1. Ann Taylor closing 117 stores nationwide A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month.
2. Eddie Bauer to close more stores - Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.
3. Cache closing stores - Women's retailer Cache announced that it is closing 20 to 23 stores this year.
4. Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide The owner of retailers Lane Bryant , Fashion Bug , Catherines Plus Sizes will close about 150 underperforming stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.
5. Talbots, J. Jill closing stores - About a month ago, Talbots announced that it will be shuttering all 78 of its kids and men's stores. Now the company says it will close another 22 underperforming stores.
The 22 stores will be a mix of Talbots women's and J. Jill, another chain it owns. The closures will occur this fiscal year, according to a company press release.
6. Gap Inc. closing 85 stores - In addition to its namesake chain, Gap also owns Old Navy and Banana Republic. The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.
7. Foot Locker to close 140 stores - In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment
8. Wickes is going out o f business - Wickes Furniture is going out of business and closing all of its stores, Wickes, a 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month.
9. Goodbye Levitz - The furniture retailer, which is going out of business. Levitz first announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910 when Richard Levitz opened his first furniture store in Lebanon , PA. In the 1960s, the warehouse/showroom concept brought Levitz to the forefront of the furniture industry.
The local Levitz closures will follow the shutdown of Bombay.
10. Zales, Piercing Pagoda closing stores - The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by July 31. Today, it announc ed that it is closing another 23 underperforming stores. The company said it's not providing a list of specific store closures. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.
11. Disney Store owner has the right to close 98 stores The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords.
Those subsidiaries of Children's Place filed for bankruptcy protection in late March. Walt Disney in the news release said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.
12. Home Depot store closings - ATLANTA - Nearly 7+ months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc. announced Thursday that it is shuttering 15 of them amid a slumping U.S. economy and housing market. The move will affect 1,300 employees.
It is the first time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the under performing U.S. stores being closed represent less than 1 percent of its existing stores. They will be shuttered within the next two months.
13. Comp USA clarifies details on store closings Any extended warranties purchased for products through Comp USA will be honored by a third-party provider, Assurant Solutions. Gift cards, rain checks, and rebates purchased prior to December 12 can be redeemed at any time during the final sale. For those who h ave a gadget currently in for service with Comp USA, the repair will be completed and the gadget will be returned to owners. http://www.news.com/8301-10784_3-9834177-7html < http://www.news.com/8301-10784_3-9834177-7.html >
14. Marcy's - 9 stores -
15. Movie Gallery - 160 stores as part of reorganization plan to exit bankruptcy The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.
16. Pep Boys - 33 stores
17. Sprint Nextel - 125 retail locations New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas. Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.
18. J. C. Penney, Lowe's and Office Depot are scaling back
19. Ethan Allen Interiors: The company announced plans to close 12 of 300+ stores in an effort to cut costs.
20. Wilsons the Leather Experts - 158 stores
21. Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand. Seventy-four underperforming Demo stores closed last May.
22. Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close.
23. Bombay Company: The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online storefront has discontinued operations.
24. KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. To see the list of store closings, go to the KB Toys Information web site, and click on Press Information
25. Dillard's to Close More Stores Dillard's Inc. said it will continue to focus on closing underperforming stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another six underperforming stores this year.
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___________________
Freedom is an inside job
We had a mall called 5 points in Bountiful, Utah ..
Its gone. The whole mall has been replaced with 1 medical center.
You could build a whole condo center with what ground is left! So whats next?
Its better to remain silent and thought a fool than to speak up and remove all doubt!
I'm afraid this is the beginning of a trend that we'll be seeing for a while. America no longer produces enough to earn the privilege of all of this consumption. We've been importing these goods from other countries and giving them nothing but worthless dollars in return. As we've become more socialist, we've become less competitive. As countries like China, Singapore, Australia, Ireland, and other "socialist" countries have moved away from socialism, they've become more competitive.
Our standard of living is going to decline for quite a while. When you take money out of the equation (which is deceptive because its value isn't constant), this just represents the fact that we have less goods available to us now because we produce less to trade for them. The next thing you'll see closing (and it's already happening) are all of the nail places, massage therapists, children's haircutting specialists, and other luxuries that Americans can't afford either.
One day we will wake up out of the socialist stupor we've been living in and realize that America is no longer "No. 1," that we haven't been for quite a while now, and that we can only get back by doing what got us there in the first place - freedom.
Tom Mullen
www.tommullen.net
www.myspace.com/skepticsongs
"One day we will wake up out of the socialist stupor we've been living in and realize that America is no longer "No. 1," that we haven't been for quite a while now, and that we can only get back by doing what got us there in the first place - freedom."
Unfortunately Tom, it's just not that easy... America won't wake up from this stupid socialist stupor because every step away from socialism draws us that much closer to it when the government threatens and reaffirms the collective lemming mind that they have our best interests at heart. This country has been in this funk so long, and has had multiple close calls and opportunities to dig our way out and we just haven't -- it's as if the country just doesn't expect it, believe it, or really even want it.
you sound gloomier than I do. With both of us in the same thread, we will have people heading for bridges. LOL
You're right, though. We've come to many crossroads over the past 50 years, and we've gone the wrong way every time. I started college during Reagan's first term, and do you know what I was taught? That Keynesian economics had been discredited and was no longer followed. By the end of Reagan's term, Keynes was back - and he's bigger than ever now.
What eventually WILL give us a chance is chaos. That's where we're headed, unfortunately, if we don't change our course. Many of my friends say I'm wasting my time sending e-mails and bulletins, because the American people need crushing hardship before they question the status quo. It might be true. I'd like to think we can head it off a little before that, but if not, there will be a chance to get people to listen when they're having trouble eating.
