“Look, John’s last-minute economic plan does nothing to tackle the number one job facing the middle class, and it happens to be, as Barack says, a three-letter word: jobs. J-O-B-S,” the Democratic veep nominee said at a morning rally in Athens.
Wait til the unemployment numbers hit next month. A lot of these stores literally just closed their doors 2 weeks ago so their numbers haven’t even been factored into the picture yet.
I don’t see this economy recovering for another 7 to 8 years with the healthcare bill passing...and I am being generous.
Bite Me is going to tell us how great that “Hope and Change” has worked out for everyone.
LOL...Home Depot thinks it’s economic woes are due to the recesssion. Keep sponsoring those “gay pride” parades, Home Depot, and for you the recession will be eternal...
Thanksk My Favorite Headache.
The only J.O.B.S.’s Biden and the child King have any experience with is the B.L.O.W. type...
Can’t blame Obama for Blockbuster. I spent a year with them on a management track, and pretty much the day I started I could tell the company was in the process of imploding.
I think BLOCKBUSTER was going go under regardless of the economy.
Before we go jumping off bridges, how many of these stores would have closed anyway? I noticed there are several movie rental stores and we all know those are quickly going the way of the dinosaur what with pay per view and quick downloads.
I would give him a pass on the video rentals stores. But must note that JOBS is not a three letter word. And anybody who can mess up a Fuddruckers should be sent to Tijuana to be a dog catcher. Not that I think he would do a good job at it but at least he would be failing in Mexico.
Some of these aren’t a surprise. Foot Locker bought out Footaction and in a lot of places they were basically running two stores carrying the same products in the same mall.
On the video stores, they’re a dying market anyway. Waldenbooks is having the same problem as all the other brick bookstores. Amazon.
The others indicate the weakness of the economy and the hunkering down of the retailers. Several of these chains, such as the Disney Store, sell primarily discretionary products. No surprise that the Highway 84 and the Home Depot are in trouble. Nobody’s building.
Maybe you should have come up with a list? /S
The interesting thing about closing all these stores is that it actually increases sales in the stores remaining thereby driving up same store sales which is a leading indicator. In reality, total sales have declined but the survivors appear to be thriving. Like what happened when circuit city closed down, Best Buy stores sales increased.
A few thoughts:
-As others have pointed out, the video rental chains were/are likely to go out of business anyway. It’s just a dying industry. The rental kiosks and digital cable on-demand movies pretty much make them obsolete.
-A few of the names look like what I call “trendy mall brand” stores. Places like that tend to be really hot for a while, then fall out of favor (though I continue to pine for my beloved Chess King and its endless supply of skinny 1980s’ ties :-) )
-Waldenbooks is well, Waldenbooks. I genuinely am surprised they’ve lasted this long. Everyone I’ve been to has underwhelmed me. They had an okay selection, but nothing compared to a chain like Borders or Barnes and Nobles.
-All of that said...there are a boatload of major retail places out there bleeding an ocean of red ink. Obamanomics may not be the only problem for some of them, but it sure ain’t helping matters. We’re in the soup, and I’ve got a feeling that we’re not going to see significant improvement in this area of the economy for a good long while.
Immediately after the usurpated election of the Presidency I voiced a thought here that America should just shut down in protest for the travesty.
I had no idea that it would happen.
I also think the view is opposite what most people think, America would rather leave a barren wasteland to Obama, people don’t want to work knowing most of their wages will be taxed for Obamacare.
We will salt the earth for you Obama, you will be the King of Nothing.
More Hope and Change, because in the end, that is all you have!
Bookmark and Share Retail Stores Closing Doors Our Latest Roundup for 2010
ESPN ZONE Announced: June 16, 2010 Walt Disney Co. closed its ESPN Zone restaurants in New York; Baltimore; Washington, DC; Las Vegas; and Chicago.
I have been to 4 of ESPN's and the world isn't losing anything. Dirty and grungy, don't care for the patrons.
MOVADO Announced: It will close all 27 U.S. stores.
Nothing earth shattering again. I rarely see anyone in their stores and don't find their "kitchy" product all that appealling. Should have closed a long time ago and left their inventory to specialty retailers like Kays.
DOLLAR STORE Announced: May 8, 2010 A 37-store network announced they will be closing
Now that is too bad. I like the Dollar store and shop there regularly. Always amazed at the quality of inventory for $1. Oh well, hard to make a buck these days.
KENNETH COLE Announced: May 5, 2010 In its May 5th earnings call, Kenneth Cole CFO David Edelman noted that it closed three stores since the beginning of the year and expects to close a total of five to 10 stores by year-end.
