Posted on 02/11/2014 10:49:47 AM PST by Para-Ord.45
Hundreds of stores across the nation are closing as some of Americas most famous retailers struggle to stay in business. The country is facing what CNBC has labeled a tsunami of store closings and blogger Michael Snyder has called a retail apocalypse.
JC Penney, which lost $586 million in three months in 2013, is planning to close 33 stores in 19 states and lay off 2,000 people. JC Penneys stock has lost 84 percent of its value since February 2012.
Sears has decided to shut down its flagship store in Downtown Chicago, and it has closed 300 stores in the United States since 2010.
Macys, one of the few retail success stories, is planning to close five stores and eliminate 2,500 jobs.
Radio Shack is preparing to close 500 stores, according to The Wall Street Journal.
Best Buy recently closed 50 stores and eliminated 950 jobs at stores in Canada.
Target announced plans to eliminate 475 jobs and not fill 700 empty positions to reduce costs
(Excerpt) Read more at newswatch.us ...
Imagination
The decision results from decreased sales
That is also true for Penny’s where the ellen flap is not really a factor either
“Or buying stuff online.”
Four ink cartridges for my Canon printer cost $22 each, $88 total, at my locally owned office supply store. But I got the same four for $4.25 each, $17 total, free shipping, from Inkfarm.com. Just sayin...
No reckoning.
The 1%’ers will just up the level of shriek when SPORTS!!!! is on tv.
But the recession is over isn’t it? :-)
Oh, that commercial was so offensive. Did you see the one for Barnes and Noble with that raging twink?
I don’t do retail anymore because of the higher prices and SALES TAX that I refuse to pay.
I’ve been expecting my local Sears to go out of business for the last 15 years. As for Penney’s, when I walk through there, I’m thinking, “Who’s going to buy all this stuff?” Their inventory just seems way too large. They could probably reduce their clothing inventory by at least half.
No. I don’t watch enough TV, thank god.
Barnes & Nobles still exists?
lol
Seattle actively discourages people from driving cars into town, the buses are full of derelicts, so I think, “Thank you very much, I’ll just shop on-line or in the suburb where I live.
I don’t think buyers have personal discretion any longer and haven’t for a long time. They are just flunkies who manage the relationship with a pre-picked vendor and keep the records. Vendors are picked on the basis of cost. A nickle per item can sway the deal. Just look at the quality of fabric available today.
My mother was a buyer for 5 Carson, Pirie, Scott stores way back in the day. When they were bought by Kohl’s she no longer “went to market”, she just accepted and checked in the merchandise the Inventory Control Manager had selected.
I can’t even recall when that was. Maybe the 1970s.
there is a small place near here that refills cartridges and sell them chep, not $4.25 but still cheaper than new. “Cartridge World” or something
I think thats a stretch. The civilians are plain tapped out and/or bunkering down.
You're both right.
Civilians are stretched thin and profit margins are shrinking everywhere; but
anti-Christian advertising is making consumers' choices easier of whom to push off the cliff.
Penney’s: circling the drain for years
Sears: see Penney’s
Radio Shack: see Sears
Macy’s: owns 800 stores, and acquisitions mean some are competing with each other.
Best Buy: over-expansion, famously lousy customer service, Amazon eating lunch.
Correction to post above: I’m not even sure if Carson’s was purchased or just went out of business. Mom did go to work for Kohl’s after that, but I could be wrong about them buying Carson’s.
I bought a contraption that feeds bulk ink into the individual canon cartridges. I buy ink by the pint, black by the quart.
When it stops roughly every 18 months, it takes some time to get it re set up but it saves the hassele of getting individual cartridges.
Before that I bought ink in bulk and refilled the cartridge with a hypodermic syringe provided with the bulk ink
Target’s the only one on that list that’s even slightly shocking. The rest have a long history of mismanagement and/or being on the wrong side of the technology curve. Even Target is running into technology curve problems, I just didn’t think they were that far behind.
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