SALES, RENTALS & LAYAWAYS

PROTECTING EVERYTHING THAT HAS EVER BEEN OF VALUE TO YOU

Open 24/7/365

We Have A Life-Time Warranty /
Guarantee On All Products. (Includes Parts And Labor)

Trumponomics Could Result In 12k Store Closings (#GotBitcoin?)

More store closings coming: An estimated 12,000 shops could close by the end of 2019. Trumponomics Could Result In 12k Store Closings (#GotBitcoin?)

There will be absolutely zero entry-level jobs for young (or old) people.

The retail apocalypse isn’t showing any signs of slowing down.

Eight months into 2019, there have already been 29% more store closings announced than in all of 2018, according to a new report from global marketing research firm Coresight Research.

Based on Coresight Research’s figures, retailers’ earnings reports, bankruptcy filings and other records, more than 7,600 stores are slated to shutter this year and thousands of locations already gone.

Bankrupt footwear company Payless ShoeSource, which closed its remaining U.S. stores in late June, accounts for about 37% of the closings.

The “going-out-of-business” sales and liquidation of other brands is expected to continue. Coresight estimates closures could reach 12,000 by the end of the year, the report said.

Coresight, which has offices in Manhattan, London and Hong Kong, tracked the 5,864 closings in 2018, which included all Toys R Us stores and hundreds of Kmart and Sears locations.

Plus-Sized Retailer Avenue Will Be Closing All 222 Stores

Another Plus-Sized Women’s Retailer Will Be Closing Its Doors

Avenue Stores LLC, owned by private-equity firm Versa Capital Management, has decided to shutter all 222 of its retail locations, Hilco Merchant Resources said in a statement announcing the closures. The company, which operates in 33 states, has hired Hilco and Gordon Brothers to oversee inventory sales.

Versa, Avenue, Gordon and Hilco didn’t reply to requests for comment. Calls to stores in New Jersey, New York and Florida directed Bloomberg to the corporate office in Rochelle Park, N.J., where calls weren’t answered.

Retail Dive And Dow Jones Reported On The Closures Earlier

The specialty plus-sized apparel industry has been under pressure as online rivals like Amazon.com Inc. and big-box retailers from Walmart Inc. to Target Corp. increasingly compete in the space. Plus-sized women’s retailer Fullbeauty Brands Inc. filed for Chapter 11 earlier this year before winning court approval for its plan to restructure the company in less than 24 hours.

Sears and Kmart Store Closings List: 21 Sears and 5 Kmart locations to close in October

Walgreens Store Closings: Drugstore chain plans to close 200 U.S. stores, according to new SEC filing:

The record year for closings was 2017, with 8,139 shuttered stores, Coresight found. This included an earlier round of Payless closings, the entire HHGregg electronics and appliance chain, and hundreds of Sears and Kmart stores.

The pain is expected to continue into future years, according to an April report from UBS Securities.

UBS analysts said 75,000 more stores would need to be shuttered by 2026 if e-commerce penetration rises to 25% from its current level of 16%.

A separate analysis by UBS said tariffs on Chinese imports could put $40 billion of sales and 12,000 stores at risk.

“The market is not realizing how much brick & mortar retail is incrementally struggling and how new 25% tariffs could force widespread store closures,” UBS analyst Jay Sole wrote in the May report. “We think potential 25% tariffs on Chinese imports could accelerate pressure on these company’s profit margins to the point where major store closures become a real possibility.”

Charming Charlie Store Closings: Retailer going out of business, will close all 261 stores in Chapter 11 bankruptcy

Closing All Locations:

Thousands of locations have already closed this year with the final Payless stores finishing their liquidation sales in June. All Charlotte Russe stores closed in April.

Payless ShoeSource: 2,589 (includes 248 Canada locations and 114 smaller-format stores in Shopko Hometown locations).

Gymboree/Crazy 8: 749

Dressbarn: 649. Here are the locations closing in July and August.

Charlotte Russe: 494;

Shopko: 371

Charming Charlie: 261

LifeWay Christian Resources: 170

Henri Bendel: 23

E.L.F. Beauty: 22

Topshop: All 11 U.S. stores

Barneys New York Bankruptcy: Luxury retailer files for bankruptcy and announces 15 closing stores.

Perkins, Marie Callender’s Bankruptcy: Restaurant chain filed for bankruptcy after closing 29 locations

More Closings

Some of the announced closures may carryover into 2020, which was the case with several closings announced in late 2018 such as Lowe’s, Sears and Kmart. Gap Inc. announced Feb. 28 it would close roughly 230 stores over two years. Some retailers also are opening new stores while closing locations including Bath & Body Works and Abercrombie & Fitch.