I do believe we'll see news stories during this next presidential term about people shooting each other for food in America.
Tom Mullen
www.tommullen.net
www.myspace.com/skepticsongs
Ahh, yes. No doom and gloom intended. Just a historical observation of reality. I think the sad part about it is that the reality is more doom and gloom and less "fabulous fifties" than we all wish it was. Come to my town and you'll already be reading about people killing for food... then when they're interviewed about why they did it, the typical response is something like "The government didn't help me out of my bad spot". Shocking, sad, but true state of reality today.
Where we differ from the collective lemming mind is this. We're guys and by definition, dogs. It's true, ask any woman you know (preferably a liberated feminist) and they'll tell you ALL men are dogs. OK, so as puppies, and as part of the institution of potty training, we will find a spot in the corner of the kitchen (usually off of the laid out newspaper) and relieve ourselves because we're just little dumb puppy dogs. What happens next? Our owner rolls up a newspaper, and proceeds to remind us why fecal matter in the corner of the kitchen floor is a bad thing. We yelp, they grab us by the scruff of our necks, and toss us out the back door. We don't necessarily understand why this all happened but we accept it. After a couple of times of this happening, what do we do? We realize the rolled up newspaper is not our friend so when the urge to relieve ourselves comes again, we bark at the owner and scratch at the back door until they let us out. It only takes a few times and we get it. That's how we survive our marraiges and that's how we keep our jobs.
The collective America is like a cat. It doesnt matter how many times we toss them into the litter box, even after 10 years, something disgusting will inevitably show up on the floor somewhere outside of the litter box. It's just what cats do. I don't know if they get complacent and think they'll have time to get to their box and just wait until it's too late. I don't know if the stereotypical feline blasé mentality is the motivating factor. I don't know if the cat is just expecting the owner to just take care of it (because cats aer demanding like that). I don't know. All I know is that cats will inevitably digress.
I mus admit that economics has never been my strong point, so I am not familiar with the tennants of Keynesian Economics but if I'm not mistaken, it had something to do with making sure the "peon working class" was "taken care of" because they would be the ones who would spend their money before saving it -- thus creating a natural stimulus. I'm a simple man, earning a simple buck (or two), and I like spending my money freely (after all of the bills are paid, the food's on the table, and the savings acconut is fed).
I work for the Postal Service (Mail Carrier) I am seeing many more delinquency notices
than I did a year ago! We had a big manfacturing plant just close down last month
employeeing more that 600 in a small town of Tremonton, Utah. It was LazyBoy. I feel
bad for the town and these poor folks. I don't think we have seen the worst of it yet!
Sure would like to see that light at the end of the tunnel.
Wake Up America
http://www.tiptopwebsite.com/websites/index2.php?username=liberty4us&pag...
.. later
I just read this morning in our local paper where a
group of neighbors got together and started a sort
of food co-op. It started in 2006 and as of today has
6 thousand members. Fresh produce, vegetables
and meat!
Its run by volunteers. I don't know what part of the
U.S.of A your in but this is their site! I might just join
this co-op!
www.crossroads-u-c.org/cfc/.
Remember the Words you say keep them soft and sweet You never know from day to day which one's you'll have to eat! www.tiptopwebsite.com/liberty4us
Hey, I went back and re-read my first reply, and it came across as dismissive, and that wasn't my intent at all. There's no doubt the retail sector is getting hit hard and I don't want to diminish that point at all.
I honestly don't feel sorry for those who are affected by that level of corporate greed. Three KayBee Toy stores in 3 malls within a 10 mile radius for example... ugh! This is one of those failsafe mechanisms that a freemarket allows for in self-correction; but unfortunately, someone contrived this funny phrase of "consumer confidence index", and has used that as a measuring stick to create a sense of fear in consumers that further drives the market down.
Let's say a regular Joe Blow who does not understand economics stumbles onto this post. They give no consideration to any reasoning behind these failures, and the end result is now their consumer confidence is weakened...
I wonder if the trend in store closings is in any way related to the overall declining popularity of shopping malls and the increasing popularity of the strip mall style outlets.
Recent years within the retail sector, large scale, full day trip shopping malls housing in excess of 50 specialty retail shops and no less than 2 major anchor department stores have given way to freestanding anchors with strip mall specialty shops.
One example is in my home town. The "major mall" in my area (1.5 miles from my house) continues to lose at least 1 retailer every month and regain 1 every 2 months (one step forward, 2 steps back). There are two major strip malls within a 10 mile radius of my house that are booming with specialty shop strip malls surrounding major anchor retailers. One strip mall area has 30 retailers surrounding a Target. The other has over 100 specialty shops, an indor sporting complex and 15 restaurants anchored by JC Penney (which incidentally was an anchor in the mall by my house 3 years ago). The first strip mall has no room for growth (but would grow if it could). The second strip mall has plenty of room for growth (with the exception of the busy roads), and there is no end in sight for its growth.
The businesses follow the people... For every Lane Bryant failure story, you will find a Brady's clothing store (http://goliath.ecnext.com/coms2/summary_0199-2594214_ITM) that has learned how to adapt to the economy, work within their means, and manage complete profitability. Most of the companies listed did not plan on the high and rising costs of mall rental space, and the effects of the advancement of the strip mall.
Home Depot... They just grew too fast to try to keep up with Lowe's... making bad decisions, having bad store layouts, and bad employees... Boo Hoo on their closure.
This is the ebb and tide of the retail economy... Now when my local Publix or Food Lion grocery stores have to start closing up shop because nobody can afford to purchase food from them... then let's talk because that hits where it hurts the most. My stomach.