Thread: 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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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/

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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