UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who has covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

August 3, 2008

THE LIST:Recent store closings

Compiled by F. William Engdahl, Global Research

Ann Taylor closing 117 stores nationwide.

Eddie Bauer to close more stores after closing 27 stores in the first quarter.

Cache, a women’s retailer is closing 20 to 23 stores this year.

Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide

Talbots, J. Jill closing stores. Talbots will close all 78 of its kids and men's stores plus another 22 underperforming stores. The 22 stores will be a mix of Talbots women's and J. Jill.

Gap Inc. closing 85 stores

Foot Locker to close 140 stores

Wickes Furniture is going out of business and closing all of its stores. The 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month.

Levitz - the furniture retailer, announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910.

Zales, Piercing Pagoda plans to close 82 stores by July 31 followed by closing another 23 underperforming stores.

Disney Store owner has the right to close 98 stores.

Home Depot store closings 15 of them amid a slumping US 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.

CompUSA (Closed).

Macy's - 9 stores closed

Movie Gallery – 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 as part of bankruptcy.

Pacific Sunwear - 153 Demo stores closing

Pep Boys - 33 stores of auto parts supplier closing

Sprint Nextel - 125 retail locations to close with 4,000 employees following 5,000 layoffs last year.

J. C. Penney, Lowe's and Office Depot are all scaling back

Ethan Allen Interiors: plans to close 12 of 300 stores to cut costs.

Wilsons the Leather Experts – closing 158 stores

Bombay Company: to close all 384 U.S.-based Bombay Company stores.

KB Toys closing 356 stores around the United States as part of its bankruptcy reorganization.

Dillard's Inc. will close another six stores this year.

20 Comments:

Anonymous Anonymous said...

These store closings would be far more indicative of a financial crisis if most of the products sold in them were made here in the US. Actually, these stores are just the local outlets for foreign goods. None of these establishments represent solid national infrastructure. They are the poster children of a "consumer-based society." In that sense - good riddance. I do feel for their employees, though. Now that our industrial capacity has been hollowed out, where will they find gainful employment?

August 3, 2008 6:46 PM  
Anonymous Anonymous said...

And where will the remaining stores find solvent customers?

August 4, 2008 9:42 AM  
Anonymous Anonymous said...

What about?
Linens and things
Starbucks
Sharper image

Also, the list presented does not include numerous locally owned stores across America.

August 4, 2008 11:00 AM  
Anonymous Anonymous said...

would be interesting to see if these same store chains are seeing growth in online sales while in-store sales decline thus driving the need to close brick 'n mortar stores.

i don't have the data to compare

some of the chains mentioned may also be suffering from changing cultural tastes (e.g. piercing pagoda)

August 17, 2008 2:10 AM  
Anonymous Anonymous said...

IT WOULD BE NICE IF THEY TOLD THIER PEOPLE WHICH STORES ARE CLOSING.IF THEY RESTRUCTURED AND GOT RID OF THE DM'S THEY WOULD CUT EXPENSES.

October 3, 2008 5:55 PM  
Anonymous Anonymous said...

Welcome to the GREAT Depression of 2008... Hold on to your ass, it's going to get VERY bumpy...

November 2, 2008 8:51 PM  
Anonymous Anonymous said...

It is no wonder some of the big name clothing stores are closing. People are getting smart to their little games. The poor get poorer and the rich get richer. It is ridiculous and nothing but greed when they buy for 32 cents and sell for 32 dollars and brag it. The Lord is telling them about their greed and wrong doing.

November 10, 2008 9:01 AM  
Anonymous Anonymous said...

It is no wonder some of the big name clothing stores are closing. People are getting smart to their little games. The poor get poorer and the rich get richer. It is ridiculous and nothing but greed when they buy for 32 cents and sell for 32 dollars and brag it. The Lord is telling them about their greed and wrong doing.


---its called capitalism you idiot!
Have you ever heard of the word profit? You have to sell for more than what you paid for. You are a fucking moron.

November 11, 2008 1:31 PM  
Anonymous Anonymous said...

You don't have to sell for a 1000+ plus percent markup to make a profit. You sound like a fucking moron to me, which of course, is what most greedheads are at bottom.

