The Briefing Room
General Category => Economy/Business => Topic started by: TomSea on July 15, 2017, 02:10:29 am
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RIP Retail: These 19 retailers are closing hundreds of stores in 2017
Published July 14, 2017 Retail Bankrate.com Opens a New Window.
An empty shopping cart is seen outside a closed store, March, 2012. (REUTERS/Shannon Stapleton )
As Americans do more and more of their shopping on their devices instead of at the store, traditional retailers are reeling. Some are being forced to shrink — or go out of business altogether.
Already 2017 has been a year of massive store closings, led by these chains.
Gymboree
Gymboree is scaling back its playground. It’s closing more than a quarter of its kids’ clothing stores as it tries to adapt to an “evolving retail landscape.”
The company filed for Chapter 11 bankruptcy protection on June 11; exactly one month later, it announced it was shutting down 350 of its Gymboree and Crazy 8 locations, out of a total of nearly 1,300.
Payless
Payless ShoeSource filed for Chapter 11 bankruptcy protection in April and said it would shut down around 400 of its weaker stores. In May, the company indicated it could close 408 additional locations.
The discount footwear chain — founded more than 60 years ago in Topeka, Kansas — has found itself running behind online competitors.
RadioShack
RadioShack used to be everywhere, but now the electronics chain has largely vanished from the retail map. The company that once operated 7,300 stores says it closed more than 1,000 of its remaining locations over Memorial Day weekend — leaving just 70 stores still operating.
The retailer that began in Boston in 1921 says the closings continue a move from brick-and-mortar stores to RadioShack.com.
Continued: http://www.foxbusiness.com/features/2017/07/14/rip-retail-these-19-retailers-are-closing-hundreds-stores-in-2017.html
CVS is on the list, interestingly, Walgreen's is not.
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CVS is on the list, interestingly, Walgreen's is not.
Walgreens recently dropped a bid for Rite-Aid and is instead buying some 2,000 Rite-Aid stores.
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Pet Supplies Plus looking at shuttering retail locations and offering direct delivery and other options.
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Mostly clothing retailers.
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Mostly clothing retailers.
I can't speak for everyone, but the women I know in real life have cut back on their clothes shopping. Or are going to stores like TJ Maxx, Marshalls, discount stores and outlets.
They are also cutting back on makeup. Going from high end brands like Clinique and Lancôme to Revlon and Cover Girl.
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I can't speak for everyone, but the women I know in real life have cut back on their clothes shopping. Or are going to stores like TJ Maxx, Marshalls, discount stores and outlets.
They are also cutting back on makeup. Going from high end brands like Clinique and Lancôme to Revlon and Cover Girl.
My experience also. When my granddaughter was here this summer and I offered to buy her make up she chose Target and the lower tier brands.
I have purchased my clothing online almost exclusively for more than a decade. Much of my casual clothing, particularly jeans comes from Costco, otherwise I buy my clothing entirely online.
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My experience also. When my granddaughter was here this summer and I offered to buy her make up she chose Target and the lower tier brands.
I have purchased my clothing online almost exclusively for more than a decade. Much of my casual clothing, particularly jeans comes from Costco, otherwise I buy my clothing entirely online.
Yes, I buy almost exclusively online now. I can find the size, color and style I want at a price I'm willing to pay.
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CVS is on the list, interestingly, Walgreen's is not.
That's excellent news!
CVS still hasn't learned from their earlier activism...they've recently doubled-down.