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Post by Daniel on May 5, 2015 8:37:10 GMT -5
Retail apocalypse: Major chains closing 6,000 stores
WND / 19 hours ago
WASHINGTON – The long feared “retail apocalypse” may be hitting with little or no fanfare if a growing list of store-closing plans by major chains is any indication.
Major U.S. retailers have announced the closing of more than 6,000 stores from coast to coast. The list includes only those retailers that have announced plans to close more than 10 outlets this year and next.
For example, 1,784 Radio Shack stores are vanishing, 400 stores in the Office Depot/Office Max chain by 2016, and 340 Dollar Tree/Family Dollar stores.
The growing list of stores getting shuttered coincides with the decline in discretionary consumer spending over the past six months.
“Expect to see more storefronts closed at malls across the country,” one retail watcher told WND. “It’s getting ugly out there.”
continue reading/see list of stores:
www.wnd.com/2015/05/retail-apocalypse-6000-chains-closing-stores/
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Post by sevenofnine on May 5, 2015 11:27:13 GMT -5
Yeah there is place in Westwood that all the stores are closing or are closed already
Kinda remind me of 1990 Cali economic recession alot
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Post by Daniel on Feb 29, 2016 9:09:38 GMT -5
Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores
By Michael Snyder, on February 25th, 2016
Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“. Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country? Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse. Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States. Barack Obama can continue huffing and puffing about how well the middle class is doing all he wants, but the truth is that the cold, hard numbers that retailers are reporting tell an entirely different story.
Earlier today, Sears Chairman Eddie Lampert released a letter to shareholders that was filled with all kinds of bad news. In this letter, he blamed the horrible results that Sears has been experiencing lately on “tectonic shifts” in consumer spending…
In a letter to shareholders on Thursday, Lampert said the impact of “tectonic shifts” in consumer spending has spread more broadly in the last year to retailers “that had previously proven to be relatively immune to such shifts.”
“Walmart, Nordstrom, Macy’s, Staples, Whole Foods and many others have felt the impact of disruptive changes from online competition and new business models,” Lampert wrote.
And it is very true – Sears is doing horribly, but they are far from alone. The following are 13 major retailers that are closing down stores…
#1 Sears lost 580 million dollars in the fourth quarter of 2015 alone, and they are scheduled to close at least 50 more “unprofitable stores” by the end of this year.
#2 It is being reported that Sports Authority will file for bankruptcy in March. Some news reports have indicated that around 200 stores may close, but at this point it is not known how many of their 450 stores will be able to stay open.
#3 For decades, Kohl’s has been growing aggressively, but now it plans to shutter 18 stores in 2016.
#4 Target has just finished closing 13 stores in the United States.
#5 Best Buy closed 30 stores last year, and it says that more store closings are likely in the months to come.
#6 Office Depot plans to close a total of 400 stores by the end of 2016.
The next seven examples come from one of my previous articles…
#7 Wal-Mart is closing 269 stores, including 154 inside the United States.
#8 K-Mart is closing down more than two dozen stores over the next several months.
#9 J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.
#10 Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.
#11 The Gap is in the process of closing 175 stores in North America.
#12 Aeropostale is in the process of closing 84 stores all across America.
#13 Finish Line has announced that 150 stores will be shutting down over the next few years.
continue reading
theeconomiccollapseblog.com/archives/economic-recovery-13-of-the-biggest-retailers-in-america-are-closing-down-stores
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Post by Deleted on Feb 29, 2016 12:25:00 GMT -5
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Post by Daniel on Apr 8, 2017 8:39:07 GMT -5
Stores Shut at Record Pace as Amazon Overpowers Rival Retailers
07 Apr 2017
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 Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., 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 the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.
“It’s an industry that’s still in search for answers,” said Noel Hebert, an analyst at Bloomberg Intelligence. “I don’t know how many malls can reinvent themselves.”
more
www.newsmax.com/Economy/amazon-stores-retailers-close/2017/04/07/id/783174/
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Post by Deleted on Apr 8, 2017 14:33:23 GMT -5
I agree with what Chen said about the key being to create the right shopping experience. If I have a bad experience at a store then if possible I don't like to go back to that store and shop. I like to shop at Amazon.
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Post by sevenofnine on Apr 9, 2017 11:08:38 GMT -5
Only time I used Amazon is get old movies and books they got big selection of Movies from silent movie era that I score via TCM or Amazon that only time there is cosmetic product I used local CVS don't carry I used this skin cream it used to be carry then Savon store not anymore since they got took over by CVS
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Post by Daniel on Apr 12, 2017 7:16:42 GMT -5
With local stores closing as online shopping becomes more popular, I believe this to be a big step towards the cashless society where ultimately everything will have to be purchased by debit/credit.
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Post by Deleted on Apr 12, 2017 15:52:41 GMT -5
With local stores closing as online shopping becomes more popular, I believe this to be a big step towards the cashless society where ultimately everything will have to be purchased by debit/credit. I also think society is moving toward a cashless survival, especially when someday A mazon no longer has any competition left to compete against them, and we also see what is happening in other countries toward this goal of being cashless. |
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Post by Daniel on Apr 18, 2018 8:28:21 GMT -5
More retailers are going bankrupt than ever
Gene Marks
April 16, 2018
Ask anyone running a store and they'll tell you that it's tough to be in the retail business. Merchants big and small are struggling to meet the demands of a customer base that is demanding better service, lower prices and products both in-store and from the comfort of their homes. A new report from investor research firm Moody's certainly confirms that.
According to last week's report, bankruptcies in the retail sector were at a record high during the first quarter of 2018.
There were nine defaults in the sector -- including Sears and Claire's - during the three months ended March 31. Tops Friendly Markets, a supermarket chain, and the Bon-Ton, department store chain, also filed for bankruptcy during the period. The only non-U.S. default that occurred in the first quarter was Britain-based BrightHouse Group, which sells rent-to-own refurbished sofas, televisions and refrigerators.
more
www.lmtonline.com/business/article/More-retailers-are-going-bankrupt-than-ever-12838891.php
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!!