November 11, 2008 6:57 PM  
Anonymous Anonymous said...

There's a difference between responsible capitalism and the greed-fueled laissez faire 'free market' variety that's ruining this country, 1:31. Or are you one of those neocons who can't tell the difference?

November 11, 2008 7:01 PM  
Anonymous Anonymous said...

Have any of you taken the time to pray for our economy and our nation?

November 18, 2008 7:57 PM  
Anonymous Anonymous said...

It doesn't really matter if we pray. It is finished. This nation is finished. A one world currency is being discussed even now. Get ready for hyper-inflation and more devastation.

November 18, 2008 8:01 PM  
Anonymous That Guy said...

Uuuhhhhhh....... Let me see........ One world currency wouldn't be entirely bad, but it won't happen because, honestly, who issues it? Please, expound on your theory.

I don't pray for economies, I pray for people.

7:01, your comment would be more helpful if you weren't so confrontational.

1:31, if I went and bought a steak for $5, and sold it to you for $5000 because I had 'expenses' to cover, would you still be so happy about capitalism? I thought that NAFTA was supposed to reduce costs for manufacturers and make them more competitive? What happened? Is it possible that because all the good-paying, no school required jobs, that left took all the spending power required to buy cars, homes, repay debts, maybe that's why we are in this mess? Hmmm...

9:01, really? Do you have any kind of facts to back that up? That seems awful hyperbolic.

November 18, 2008 11:50 PM  
Anonymous Anonymous said...

the world is gonna self destruct cuz everybody is soo damn greedy and selfish..

November 28, 2008 7:37 PM  
Anonymous Anonymous said...

The world will not self destruct; however, it is probable that if we do not stop acting on emotions, we will destroy the world.

Is the only thing that you see about he store closings greed? Think about it, how many years have some of the store, which are closing, been around? Are they really closing because they sell merchandise with jacked-up price tags? Does anyone else find something wrong with the way the gov't is handling our financial crisis? Our gov't has bailed out bank after bank, but what about the people? If the gov't were to reinvest that money in the public, do you not think that may have stimulated more spending?

December 1, 2008 10:27 PM  
Anonymous Anonymous said...

holy fuck you all need to calm the fuck down..you all are going off because someone posted store closings seriously shut the fuck up! you all sound like fucing idiots what the fuck does you bitching about this shit do..not a fucking thing so shut the fuck up.

December 15, 2008 3:37 PM  
Anonymous Anonymous said...

There is a normal boom and bust cycle as businesses, small and large, expand and contract not only due to market fluctuations but also due to piss poor planning on the part of these businesses. I mean some of those listed have been consistently ridiculed for having one on every corner.

That said, what are most of these stores offering customers? Fair for their disposable income... you know, the first thing trimmed when money gets tight or the populations tastes change.

All over American small and medium sized businesses fail while others start. A weak economy tends to lead to a bust for big business and a boon for small businesses as former employees are incentivised by pink slips and a belief that they really can build a better mouse trap. It on the shoulders of these that the American way has ALWAYS depended.

December 17, 2008 1:49 PM  
Anonymous Anonymous said...

What SHAME we are all to blame, IF we did not buy at the price range..this Would not Happen, for instance A car when First came out was a years Pay for a new Car And were in same boat today..A years Pay for a new car. A new car was $500..Now a car is $16, to $23, see not much difrent..Buy only what you need not what you want.. has been the Problem..GOD bless

February 11, 2009 11:40 AM  
Anonymous Anonymous said...

I have invented A way to make an Elect car Go twice as long But who will lisin ..Some of my invetions have been Stolden.. From USA to Made over seas Ive lost $000,000 but oh well Dennis in Maine

February 11, 2009 11:43 AM  
Anonymous Anonymous said...

HO by the Way Did you Know The USA CANADA MEXECO are trying to pass A money System for All 3 and DId you Know that The Uero Has 9 In its money Chaine And soon will be TEN as it Says in the Bible..What we are going through is the Start of a One world Goverment---Please read your Bibles and See for your selfs..Books Danel ..Mat. and Rev..This one world Leader Will have His own.. be very Care full The Return of GODs SON is just at the Door..Dennis up in Maine

February 11, 2009 12:03 PM  

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