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  1. #1
    Senior Member JohnDoe2's Avatar
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    Apocalypse for retail: 3,500 stores closing in 2017

    Apocalypse for retail: 3,500 stores closing in ’17

    About 70 stores in Ohio set to shutter


    By KARA DRISCOLL | DAYTON DAILY NEWS

    Published on April 4, 2017
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    More than 3,500 stores could be closed within the year, in what some are coining the “retail apocalypse.”


    All locations — 250 in total — of The Limited closed by mid-January.

    ASSOCIATED PRESS


    Major retailers across the country have taken a hit as consumers shift their spending habits online in the age of e-commerce. In Ohio, at least 70 retail brick-and-mortar stores are set for closure, forcing thousands to look for new jobs.

    Some closures started as early as late December, but most closures were announced in January after the holiday shopping season.

    Then, a barrage of other store closures followed in the coming months.


    Some closures include:

    All locations — 250 in total — of The Limited closed by mid-January in Ohio and across the United States. The closures affected up to 4,000 jobs nationwide. The brand, which had at least nine locations in Ohio, also shut down its retail website.

    Family Christian, a Christian gift and bookstore chain, said it would close all 240 of its stores nationwide. The chain has 12 locations in Ohio.


    RadioShack announced it was filing bankruptcy again, after filing in 2015. This time, the electronics retailer said it would close 552 stores, including more than 30 in Ohio.


    J.C. Penney will close four stores in Ohio, including one in Findlay. The struggling retailer, which will operate 900 stores, cut its brick-and-mortar sites by 138, affecting 5,000 workers nationwide, including hundreds in Ohio.


    Macy’s will close three stores in Ohio.

    Kmart will close six in the state; Sears will close four.

    Other retailers such as Bebe, Crocs, GameStop, American Apparel, Guess, and Gander Mountain also will close stores nationwide.

    More locations could likely close in Ohio, but some retailers have not announced what locations will be affected by downsizing.


    Gordon Gough, president and CEO of the Ohio Council for Retail Merchants, said some consumers are choosing to make transactions online. That affects the store footprint for various retailers and companies.

    “When you’re talking about sales that go to online-only retailers that don’t have presence here, that’s a shift in consumer demand,” Mr. Gough said. “Will it have an impact on the local economies? Sure.”

    In February, retail industry employment fell by 31,300 jobs from the previous month.
    However, February retail sales grew slightly, by just 0.2 percent compared to January, but that was not reflected in many store sales.


    Clothing, general merchandise, electronics, furniture, and sporting goods all lost sales compared to January. Some saw slight increases compared to the past year, according to the National Retail Federation.

    http://www.toledoblade.com/Retail/20...ing-in-17.html

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    Senior Member JohnDoe2's Avatar
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    "The retail industry shed 30,000 jobs as department stores and other physical retail outlets across the country shut their doors because of tougher competition from online platforms."

    U.S. hiring slumped in March as employers added only 98,000 jobs

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    HHGregg to close all 220 stores by the end of May

    POSTED 4:52 PM, APRIL 8, 2017, BY BEN BRICE



    MIAMI, FL - MARCH 02: A hhgregg electronic and appliance retailer store is seen on March 2, 2017 in Miami, Florida. The company announced plans to close forty percent of their stores, eliminating 1500 jobs, as it goes through a restructuring process. (Photo by Joe Raedle/Getty Images)


    HUNTSVILLE, Ala. – HHGregg has announced it will close all 220 of its stores by the end of May.

    The appliance and electronic retailer failed to find a buyer, according to our news partner AL.com. In March, the company announced 88 closures as a part of a restructuring and hoped to reach a sale agreement with a company. The closures will result in 5,000 layoffs across the U.S., including six in Alabama.


    Going-out-of-business sales will begin this weekend at all HHGregg stores. The mcompany has an agreement with Tiger Capital Group and Great American Group to sell its remaining merchandise, furniture, and equipment.

    http://whnt.com/2017/04/08/hhgregg-t...he-end-of-may/

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    Senior Member JohnDoe2's Avatar
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    Mall stores Closing

    Abercrombie & Fitch – 60 stores

    You can add Abercrombie & Fitch to the growing list of retailers that will be closing stores this year.
    According to a news release, the company plans to shut down about 60 U.S. locations during fiscal 2017 as leases expire. Fortune reports that A&F will have 670 remaining stores, down from 839 just five years ago.

    Guess – 60 stores


    Guess is planning to pull the plug on 60 of its stores this year.
    CEO Victor Herrero told analysts of the decision during a Q4 earnings call on March 15. It’s expected that most of the closures will be among the flagship Guess brand stores and Marciano locations.
    Guess brands operate 945 retail stores in the Americas, Europe and Asia. Some 400 of those stores are in the United States.

    Crocs – 160 stores


    Crocs announced in a March 1 press release that the brand will be trimming some 160 stores from its 558-store portfolio by the end of 2018.

    The Limited – 250 stores


    After more than 50 years in business, The Limited closed all of its nearly 250 stores across the country on January 8. The retailer indicated that its website would live on, but no merchandise is for sale.
    Read more: Confirmed: The Limited is closing mall stores across the country

    Wet Seal – 171 stores


    Bankrupt clothing store Wet Seal has shut down all of its 171 stores, according to the Wall Street Journal. A message on the retailer’s website read, ‘Thanks babe, it’s been real.’

