Posted on 12/31/2016 12:23:49 PM PST by TaxPayer2000
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 ~SNIP~
Nearly every major department store, including Macy's, Kohl's, Walmart, and Sears, have collectively closed hundreds of stores over the last couple years to try and stem losses from unprofitable stores and the rise of ecommerce.
But the closures are far from over.
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.
~SNIP~
(Excerpt) Read more at businessinsider.com ...
Another thing at Lowe’s I have occasionally taken advantage of in washing machines, dryers, refrigerators, etc., marked way down because they got a ding or a scratch down one side in transit. My washer and drier, and my refrig., all slide into an alcove where you never see the sides, so I always check out the cosmetically “damaged” units first. Also, Lowe’s gives a 10% discount if you served in the military, which my husband uses and it makes a nice discount on large purchases.
I got my 10% discount.
I suppose I’m a typical man. I hate shopping of every kind, except for Men’s Wearhouse. I love that store. Walk in and there’s a guy (likely gay) who figures out what kind of clothes you want/need and he brings it all to you; coats, ties, pants, sweaters, shirts. I’d spend a small fortune each time I went but it was always a great experience.
Still am a nerd and will be looking for Heath-type kids as I need to get back into ham radio. I loved Radio Shack and Sterling Electonics. Gads. That was a time ago!!
“The US has 23.5 square feet of retail space per person....”
That’s room enough for two average sized adults to lie down and sleep.
Yep! Ugly has been around for decades. LOL.
Radio Shack is no longer an independent company but a brand of General Wireless.
Radio Shack went bankrupt in 2015. The assets were purchased by General Wireless who kept open the stores not closed during the bankruptcy. They also sublet space to Sprint for their branks: Sprint , Virgin and Boost Mobile, a store within a store.
From what I saw in my one breif foray to town during Christmas shopping time I’d say that brick and mortar are dead men walking. What I saw was outright depressing. Just a lot of empty. They aren’t even keeping the store fronts up to par. Lights out, dirty, dishelved and generally seedy in some cases.
Academy seemed to be OK but Dick’s Sporting Goods is dead, just over priced.
The mall was dismal.
I bought all my stuff online.
We are in for a huge change in this country and were without or without barky. I don’t know what people are going to do for jobs and the jobs there are don’t pay living wages. I don’t care what minimum wage is. A man can’t live on 10 to 12 an hour let alone feed and care for a family. Just impossible to expect it.
What happens next?
Get tired of going to the store only to find part of what I am needing, not my size, not my color or some really bad compromise in quality or quantity. I just order it.
Gave local a chance for bandsaw blades and made in USA drill bits etc just this last week. NO soap. Ordered it all through eBay. Got exactly what I wanted for a good price and no hassle of going to town or make that three towns in my quest.
Same here. I’m going to have to build a lock box at the gate.
I remember going into Home Depot stores many years ago and being very impressed, they had people who knew what they were doing and were eager to help the customer. I actually thought they might run Lowe’s out of business then but now they seem to be running far behind Lowe’s in nearly all respects.
I have been expecting Houston to sink under its own weight for decades. Even this bust has not fazed it or so it seems. The realtor that sold our house said she has had her best year and best fourth quarter ever! All pretty high end home sales. I’m thrilled to be out of Houston or any area near it. I’m so laid back you dang near have to poke me to find out if I’m concious.
Sears blew it. When I was a kid Sears was the place I bought what I bought. Ordered it at lunch at the store, picked it up when it came in and took it home on the bus in the evening.
Door delivery can’t last. Just don’t see how it can be done cost effectively. I think it will have to revert to some sort of Sears model with deliveries at a brick and mortar pick up facility and online ordering. The big truck will come each day and drop off the orders for people to pick up and home delivery will be an option at a cost.
We will see but brick and mortar stores that try to stock and predict what the customer wants are dead or dying. I wonder what will happen to all the retail space and parking lots?
I would say that you have fairly well summed it up! Only idiots believed that a “service economy” could exist on its own. Purely service employment is only well paid when catering to very well to do people who make their money in other ways. If you are a hairdresser to the “stars” you can become wealthy but if you are a hairdresser to the welfare recipients you work cheap. The same applies to even people in the medical field. No doctor buys a mansion by rendering good health care to medicaid recipients.
CVS built two new stores and took over the pharmacy at Target here, all within two square miles. They have to be taking as much business from each other as from other nearby drug stores.
You mentioned “woman-haters.” Note the last line of the song: “I hate women.”
Yes, indeed!
Dawg!
It’s just crazy! There must be some sort of tax advantage or something?
I had great success buying my wife clothes for christmas. She happened to mention that a local mall store had a big section of ivanka trump stuff. When i finally went shopping about dec.22, i checked it out. Wow, great-looking stuff and it was all on sale. She loved all the stuff and for once i was a hero on christmas morn. Thanks ivanka!
I use amazon.com/smile, and designate the chosen charity to be my local crisis pregnancy center.
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