They should close all their stores. Usually disorganized and sometimes has an air of unkempt. Their style is dated and belongs at Macy's. Barney's seems like a sensible place to sell their crap. Their stores are not organized and for some reason on purpose. Hate the place and Kenneth Cole would be perfect their. Heck they could start charging a premium for square toe shoes.
MOVIE GALLERY / HOLLYWOOD VIDEO / GAME CRAZY Announced: April 30, 2010
This one is just as tough as the buggy whip business. Time has moved on and theirs has passed by as well.
FUDDRUCKERS Announced: April 26, 2010 Magic Brands, owner of Fuddruckers, said it will use a Chapter 11 bankruptcy “to terminate certain Fuddruckers leases and will close 24 corporate-owned Fuddruckers restaurants by April 30, 2010."
Hmmm.... I licked FuddRuckers, just for the name. Good food. Too bad.
KROGER LITTLE CLINICS Announced: April 8, 2010 The Kroger Co. is closing 20 in-store medical clinics operated by The Little Clinic chain, and plans to revamp the business model for the convenient care chain in which it made an $86 million investment in 2008.
Maybe they will stick to groceries. At least I thought it was weird the first time I saw one of these clinics.
CHARMING SHOPPES Announced: March 30, 2010 Charming Shoppes, Inc., the plus-size specialty retailer with up to 2,121 stores nationwide -- including Lane Bryant, Fashion Bug, and Catherines chains -- announced plans that it would close 100 to 120 of its branches in fiscal 2010.
Just a small adjustment in business and to be expected in this economy. Good products.
CRICKET WIRELESS Announced: March 2010 According to a San Diego Business Journal report, Leap Wireless cut 180 jobs and shuttered 27 Cricket stores nationwide. The flat-rate carrier said the restructuring reflects its changing priorities for the year. Leap spokesman Greg Lund told FierceWireless that 90 of the job cuts were corporate positions and 90 were "field positions." Leap has around 4,200 total corporate employees and now has 242 company-owned stores.
Being in telecom, I just don't get their model. Especially with interconnection fees going up.
84 LUMBER Announced: March 15, 2010 84 Lumber, the industry’s largest privately held chain of lumberyards, closed 10 stores in 10 states on March 15 due to declining housing starts. The Eighty Four, Pa.-based company now operates 289 stores in 34 states, with 2009 revenues of $1.35 billion. In 2008, the company posted sales of $2.1 billion with 335 locations.
I still think they have too many stores and they should expand at the locations they have to peel off business from Home Repo and Louse.
BLOCKBUSTER Announced: February 24, 2010 For the full year of 2010, Blockbuster expects to close a range of 500 to 545 underperforming domestic company-owned stores. Of these, Blockbuster has already closed 253 stores in January 2010 and has identified approximately 150 other stores that are expected to be closed in April 2010. The Company then expects to close approximately 75 to 125 more stores throughout the remaining portion of 2010
Blockbuster isn't in danger of succumbing to the buggy whip syndrome, yet. But, they better get more creative than being a me too with Netflix. Walmart may be the one that kills them.
JONES APPAREL Announced: February 10, 2010 Jones Apparel plans on closing 165 of its specialty retail stores in 2010. While the company declined to say which of its stores would be closed, they indicated that the mall-based retail locations would be closed to allow increased focus on their outlet stores. In 2009, Jones Apparel closed 100 mall-based retail stores which has produced positive results for the parent company of Nine West, Anne Klein, Bandolino and Easy Spirit.
Good idea. Their clothes appeal to someone who no longer cares for the mall and isn't looking to be stylish so much as carry themselves in style.
WALDENBOOKS Announced: January 18, 2010 In a January press release about disappointing holiday sales, Borders Group, Inc. reiterated its decision to close 182 Waldenbooks Specialty Retail stores. According to CoStar's Retail News Roundup, Borders has been "whittling down its Waldenbooks chain since 2001, closing an average of 66 stores per year through 2007. In 2008, 112 stores were closed."
They should change the name of this operation to On Golden Pond. This place has terrible inventory and their layout is even worse than Whoredors. Time to kick the bucket and let Amazon finish it.
FOOT LOCKER Announced: March 3, 2010 In 2010, Foot Locker plans to consolidate its Foot Locker, Lady Foot Locker, Kid Foot Locker and Footaction operations under one management structure. As part of this initiative, it closed 106 underproductive stores during the first quarter and eliminated 120 corporate positions. The company also closed 179 stores in 2009.
