’s—others have vanished, leaving behind empty stores, lost jobs, and a cautionary tale.

So here’s the question that matters: how do today’s retailers avoid becoming tomorrow’s bankruptcy case?

As someone who’s spent my career helping store leaders run stronger operations and drive better results, I believe the answer lies in leadership, clarity, and relentless focus on the customer.

Here are 5 critical actions retailers must take now to avoid the same fate:

1. Invest in Store Leadership, Not Just Store Design

A beautiful buildout can’t fix poor execution. What separates thriving stores from closing ones isn’t just how they look—it’s how they run.
Strong store managers drive team culture, deliver the customer experience, and protect your brand reputation.

Want better sales? Start with better leadership.

2. Stay Obsessed with the Customer Experience

Customers expect more than product—they expect to feel something. Connection. Ease. Delight.
Stores that survive prioritize in-person experiences: personalized service, welcoming environments, and teams that care. If your store feels cold or transactional, you’ve already lost ground.

3. Be Agile With Inventory and Merchandising

Many retailers who faltered clung too long to outdated assortments or ignored sell-through signals. Your floor should reflect what’s working now—not what worked last season.
Inventory is strategy. Merchandising is communication. Don’t ignore either.

4. Bridge the Gap Between Digital and Physical

Today’s shopper moves between channels without thinking twice. If your brick-and-mortar store feels disconnected from your online experience, you’re creating friction.
Use technology to enhance—not replace—the in-store journey.

And make sure your teams are trained to speak both languages.

5. Build Culture Like Your Business Depends on It—Because It Does

Retailers with poor morale, high turnover, and inconsistent expectations don’t last.
Stores are run by people. And people thrive under strong, positive leadership. If you want to stay off the bankruptcy tracker, build a culture that inspires ownership, accountability, and energy.

The Bottom Line

Retail isn’t dying—mediocre retail is.
The brands that win will be the ones who lead from the floor, evolve with the customer, and treat the store as a living, breathing brand experience.

I’m writing my first book right now, because I believe the key to retail’s future lies with the people leading stores today.

If you want to follow the journey or get early updates (and maybe win a free copy), join the mailing list at www.runninggreatstores.com.

And if you’re a retail leader doing great work—I want to hear from you. You are my inspiration!

Let’s run great stores. Together.