    American Apparel – 110 stores


    Made in the USA clothing manufacturer American Apparel is expected to close all of its remaining 110 stores very soon.
    According to a news release from January 10, Canada-based Gildan Activewear’s $88 million bid at a bankruptcy auction won the rights to American Apparel’s brand and some assets.
    However, retail store assets were not part of the purchase, according to Gildan.
    Read more: American Apparel is expected to close all 110 stores soon

    BCBG – 120 stores


    High-end women’s clothing chain BCBG is closing about 120 stores, mostly in the U.S., according to the Minneapolis Star Tribune.
    The Star Tribune reported in early February that liquidation sales have started and are expected to run eight to 10 weeks before the stores close for good.
    The company’s mini-shops within Macy’s will remain open.

    http://clark.com/shopping-retail/maj...-closing-2017/
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    Senior Member JohnDoe2's Avatar
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    Clothing brand Rue21 closing 400 locations across US

    The Warrendale, Pennsylvania-based company has been struggling to pay its bills, according to sources earlier this month


    | Updated: 1:11 PM CDT Apr 16, 2017

    Abigail Elise
    National Curator

    WARRENDALE, Penn. —Clothing chain rue21 is shuttering nearly 400 stores across the country. The Warrendale, Pennsylvania-based company has been struggling to pay its bills, according to Debtwire earlier this month.

    "It’s true – we are closing some stores," the brand posted on Facebook Saturday. "It was a difficult but necessary decision. We still have hundreds of locations across the country, and our website rue21.com, open for business."

    In 2002, rue21 filed for Chapter 11 bankruptcy protection under its former name, Pennsylvania Fashions, Inc. At the time, annual sales were estimated to be between $180 to $200 million. There are nearly 1,200 rue21 stores in 48 US states.

    The brand currently doesn't have a list of all of its store closures, but you can find its locations here and check if a specific store is shutting down.


    2017 hasn't been a great year for retailers. Eighty percent of Americans are now shopping online, leaving brick-and-mortar stores struggling to keep up.

    Last year, online retailer Amazon reported $136 billion in revenue, making it the eighth-largest US retailer based on annual sales.

    JC Penney last month released a list of the 138 stores it planned to shutter as part of a campaign to reduce corporate costs and boost sales at a smaller number of locations. The closings have been delayed after a surge in sales.

    Macy's and Sears also announced major closures this year, and RadioShack filed for Chapter 11 bankruptcy protection in early March, announcing plans to eliminate more than 500 stores across the nation. In 2015, the electronics retailer shuttered about 2,000 locations.

    http://www.wvtm13.com/article/clothi...oss-us/9371466

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    While it will have an effect, I'm hoping what it is reflecting is that people are not wasting money as they have in the past.

    Our economy for the last 40 years, anyway, has been built on excessive buying.

    My fervent hope is that is changing and we are going to get back on a better footing.

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    2 HRS AGO

    Subway's closing of 359 stores marks historic pullback for nation's most ubiquitous eatery

    Written by

    Wire Services


    Subway Restaurants closed hundreds of domestic locations last year, marking the biggest retrenchment in the history of a chain that spent decades saturating America with restaurants.

    The company lost 359 U.S. locations in 2016, the first time Subway had a net reduction. The store count dropped 1.3 percent to 26,744 from 27,103 in 2015, but Subway remains the nation's most ubiquitous eatery. (McDonald's Corp. is No. 1 by sales.)

    The closely held company is coping with a sales slowdown in the U.S., made worse by the emergence of newer fast-casual rivals and the industry's heavy reliance on discounts and promotions. Subway also has lost some of its luster as a healthier-food option. It's been working to restore its status by eliminating antibiotics from its chicken and switching to cage-free eggs.

    In another bid to revive growth, Subway is adding delivery services — a strategy that's also been embraced by McDonald's. And it even unveiled a new, more contemporary logo. But so far, the changes haven't helped much: Sales fell 1.7 percent last year to about $11.3 billion.

    Industrywide, same-store sales continued to slide in the U.S. during March. They dropped 0.6 percent in the fourth straight month of decreases, according to MillerPulse data.

    Subway is still growing internationally, though. Last year, sales outside the U.S. rose 3.7 percent to $5.8 billion as it continued to open locations.

    "Sales for 2016 reflect our focus on international growth," the Milford, Conn.,-based company said in a statement. "We are undertaking an exciting transformation that includes introducing new and improved products, creating an even greater customer experience, refining operations, and positioning Subway franchisees for continued success."

    The sandwich chain also has been overhauling its management team. On Wednesday, the company said it's bringing on former McDonald's executive Karlin Linhardt to lead marketing for the more than 30,000 Subway stores in the U.S. and Canada.

    Last year, Subway hired Katie Coleman to handle global public relations. She was tasked in part with helping the chain recover from a scandal involving former spokesman Jared Fogle. He pleaded guilty to child pornography charges and was sentenced to prison in 2015.

    Subway, owned by Doctor's Associates Inc., was founded about 52 years ago by Fred DeLuca and Peter Buck. DeLuca died in 2015, leaving the company in the hands of his younger sister, Suzanne Greco, who became chief executive officer. The chain's restaurants are entirely owned by franchisees.

    https://www.dallasnews.com/business/...quitous-eatery

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