Just you watch.
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 ...
More than that. Now that a certain segment of the population uses malls as a place to act out their feral instincts, the productive people will stop going to the mall. Big stores will close, one after another.
All because the politicians refuse to admit what is happening with the individuals who are in a specially-privileged class and are immune to prosecution.
Yep.
Yea Radio Shack, bought all the parts I needed to build a guitar amplifier from a schematic in 1977. I learned so much doing that one summer. Those days are gone
Where will happen to the shoplifters and gender neutral bathrooms?
Everytime I saw the commercial I wanted to slap him. Too bad he was forcedout of the company, but don’t miss the commercial.
Yep, you got that right.
Went into a Burlington store today. Most of the shoppers were “Amish”. Merchandise was strewn all over the place and on the floors. It was a chaotic mess. I just turned around and walked out.
I have not been to a mall in years. I don’t like to shop on line either. I shop at stores that I can park right in front of, and walk 10 feet to the front door. There are plenty of small businesses that are like that. I can get everything I want at stores like that.
I suspect CVS is closing stores due to obsolescence and planned consolidations. In my neck of the woods they’ve been building new stores all over the place, to the point where they are competing directly with older existing stores in neighboring towns that have been there for years.
“I would have thought CVS would be more or less immune.”
We have two large CVS stores within 2 1/2 miles of each other. I see a lot of people filling their scripts at Walmart too.
Where = what
Just you watch.
That is EXACTLY the problem, and it tells me we would likely be seeing a lot of store closures even if e-commerce didn't exist.
I've worked with real estate economists who have been warning about this for years. I remember one of them telling me that the U.S. had a fairly consistent ratio of about 10 square feet of retail space per capita from the 1940s until the 1980s, but then retail construction got completely out of hand and this figure got as high as the upper 20s until a few years ago.
The reality we're facing here is that we simply don't need all the retail space that has been constructed in this country over the last 30+ years.
My business associate who has done a lot of business with Sears and Kmart for years, a former Sears insider in fact, has been adamant that they’re not going under, that is until last week. He now says they’re done. Programs dwindling to nothing, not restocking.
I would have thought CVS would be more or less immune. Maybe they shouodn’t have dropped cigs.
CVS is crap, they took over our local drugstore chain which had a sterling reputation, and have driven them into the ground over several years’ time. Problems:
1. Lack of selection of products.
2. Pushing poor quality CVS goods.
3. Empty shelves.
4. Totally illogical arrangement of products in stores.
5. Items advertised on sale, but they are never actually there when you go to buy them, just empty shelf space — “we ran out.”
6. Rearranging of store interiors to shrink aisle space so carts cannot pass each other, and displaying of all sorts of crap goods in the aisles.
7. Printing of receipts that are about 2 feet long and contain all sorts of coupons for “deals,” most of which you actually can’t take advantage of because of restrictions on times the coupons will be good, other goods you have to buy to get the deal, etc.
8. Deceptive sales practices, where they first mark up goods and then purport to put them “on sale” for a price that is still higher than the non-sales price was. The conduct is compounded by foolishly not taking the other non-sale items off the shelf, so people can see they’re being ripped off. Example, “on-sale” plain instant coffee marked with regular price for $3.50 and on sale for $2.99, say, but the same product with “vanilla flavor” is displayed right next to it with an original non-sales price of $2.85.
9. Defective pharmacy software, which causes mispricing and errors filling prescriptions. When you have one of these problems and complain, the pharmacist will tell you their hands are tied, they had to replace their previous software with CVS required software.
And don’t get me going on Macy’s, crap goods at inflated prices . . . .
Both Sears and K-Mart have already gone out of business here.
I am hoping that a lot of this is caused by The Obama Era, and will turn around with a new political system under Trump where everything hasn’t been so crapped up by government.
A big issue. I can’t tell you how many women I have heard say they don’t go to malls now due to this.
He is a huge lefty.
Trump has been quoted as saying that he thought might have a “problem.”
“If ever I walk into a Radio Shack now, I expect to see a TRS-80.”
I’ll shop there when they have a ‘Cherry 2000’ in stock.
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