The death of the American middle class has brought department stores down with it

AP/Charles Krupa Experts say that the recent closing of Bon-Ton and ongoing struggles of department stores are linked to the death of the middle class in the United States. As the middle class has shrunk, high-end and budget stores have become the most successful areas of the retail sector. According to a Deloitte study, revenues have grown81% and 37% at high-end and budget stores, respectively, in the last five years. Meanwhile, stores in the middle range have seen a 2% increase in sales. After...