The Computer Industry is going to be the next one to get clobbered.
But the recession is over isn’t it? :-)
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.
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.
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.
Homeland Security protects the rights of illegals... They don’t give a damn about protecting us from radical Muslims. It’s the same with the FBI - they’re ‘oh so concerned’ about right wing grandparents...
And what does this have to do with this story? Many of us have switched to shopping at Amazon or Costco.
This Christmas I didn’t step into one Mall the whole season .. and I wasn’t alone in that choice. It will be the same next year.
Eff you, you waste of tax dollar ‘protectors’...
this is not as much of a concern
IF there is not also growth with other retailers and other forms of retailing (Internet) that offset the specific store closings in the report
for instance, they mentioned J.C. Penney and Target, but I think Kohls, who gives some competition to both of them seems to be doing very well
and, they mentioned Sears, but Sears just made-over a Kmart store in our area not long ago, still operates the Sears store in the closest mall and has another Kmart south of here
and, I think Best Buy is actually picking up and Radio Shack has multiple competitors, including on some certain items Best Buy and on some items Staples and Office Depot/Max, and on some items the local Home Depot or Lowes
and, many of the closings may be long overdue with their least performing stores, meaning not a retreat from retailing but seeking a better ROI, an ROI that certain locations cannot (cannot any longer) provide
I cannot speak for every state, but in Cook County Illinois an empty store automatically cuts its property tax by 50%.
That tax burden is then transferred to the remaining commercial and residential properties.
This will break local, county and state government here.
Good...about time the little guy [if there are any left] gets a small advantage.