"Get Ready for Mass Retail Closings"

[FINFAN]

I think it's just a good idea in general to use gift cards to any business within a reasonable time of getting them. It's one item that can have its "restrictions" change on a dime.
our KK did close in November though, bummer

 

[disneychrista]

If JcPenny's closes the only other place in my town to buy clothes would be Walmart. Mervyns closed in December.

 

[maggiew]

My Rainforest Cafe always has a 45 minute wait!!!

Maggie

 

[Imzadi]

A lot of these retailers (Tiffany's, Nordstrom) are part of the grow too big for your market problem. Tiffany's would be doing just fine if they were still a destination jeweler for the really wealthy, but why in the world should there be a Tiffany's in Minnesota?

That's like Starbucks. We really did not need one on every other corner and for $4 a cup. They did not understand their customer base. Has anyone seen the chart of their stocks? It has gone straight down over the last year or so. I doubt they will recover.

It will be one of those silly fads of the early 2000's, that people used to buy over-priced coffee.

This is one of the "SCARE THE CONSUMER" articles. And the folks on here will RUN WITH IT!

Yes, Pennys and Sears will close UNDERPERFORMING stores as will anyone else.

That does not mean the chain is going out of business.

Chapter 11 does not mean they are going out of business.

I agree. This is a way to re-structure their debts without going under.

Mervyns closed in December.

I read recently that Mervyns was bought back by the original Mervyn family and are hoping to re-open the chain again. I hope they can do it in this economy.

 

[Kay1]

Please post the link to this article!

Her article has a link: just click the title.

 

[ncbyrne]

I live in north central NJ and there are WAAAY too many retail stores! I can WALK to three drug stores....CVS, Walgreens, RiteAid...and I can drive to at least a dozen more in 5 minutes or less! WHY would anyone in their right mind, place them so close together? Makes no marketing sense at all! There just aren't enough people to make all of them profitable! And then, recently, the town center built a new complex with 7 more retail spaces. It's been finished for over 8 months, six spaces are still empty - only one has a tenant - Cosi, and it's the second one within one mile! Go figure. The entire country has been on a retail frenzie the past several years and it's caught up. No suprise at all that store after store will close in these hard economic times. Maybe if there weren't so MANY stores everywhere, the economy wouldn't have gotten in this sorry state.

 

[CarolA]

I actually read an article that pointed out that the US is probably "over retailed" so some closing over the long run will be good for us.

 

[MermaidsMom]

This is one of the "SCARE THE CONSUMER" articles. And the folks on here will RUN WITH IT!

Yes, Pennys and Sears will close UNDERPERFORMING stores as will anyone else.

That does not mean the chain is going out of business.

Chapter 11 does not mean they are going out of business. See Delta. I just got off a flight with them and they were in Chap 11 just a few years ago.

So perhaps we could hold off on the panic? (NAH, it's the DIS LOL!)

Carol,
Never letting a panic pass by, I heard it has more to do with bedbugs than the economy. Millions of bedbugs throughout all stores in America! And finally folks that reuse the reusable mugs seem to have brought the economy down one soda at a time....this day had to happen. So you folks that always knew the apocolypse was near...you were right! And once all 500 Million of us have no place to shop we will pillage the land like zombies.

 

[CarolA]

Her article has a link: just click the title.

Thanks!

Now everyone go LISTEN to the interview that this "article" is SUPPOSE to be summarizing!

It's not at ALL the same as that cute listing that was posted!!! VERY INTERESTING JOURNALISM!

His whole discussion was on "LUXURY GOODS" Not sure how "Sears and Penny" get counted as "Luxury"

And his big points seem to be that Neimans, Saks and Zales.... are in big trouble due to Leverage Buy Outs.

So... there were some BIG jumps made here by the "author" of that article!

 

[Ava]

I agree with CarolA. The US is over-saturated with stores, and with "stuff" in general. There will be closings until we reach a number of companies/stores that the economy can sustain. I feel badly for those losing their jobs due to the closures - and I was one of them, laid off last Oct but thankfully have a new job now - but it will be good for the US in the long run.

 

[mamalle]

doesnt surprise me one bit.. come on there is a mall on every corner, starbucks, etc...It was bound to happen sooner or later...

 

[wall*e2008]

I worry about all the vacant buildings and what they may turn into. Also many malls owners are leveraged and may go under.

 

[nunzia]

Other big businesses that Yahoo recently put out as ones not likely to make it through 2009 included Blockbuster, Krispy Kreme, Station Casinos, Rite Aid, Rain Forest Cafe, Dollar Rent A Car, Sirrius, and mant other big names.

I bet Rain Forest as the company makes it..maybe not all brands.
Station Casinos??? I used to work for them! (before I wised up and moved to MGM..whose stocks have taken a massive hit, but I still have faith in them..)

 

[Disney1976]

Rainforest Cafe is actually part of Landry's, I believe, as is T-Rex Cafe.

 

[RobinFabulous]

I didn't see the link.... Is this also the article that said Six-Flags would be closing?

 

[nunzia]

If JcPenny's closes the only other place in my town to buy clothes would be Walmart. Mervyns closed in December.

You must live where I live! nah..we also have Beall's and a Kmart that naver has a soul in it..

 

[dogodisney]

I hope we don't lose too many big named retailers and end up getting stuck shopping at Walmart.

 

[JoyG]

I really hope Sears doesn't go under. Between the Kid Vantage clothing guarantee and the Land's End items, it has turned into my favorite place to shop.

I was just there this weekend trading in a pair of kids jeans with the knee blown out for some brand new ones.

 

[disney1990]

Postings like this do no one any good. At Christmas all the internet buzz about which stores wouldnt make it past Christmas hurt businesses like PacSun and Eddie Bauer. Creating fear among consumers hurts everyone.

The story that was originally posted here was on the Yahoo Finance Board. It is based on the truth. I see absolutely nothing wrong with helping out our fellow DIS people and telling them to use their gift card, which may be worthless in the future.

You may not want to believe that stores will go out of business and I certainly hope that the stores listed do not go out of business.

But I never expected Linens and Things or Circuit City to go out of business.

People should be warned.

 

[PrincessSuzanne]

I wouldn't be surprised if our Penny's closes, Kohl's has taken all their business around here. I prefer Kohl's anyway, their prices are much better and they are always having great sales and you can't beat their markdowns.

I have to agree there are way too many CVS, Walgreen's and Rite-Aids, one on every corner, like they are purposely in each others faces. To me they are too high priced and I prefer Target or even Walmart, since our local paper doesn't have much in the way of coupons.

We have avoided most of the recent closures, except Goody's which had gotten junky and expensive and Circuit City, which I hardly ever went in anyway.

Suzanne