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.
5 Comments:
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?
And where will the remaining stores find solvent customers?
What about?
Linens and things
Starbucks
Sharper image
Also, the list presented does not include numerous locally owned stores across America.
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)
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.
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