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Title: Here Are the Retail Stores Taking Hits, Closing Hundreds of Locations (Trump: MAGA)
Source:
NBC News
URL Source: http://www.nbcwashington.com/entert ... Locations-Close-419089074.html
Published: Apr 14, 2017
Author: Jordan Murray
Post Date: 2017-04-15 20:19:59 by Deckard
Keywords: None
Views: 1268
Comments: 8
For the retail industry's brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors. So what's the status of the stores making headlines these days? Here's a quick guide: Abercrombie & Fitch: The preppy classic clothing store is closing 60 U.S. stores during the 2017 fiscal year as leases expire, CNBC reported. This follows the closing of 53 domestic shops last year and likely won't be the end of it. The company has more than 700 locations, and half of them have leases that will be up for renewal by the end of fiscal 2018, lending the option to more closings. Aeropostale: The teen clothing store filed for Chapter 11 bankruptcy in May 2016 after losing money for 13 consecutive quarters. They announced the closing of 154 of its approximately 800 locations, with 113 closings in the U.S. and all 41 Canadian locations closing. In a negotiating fight that lasted into fall 2016, the company was able to save 504 stores and keep them operating, saving 26 percent more stores than it had initially projected would stay open. American Apparel: The signature "Made in the USA" California-based brand will be closing all 110 of its stores by the end of April, CNBC reported. On Jan. 10, a Canada-based company won the auction of rights to the brand but has indicated that it will not take on any of the 110 stores, causing American Apparel to begin shutting them down. American Eagle Outfitters: American Eagle has been struggling as sales have been dropping in the last few years. In 2013, the company announced it would close 150 of its approximately 1,000 stores over a three-year period, Reuters reporter. Barnes & Noble: The bookstore will close its Bethesda, Maryland location at the end of 2017. Barnes & Noble only closed eight stores in 2016 and currently has 640 locations as of 2016. BCBG: BCBG Max Azria Group filed for bankruptcy protection in March. The company is closing about 120 stores, mostly in the U.S., CNBC reported. Liquidation sales started in February and will run eight to 10 weeks before the stores close for good. Bebe Stores Inc.: The specialty women's apparel chain will close 21 of its 172 locations, some 12 percent of its outlets, according to CNBC. Casual Adventure: The outdoor equipment outfitter in Arlington, Virginia is closing its doors after 61 years of business. The family-owned store has been operated by four generations but can't stay open any longer due to online competition and growing demand for the property. Children's Place: The children';s clothing company plans to close up to 300 stores through 2020 to focus on online shopping and began the downsizing process in 2015, CNBC reported. However, a surge in profit during the first quarter of the fiscal 2017 year looks encouraging. Crocs: The plastic clog company will close 160 of its 558 stores by the end of 2018, according to Forbes. GameStop: The new and used video game retailer announced in March that it would be closing 2 to 3 percent of its global store footprint, which could mean as many as 190 stores, CNBC reported. GameStop currently has more than 6,600 stores globally, with 4,400 in the U.S. HHGregg: The electronics retailer giant is going out of business after more than 60 years. The company announced in March it plans to begin closing 88 of its 132 stores and three distribution centers. Liquidation sales are currently underway and should be complete by mid-April. J.C. Penney: The nearly 115-year-old department store announced in February that it will close 130 to 140 stores and two distribution centers over the next several months, but reversed course Thursday, announcing that it has postponed liquidation sales and closures of those stores. "The liquidation will now begin May 22 instead of April 17 as originally scheduled," according to CNBC. The new closure date, July 31, is about six weeks later than originally planned, CNBC reported. J.C. Penney currently has 1,014 locations. Kemp Mill Music: After more than 40 years selling music in 36 different locations in D.C., Maryland, Virginia and Delaware, Kemp Mill Records closed its last store in March, ending a music legacy to many local music lovers and musicians. Kenneth Cole: The clothing store announced in November that it would close all of its 63 outlet stores in the U.S. over six months, CNBC reported. The company said it would instead focus on expanding their online and full-price retail footprint across the globe. The Limited: After 50 years in business, The Limited filed for Chapter 11 