GNC: 192 stores closed in first six months of year; up to 900 over the next three years.

Family Dollar: As many as 390 stores

Fred’s: 442; the company said July 12 it would close another 129 stores.

Chico’s: 74, but 250 over the next three years.

Gap: Roughly 230 in next two years

Walgreens: 200

Foot Locker: 165, total includes closings outside of the U.S.

Signet Jewelers: The parent company of Kay, Zales and Jared said it would close another 150 stores.

Pier 1 Imports: 57, but up to 145 could close.

Ascena Retail: 120

Destination Maternity: 117

Sears: 21 more stores will close in October; 72 stores closed earlier this year

Victoria’s Secret: 53

Vera Bradley: 50

Office Depot: 50

Kmart: Five more stores will close in October; 48 stores closed earlier this year

CVS: 46

Party City: 45

Sears Hometown and Outlet Stores: 45

The Children’s Place: Up to 45

Z Gallerie: 44

DKNY: 41

Stage Stores: 40 to 60

Bed Bath & Beyond: 40

Abercrombie & Fitch: 40

Francesca’s: At least 30 stores

Build-A-Bear: Up to 30 over two years

Williams-Sonoma: 30

J.C. Penney: 27

Bath & Body Works: 24

Southeastern Grocers: 22

Saks Off 5th: 20

Lowe’s: 20

J. Crew: 20

Barneys New York: 15

Macy’s: 8

Nordstrom: 7

Target: 6

J.Crew: 5

Kohl’s: 4

Whole Foods: 1

Calvin Klein: 1

Pottery Barn: 1

Source: Coresight Research; staff research

Pier 1 Imports Store Closings: Retailer plans to close 57 stores, and more closures could be coming, interim CEO says

 

Related Articles:

Trump Pays No Taxes Unlike His Financially-Illiterate Followers

Warren Buffett Dumps $1Billion In Stocks (#GotBitcoin?)

The S&P 500 Suffered Its Worst Week Of 2019 — And Its Not Finished Falling (#GotBitcoin?)

Trumponomics Results In Lowe’s Laying Off Thousands Of Workers (#GotBitcoin?)

Families Go Deep In Debt To Stay In The Middle Class (#GotBitcoin?)

Fed Lowers Interest-Rate To Stimulate Sluggish Economy (#GotBitcoin?)

Global Manufacturing Recession Weighs On US Economy (#GotBitcoin?)

Financial Crisis Yields A Generation Of Renters (#GotBitcoin?)

Falling Real Yields (0.241% ) Signal Worry Over U.S. Economy (#GotBitcoin?)

Donald Trump’s WH Projects $1 Trillion Deficit For 2019 (#GotBitcoin?)

U.S. Home Sales Stumble, As Pricey West Coast Markets Suffer Declines (#DumpTrump)

Lower Rates Have A Downside For Bank’s Mortgage-Servicing Rights (#GotBitcoin?)

Central Banks Are In Sync On Need For Fresh Stimulus (#GotBitcoin?)

Weak Corporate Earnings Signal A Weak Economy (#GotBitcoin?)

Price of Gold, Indicator Of Inflation And Recession Surges (#GotBitcoin?)

Recession Set To Materialize In Approximately In (9) Months (#GotBitcoin?)

A Whiff Of U.S. Recession Is In The Air Again. Credit Trumponomics

Trumponomics Fails To Deliver As Truckers Cut Payrolls, Job Openings Fall & Tech Hiring Cools (#GotBitcoin?)

Trump Calls On Fed To Cut Interest Rates, Resume Bond-Buying To Stimulate Growth (#GotBitcoin?)

Fake News: A Perfectly Good Retail Sales Report (#GotBitcoin?)

Anticipating A Recession, Trump Points Fingers At Fed Chairman Powell (#GotBitcoin?)

Affordable Housing Crisis Spreads Throughout World (#GotBitcoin?) (#GotBitcoin?)

Los Angeles And Other Cities Stash Money To Prepare For A Recession (#GotBitcoin?)

Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)

How Will Bitcoin Behave During A Recession? (#GotBitcoin?)

Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)

Definite Signs of An Imminent Recession (#GotBitcoin?)

What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)

Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)

Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)

Our Facebook Page

Your Questions And Comments Are Greatly Appreciated.

Monty H. & Carolyn A.

Go back

Leave a Reply