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Eight Retailers That Will Close the Most Stores

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Cincinnatus:
It is the time of year again, when America’s largest retailers release those critical holiday season figures and disclose their annual sales. A review of these numbers tells us a great deal about how most of the companies will do in the upcoming year. And while successful retailers in 2012 may add stores this year, those that have performed very poorly may have to cut locations during 2013 to improve margins or reverse losses.

All of the names will be familiar, several have been talked about before as being in financial straits. I will list the 8 and, if interested, go to the link to read the reasons why they are in the shape they are in.

1. Best Buy
2. Sears Holding Corp.
3. J.C. Penney
4. Office Depot
5. Barnes & Noble
6. Gamestop
7. OfficeMax
8. RadioShack

http://finance.yahoo.com/news/eight-retailers-that-will-close-the-most-stores-173320796.html?page=2

Rapunzel:
Our Michael's store closed yesterday. 8888crybaby 8888crybaby

mountaineer:
JCPenney screwed up when new management came in and completely changed their marketing approach, doing away with sales, clearance, etc. Last week, they held meetings with employees, announced lots of layoffs and, I believe, a return to more traditional retailing. It may be too little, too late for them.

Rapunzel:

--- Quote from: mountaineer on February 04, 2013, 12:13:25 am ---JCPenney screwed up when new management came in and completely changed their marketing approach, doing away with sales, clearance, etc. Last week, they held meetings with employees, announced lots of layoffs and, I believe, a return to more traditional retailing. It may be too little, too late for them.

--- End quote ---

Big huge mistake their new CEO made... of course my guess is HE keeps his job!

mountaineer:
Incidentally, anyone here who works in the retail industry should read David Green's book, "More Than a Hobby." He's the founder of Hobby Lobby and tells about how he became interested in retailing as a teen working at a 5-and-10, never went to college, became a store manager by the time he was 21 and went on to create a multi-billion nationwide chain of hobby/craft stores. It's a good "how-to" for anyone who wants to know how to succeed in business in an ethical and honest manner.

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