Earnings growth for brick and mortar retail stores is peaking – literally right now.

It’s a bold statement, but Hedgeye Retail analyst Brian McGough suggests a downward inflection point starting this summer could hurt brick and mortar retailers through at least early 2019.

“We are at peak right now – like at this minute,” McGough says in the clip above. “We are at a point where brick and mortar will actually never grow again.”

Watch the clip above for the key chart supporting Brian’s call and for much more.

McGough: ‘Here’s Our Killer Retail Outlook Chart’ - the macro show