Is retail experiencing an existential crisis or a rebirth?

Research firm Fung Global Retail & Technology puts its estimate of U.S. store closures for 2017 at over 9,400, and some, like Richard Hayne, the CEO of Urban Outfitters, liken the situation to the bursting of the housing bubble in 2008. And yet, many brands and online-only retailers deepened their commitment to physical retail this year, including Nike, Adidas, Coach and Warby Parker. And Everlane, whose leadership swore they would never open physical stores, appears to be doing quite well with its first, opened this month.