Author Topic: More than 300 store closures are announced in a single day as the retail apocalypse rips through JCP  (Read 1436 times)

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Offline Applewood

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More than 300 store closures are announced in a single day as the retail apocalypse rips through JCPenney, Gap, and Victoria's Secret


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Gap, JCPenney, and Victoria's Secret announced more than 300 store closures over the course of 24 hours this week, sending a clear signal that the fallout from the retail apocalypse is far from over. Tesla also announced it would close "many" of its 378 physical dealerships in favor of online-only sales.
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These announcements will bring the number of planned store closures this year to nearly 4,500, not counting the unknown number of Tesla closings.

https://www.businessinsider.com/jcpenney-gap-and-victorias-secret-announce-300-store-closures-2019-2


Offline Sanguine

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Offline Applewood

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It's the future.

Indeed it is.  Brick and mortar stores are rapidly becoming extinct.  Much of the problem can be laid at the feet of the retailers themselves.   Bad business decisions such as Pennys catering to  the pervert crowd, unsafe malls where many of them are located, not getting with changes in taste and style and overall poor customer service are killing these stores.  People just want to be able to sit in their jammies and do their shopping online.  A lot less hassle.

I'm OK with online shopping  except for big ticket items such as major appliances.  I want to look over the product before I buy.   If retailers like Pennys could have showrooms where I could view "samples" of these items before ordering online, I would be OK with that.

But for everything else, why would I want to fight crowds, be mistreated by employees and maybe run the risk of being robbed or shot when I could just let my typing fingers do the walking in the comfort of my own home?
« Last Edit: March 01, 2019, 05:31:18 pm by Applewood »

Online corbe

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   Proving once again, in JCP's case, that pandering to the homos is not a valid business model for a national chain.
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Offline catfish1957

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Any retail that basically is mall anchored is doomed as far as I am concerned. 

Want proof?  Visit one in a city that usually is under 100,000 population.

Most malls will eventually become Amazon warehouses and distrubtion centers.
« Last Edit: March 01, 2019, 05:19:28 pm by catfish1957 »
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Offline mountaineer

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I can't buy clothing - let alone shoes - online. Guess it's time to shop while the stores are still there.   **nononono*
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Offline QueenCatofAragon

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Trying to buy jeans online is going to be so much fun.
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Offline mountaineer

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Trying to buy jeans online is going to be so much fun.
Exactly.  888mouth
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Offline Sanguine

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Exactly.  888mouth

I'm 5'10" and I find it easier to buy jeans online than in stores.  They never have long enough ones in the stores, but I can go online and buy jeans that fit all day long.

Offline Sanguine

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Gap, JCPenney, Victoria's Secret, Foot Locker: 465 store closures in 48 hours



Posted Mar 01 2019 06:01PM EST

Updated Mar 01 2019 08:11PM EST

FOX NEWS - The 'retail apocalypse' is alive and well this week with major chains such as Gap, JCPenney, Victoria's Secret and Foot Locker all announcing massive closures, totalling the death of more than 465 stores over the last 48 hours.

All four companies reported its fourth quarter results this week during the critical holiday period, with three of them (Gap, JCPenney and Victoria's Secret) reporting declining in same-store sales, while Foot Locker reported growth that more than doubled expectations.

Still, despite the good news. Foot Locker announced Friday that it plans to close around 165 stores across the country, during its investor call.....

http://www.fox5ny.com/news/gap-jcpenney-victoria-s-secret-foot-locker-465-store-closures-in-48-hours

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