These guys are everywhere and they are not a Starbucks. They need to consolidate and leave their underperformers. I sometimes feel as if the employees are not engaged in the business of helping customers and frequently feel ignored. They need to focus more on front line service.
MOVIE GALLERY Announced: February 2, 2010 Movie Gallery filed for Chapter 11 bankruptcy in February. While not going out of business, the restructuring called for the immediate liquidation and closure of approximately 760 stores. After these initial closings, the company operates 1,906 stores in the U.S., including 1,111 Movie Gallery, 545 Hollywood Video and 250 Game Crazy locations. The company anticipates additional store closings during the Chapter 11 process.
Buh-Bye, Buggy Whips.
HOME DEPOT Announced: January 26, 2010 Due to the recession and lingering housing crisis, Home Depot announced it would lay off 1,000 employees company-wide. In addition, it decided to close three pilot stores: a clearance center in Austell, Ga., a hurricane recovery store in Waveland, Miss. and a small-format store in Wilson, N.C. The company said there were no plans to close any of the chain's flagship "orange box" stores. It remains the largest home improvement store in the U.S. with 1,976 stores.
These guys will be just fine. I can't wander the store aimlessly without someone, several someones, asking what I am looking for or if I need help. They are very creative in solutions as well.
THE WALKING COMPANY Announced: February 2, 2010 The Walking Company filed a reorganization plan under which the company intends to keep 207 of its 214 current store locations open. This was a turnaround from its original plan, announced in Dec. 2009, to close 90 of its underperforming locations.
We'll see. I think they are flat footed myself. Just a sense. Don't have enough info to proclaim their demise but they will be way smaller or something else in two years.
CRABTREE & EVELYN Announced: January 14, 2010 The skin-care products company filed for bankruptcy in July 2009. But, according to the BNET Retail Blog, Crabtree & Evelyn will actually emerge from the bankruptcy -- something that is unusual in the retail arena. In the end, the company will only need to close 35 of its 126 stores.
sometimes I don't get their store placement but overall a good concept and the employees seem to like working there. They should be fine.
DISNEY STORE Announced: February 8, 2010 Disney is in the process of liquidating and shuttering 24 U.S. and 3 Canada Disney Store locations. As of October 2009, there were 340 total locations. The closures are part of an effort to revamp its existing stores to be interactive and more in keeping with the "Magic Kingdom" theme park feel. (Source: CoStar Retail News Roundup) FRENCH CONNECTION Announced: March 15, 2010 The fashion retailer announced that it will close the majority of underperforming stores in the U.S. and sell its Nicole Farhi business as part of a restructuring plan. The total of U.S. stores to be shuttered is numbered at 17, but F.C.U.K. has not released the specific location of those stores.
Over saturated. Can't go anywhere without seeing Disney. They need to shrink again until the economy heats up and then repopulate.
MEN'S WEARHOUSE Announced: March 10, 2010 In its 4Q 2009 conference call, the company announced that due to geographic overlap caused by its 2006 acquisition of the AfterHours Formalwear chain, the company has identified 145 stores that it would likely close.
George Zimmerman has a great concept and the clothes are terrific value. I don't get the placement of some stores, which are most definitely out of site as in the back of mall. If you don't know they are there, you may not even walk past one.
AMERICAN EAGLE'S MARTIN +OSA Announced: March 9, 2010 Specialty apparel retailer, American Eagle Outfitters is shuttering its MARTIN + OSA brand, including its 28 stores and online business. The company expects to conclude the liquidation of the MARTIN + OSA stores by the end of this July. The company opened the first MARTIN + OSA stores, which carried sportswear and casual apparel for men and women age 25 to 40, in fall 2006.
Too much me too products. Shrink and specialize.
WILLIAMS SONOMA Announced: March 11, 2010 Williams Sonoma CFO Sharon McCollam said that the specialty retailer intends to shutter an undisclosed number of stores in large, multi-store markets during the next three years.
Too many stores. People should be coerced into driving to shop at Williams Sonoma. They should shut down at mainstream malls, focus on classes(do more), offer more manufacturer events and get closer to "Membership" type clients. Raise prices, a little.
MACY'S Announced: January 5, 2010 Macy's said it is closing five stores as part of its ongoing effort to weed out underperforming locations amid opening new ones. Following these store closures, Macy's will operate 849 stores, comprised of 809 Macy's and 40 Bloomingdale's stores.
Always full of shoppers and a good selection, no matter what store you are in.