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 ...
My local Radio Shack recently closed and I miss it. As for the other mall stores, kids don’t have the discretionary income to hang out in the mall and buy, buy, buy like kids did in the past. Everyone is so squeezed financially.
Also, some of it is the fault of retailers. And Amazon isn’t responsible for its competitors’ screw ups.
I saw a man in DSW shoes the other night, trying on shoes, and taking smartphone photos of model-price tags.
The parking lot at “Fry’s” electronics used to be packed, but on a recent trip it was one third filled.
Old Navy in my area consolidated three locations into one.
We are a “built out” town of 200,000 in a metro area of millions.
The trend is to remodel shopping centers, including new major tenants. Even then, some businesses fail.
Those closures then have an impact on truckers, and it cascades down the line.
Malls are used as bus stations and as a place to hang out.
“Agreed. A local talk show host described the mass of fighting teens at a local mall on 12-26 as a major advertisement for Amazon Prime.”
Good point. A lot of those mall stores are on thin ice as it is. Having “teens” running amok in the mall stores is not doing them any good at all. This will deter shoppers even more.
Have you seen the ugly fashions these stores featured the past few seasons that cost an arm and a leg? The stylists must be women haters. When normality reigns in fashion and price, customers will buy the product.
PC has also been the demise of many.
Speaking of shippers...
Brick and mortar stores are dying because its more convenient to shop online and your purchases come to you.
Its just a very relaxing and stress-free way to shop.
That’s the future of retail business.
How is this playing out in terms of mall vs. non-mall stores? I have come to despise going to malls. None of the malls I occasionally visit have a serious urban wildlife problem, but they tend to be crowded, parking is distant, and one is forced to wander a maze of stores to get to the one I want to shop. The basic design caters to folks who think shopping is entertainment. That’s not me.
Walmart opened a new store for almost every one they closed. I know nothing of the other brands listed.
“Those closures then have an impact on truckers, and it cascades down the line.”
While some retail chains are closing stores, I have seen no indication that overall retail sales, including Amazon sales have decreased.
Those good still have to be shipped by truck, they may shipped to an Amazon distribution center, but they are still being shipped.
I can’t buy clothes on line. As for cheaper, depends on shipping rates. And some things, I’ll drive to purchase, because delivery in one piece is problematic. I like choices, and bricks and mortar can still be a viable choice if intelligently run.
I have been picking up “CVS type” items at my grocery store and finding the prices not so bad. Plus, my CVS is kind of dumpy with narrow aisles and understaffed pharmacy. I may move my prescriptions to the grocery store.
The one I wonder about is Staples. Their prices have skyrocketed in the last two years and I’ve taken to getting my office supplies online. It is amazing what a few minutes of searching can yield. I wanted a certain office chair and got it at some online retailer for 25% less than Staples with free shipping. The Staples website was helpful in providing the model number, though! I did go to Staples for a certain item a few weeks ago and the store was empty.
Also, the selection on line is better. I wear big and tall clothes, and my local shop may have one pair of jeans in my size. I just buy it online.
...Men’s Wearhouse... Has been in decline since the board forced out the owner and spokesman, George Zimmerman. “I guarantee it.”
CVS dropped Tricare but picked up USAA cash machines. All I know is that CVS started gouging me for prescriptions so I left in Sep-Oct 2016 after years of going there. Funny thing was one month the prescription would be free, the following $10 and the next month $3.52 - had one pharmacy guru drop all the charges at one location.
Chewy’s is the bomb....I LOVE them! With 4 English bulldogs it is nice not having to handle the heavy bags of food more than necessary. And I finally got my 83 yr old Dad hooked up with them for his 3 dogs. He loves he doesn’t have to schlep the heavy bags, cans and all the other dog goodies from the store to home. Fed-ex sets the boxes right outside his back door for him!
1. Unavailable products. If you can wait, easier to find components on web.
2. Knowledgeable staff. Most readily admit they have no idea what I am looking for.
I went to an RS last week looking for a battery holder for a Raspberry Pi/Arduino project. Sales rep had NO idea what I was referring to.
Sad what happened to RS - I knew some of the execs. It was run into the ground by mismanagement. How they missed the "maker" revolution is beyond me....RS should have been "Spark" or "Adafruit."
They are called "teens" which is Kenyan for Obama Kids.
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