bankruptcy protection after closing all 250 stores in January, CNBC reported. The store's styles will now be available online only. Macy's: Macy's announced in January that it will be shutting down 65 stores in 2017. The company announced in August 2016 a planned shutdown of about 100 stores out of its 730 locations. Office Depot: The home goods store said it would close 300 more stores in the next three years to cut costs by the end of 2018, Time reported. The brand already closed 400 U.S. stores by the end of 2016. As of 2017, there are approximately 1,400 retail stores in North America, according to their website. Payless ShoeSource: Payless announced in early April that it had filed for Chapter 11 bankruptcy and will close nearly 400 stores in the U.S. and Puerto Rico. Payless has about 4,400 stores in more than 30 countries. RadioShack: The electronics store filed for Chapter 11 bankruptcy for the second time in just over two years. The company is currently in the process of closing 200 stores and will then evaluate options for the remaining 1,300 locations. "Several hundred" of the Sprint wireless carrier shops within RadioShack will turn these locations into Sprint-only stores. Ralph Lauren: The luxury brand announced in early April that it will not renew the lease on its Flagship 5th Avenue store in New York City, according to CNBC. It also plans to close more than 50 stores and focus on its three core brands, it announced in June 2016. Sears and Kmart: The company that owns both retail chains announced plans to close 150 unprofitable Sears and Kmart locations, as well as sell off its Craftsman business. The company also acknowledged "substantial doubt" that it will be able to keep doors open. Sports Authority: The sporting goods store announced it would close 140 of its 450 locations in March 2016 and filed for bankruptcy protection that same month, according to CBNC. However, after failing to get funding, the company said in May that it would focus solely on mergers and acquisitions, selling and closing all of its 460 remaining stores. Staples: The office supply store announced in March that it would close 70 stores in 2017 after reporting fourth-quarter sales were weaker than expected. In the last two years, a combined total of 242 stores have been closed. Wet Seal: The teen apparel retailer filed for bankruptcy protection in February for the second time after filing for Chapter 11 bankruptcy in 2015. The company plans to close all of its 150 stores this spring, CNBC reported.
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#1. To: Deckard (#0)
Get use to it. Times are changing. The old ways are dying and the new ways are taking over. Companies like Amazon are kicking the old dinosaurs to the curb. Amazon with its next day delivery is beating these companies to death. You added in that they do not have to deal with crazy local politics and high dollar store space. Thugs stealing them blind. BTW why is it Trumps fault? Not to mention those stores paid minimum wage with only a few people at the store barely making middle class pay with 60 plus hour work week. All the money is at the top end in Connecticut and NY.
Yeah. I am not a big shopper, but I hate to see all the retailers disappear. Wonder what the next new way will be? Maybe no retailers, since people without jobs have no money, and cannot buy anything. Si vis pacem, para bellum Rebellion to tyrants is obedience to God. Never Pick A Fight With An Old Man He Will Just Shoot You He Can't Afford To Get Hurt I am concerned for the security of our great nation; not so much because of any threat from without, but because of the insidious forces working from within." -- General Douglas MacArthur
Yeah. It used to be that you could go to the store, check out the quality of the product, compare it to others in the store, try on clothes to see if they fit, ask questions of the clerk ... THEN order online to save 2%. Without the actual store, what will we do?
Guys its just sad but you know those big MegaMarts took out the little stores so don't feel to sorry for them. One thing I have notices is the older I get the faster things change. Iam terrified for our children and grandchildren. Something in computers is the only way to make it. It will be computer - science, engineering, biomedical, medicine, banking, politics or just be a slave to those that change. You can go service but even thats changing into just a parts changer of no real skill. In 10 to 20 years life be more different than from the 50's to today. Whether India, China or US being the leader of the world in computer controlled everything. Progressives have fucked the US and im not sure if we will be the leader of the world before I die. I really hate progressives if you can not tell(They think they are progressive but really just hate filled little hitlers) !!
