Record store closings as e-commerce chews up retailers

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors. At the bottom, the seemingly ubiquitous Payless shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren, meanwhile, said it will close its flagship Fifth Avenue Polo store -- a symbol of old-fashioned luxury that no longer resonates with today’s shoppers. And the teen-apparel retailer Rue21 Inc. could be t...

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