A giant wave of store closures is about to hit the US

[mystery-ak]

A giant wave of store closures is about to hit the US

    Hayley Peterson

 Retailers are bracing for a fresh wave of store closures at the start of the new year.

The industry is heading into 2017 with a glut of store space as shopping continues to shift online and foot traffic to malls declines, according to analysts.

"I f you are weaker player, it's going to be a very tough 2017 for you, " said RJ Hottovy, a consumer equity strategist for Morningstar.

He said he's expecting a number of retailers to file for bankruptcy next year, in addition to mass store closures.

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http://www.businessinsider.com/stores-closing-macys-kohls-walmart-sears-2016-12

[Sanguine]

I've wondered about that.  Seems like there's a mall on every other block.

[Oceander]

Macy's has already said that it's planning to close 100 stores, or about 15% of its fleet, in 2017. Sears is shuttering at least 30 Sears and Kmart stores by April, and additional closures are expected to be announced soon. CVS also said this month that it's planning to shut down 70 locations.

Mall stores like Aeropostale, which filed for bankruptcy in May, American Eagle, Chicos, Finish Line, Men's Wearhouse, and The Children's Place are also in the midst of multi-year plans to close stores.

[truth_seeker]

FWIW in built-out cities, malls are overbuilt.

Zoning might change to residential.

My built-out town of 200,000 in a huge metro area, is changing zoning to high density housing.

People are up-in-arms. They prefer vacant malls, to more housing.

City employees heed the call of state-federal mandates for high-density housing, with funds granted or withheld.

[montanajoe]

FWIW in built-out cities, malls are overbuilt.

Zoning might change to residential.

My built-out town of 200,000 in a huge metro area, is changing zoning to high density housing.

People are up-in-arms. They prefer vacant malls, to more housing.

City employees heed the call of state-federal mandates for high-density housing, with funds granted or withheld.

[/color]

Many complain of the intrusion of the Federal Gubment but States, Counties, Cities and Towns are dependent on the Feds for grants. Without the Feds all of those entities would either have to raise taxes or do without. For generations Americans have bought into the idea that as long (as they perceive that) somebody else is picking up the tab then its not a problem. Perhaps the greatest failure of today's politics has been the fact that those elected to office from both parties continue to lie to the American people as to the true cost of everything the government funds..

[Weird Tolkienish Figure]

I read an article online which said the that the US is, by far, the most over-retailed society on earth if you measure commercial square footage per person.


It simply wasn't sustainable.