Be a delivery driver for UPS, Fed Ex, or who ever will be the next big delivery service?? Or, be a package shipper at the warehouse?? But with all the jobs disappearing, who is going to be buying? Si vis pacem, para bellum Rebellion to tyrants is obedience to God. Never Pick A Fight With An Old Man He Will Just Shoot You He Can't Afford To Get Hurt I am concerned for the security of our great nation; not so much because of any threat from without, but because of the insidious forces working from within." -- General Douglas MacArthur
No. I'm saying without a physical store to go to, how will we be able to check out the quality of the product, compare it to others in the store, try on clothes to see if they fit, ask questions of the clerk ... THEN order online to save 2%?
I worked in a general store much like the one pictured, while I was in high school. One minute I was cutting up meat for a man back in the butcher section, and the next minute I was outside pumping gas into some nice old lady’s Hudson. Life did not end when most all of the general stores that were spread across America in those days closed and malls like the one pictured opened a hundred miles, or sdo, in each direction from that old general store in the countryside. And so, my dear eternal pessimist….in an ever-changing marketplace, the place where markets do business has always been in evolution. Ergo, the “gloom and doom” stories like the one on this thread must be placed in the context of the time….and looked at in the proper prospective. To do this, let’s use Walmart as a good example. You may remember last year, maybe in January, that the “gloom and doom” reporting crowd hit the media with a panic notice that: Walmart, the world’s largest retailer is shutting down a total of 269 stores, with 154 of them in the United States. It was suppose to cause an “oh, Shit” reaction….and it probably did to some folks. Just like folks with that same nature will have the same reaction to your posting here. But, nowhere in those initial panic closing notices did one reporter ever mention news that was ferreted out by responsible persons later. Never mentioned was that “the bulk of the US stores closing were the Walmart Express stores, a small store format that has been in testing since 2011.” And the shutdown stores will represent only two percent of Walmart’s global store count and three percent of its US stores. At that time, notice was given by responsible journalists that the “retail giant’s restructuring may signal a growing trend as brick and mortar retailers gear themselves to be more competitive online.” And yet, here we are 15 months later, with some people now just starting to wake up and panic. God help those ignorant people….for they cannot help themselves. Walmart was the biggest disrupter of retail in its time, while Amazon and online retailing is now. In 2015, e-commerce sales increased 15.1 percent compared to the 1.6 percent of total retail sales increase. Many, to maybe most all, of the stores mentioned in the article are already engaged in e-commerce sales. They are however to be faulted that despite the rapid growth of e- commerce, they have been too slow to adapt to online sales. As a result of their inability to trend, Amazon as the leading e-commerce retailer, has had more than $71 billion worth of online sales. It should be noted that Walmart is competing in e-commerce and has done a little over $13 billion. In recent years, Walmart,Target and other relative latecomers to the online market, have been focusing more of their resources into establishing a presence on the Internet. Good on them … So Deckard….your constant portrayal of yourself at the LF Chicken Licken with your same moral in the form of a cumulative tale with an attempt to make everyone believe the world is coming to an end is old stuff. There is really no need to make this article into any "The sky is falling" crap. “Look to the future for change and change with it….stop the pissing and moaning” ~ are words spoken by a wise old sage.
great post. Times are a changin. please don't feed the dinosaurs.
#2. To: Justified (#1)
" Times are changing. The old ways are dying and the new ways are taking over. "
#3. To: Justified (#1)
"The old ways are dying and the new ways are taking over."
#4. To: misterwhite, Stoner (#3)
#5. To: misterwhite (#3)
" Without the actual store, what will we do? "
#6. To: Stoner (#5)
#7. To: Deckard (#0)
For the retail industry's brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors.
Reporters are always looking for bad news and you, Deckard, are always most too eagerly posting their bad news. 
For the retail industry's brick-and-mortar stores, the realities of online shopping and changing tastes have driven down sales, causing hundreds of locations to close their doors.
Yep, things do change….and change is not always bad!
#8. To: Justified (#1)
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