http://www.usatoday.com/story/money/business/2017/01/04/macys-identifies-68-stores-close/96169742/
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Make that 3 dinosaurs
http://www.upi.com/Business_News/2017/01/04/Another-150-Sears-Kmart-stores-to-close-by-April/7941483570174/
Department stores' xmas numbers are looking bad.
http://www.reuters.com/article/us-macy-s-outlook-idUSKBN14O28R
Are there store closings in YUROPE as well?
http://www.businessinsider.com/stores-closing-macys-kohls-walmart-sears-2016-12
No articles on that have caught my eye, but I filter out some of the eurotrash news in my browser. If my hunch is right about online killing brick stores, it would follow that store closings in tech-savvy economies like UK, DE, DK would follow the same pattern ...with the caveat that their urban density is also likely to be affecting this phenom. It seems to me that the stores in our sprawling suburbs are the weakest. Again, just a hunch.
The Limited to close all brick-and-mortar shops this weekend.
http://wdtn.com/2017/01/06/the-limited-to-close-all-brick-and-mortar-shops-this-weekend/
If it all goes e-commerce WE LOOSE something that was nice about shopping before the BIG BOX stores appeared
IMFO
Barnes & Noble cuts forecast as holiday sales fall
http://www.marketwatch.com/story/barnes-noble-cuts-forecast-ss-holiday-sales-fall-2017-01-05
There is an independent video rental store near where I live that opened up a few years ago.... First we had the independent video stores, than we had Block Buster which put them out of business. Later we had Netflix which killed off Block Buster. Now, there is just enough room for a small independent shop again. I don't love Amazon, but I can sell stuff on there much easier than I could at Sears or Target. Maybe when the Big Boxes are weakened there may be some room for Mom & Pops again?
Perhaps it's because we're in a rural/resort area, but M&Ps have been decimated, with the possible exception of those that serve the poor (pawn shops, thrift stores have increased at least 1000%). M&Ps were hit hard here by the recession, then -I think- online sales kept them from restarting.
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>video
Huh! Look what JUST showed up in my newsfeed 2 minutes after reading this thread. Dammit, Echo! Oh wait, I need the command... Echo, quit spying!
Netflix just rolled out a feature like it's 1998
http://mashable.com/2017/01/04/netflix-dvd-app/#0WVOgm2HtPqR
"marching like zombies" in the words of one VP
http://www.businessinsider.com/sears-failing-stores-closing-edward-lampert-bankruptcy-chances-2017-1
> Sears
FWIW, I'm someone who loves to shop when I get to a city, and it has been a long time since Sears was a shopping experience worth seeking out.
I would call the majority of their stuff okay but nothing special.
I would not always call their service okay.
update:
Target offers gloomy outlook for 2017 as sales dip
http://www.marketwatch.com/story/target-offers-gloomy-outlook-for-2017-as-sales-dip-2017-02-28
I love the CEO-speak in this statement:
"We will accelerate our investments in a smart network of physical and digital assets," said Brian Cornell, Target's chief executive and chairman, in prepared remarks. "In addition, we will invest in lower gross margins to ensure we are clearly and competitively priced every day. While the transition to this new model will present headwinds to our sales and profit performance in the short term, we are confident that these changes will best position Target for continued success over the long term."
"we are confident"
That translates to "we don't have a clue"
>we will invest in lower gross margins
...
>lower gross margins
Hhh, yeah, what it really involves to do that long-term; changing the fundamental structure of a company's revenue streams, inventory levels, vendors, and turns/sales volume while continuing to support the high fixed costs of their past.
I've changed the name of the thread, btw, looks as if it might become a thread like my old Dotcom Morgue at wmw.
The Big Box stores are going the same way the department stores went:
1. Big Box stores require high vehicle traffic arteries, but people are driving less and stopping less. 20 somethings don't like cars or driving. Those same arterial roads are often filled with walls of trucks which further puts people off.
2. Shopping online, has become embedded in our society. You can buy the same stuff, or better online with just a few taps on your phone and it arrives 2 days latter on your doorstep - and most people know it.
3. Stores like Aldi are eating away at the grocery end of the big box businesses like Walmart and Target.
4. The "outlot" fast food joints and canned decor sit down restaurant chains (Olive Garden, Applebee's, Friday's) don't attract like they used to and therefore make the area less of a "destination."
>we don't have a clue
QuoteBrick-and-mortar retail is in trouble. You can tell that from reports on this very site of retail bankruptcies and store closings, and from the number of Amazon boxes piled in front of your and your neighbors' front doors. Today, Target executives shared discouraging news of falling sales and profits at its investors day event, and explained that the chain's way forward is to imitate Walmart.
https://consumerist.com/2017/02/28/target-ceo-the-retail-landscape-hasnt-been-this-bad-since-the-recession/
This one died long ago, they just didn't know it at the time.
Abercrombie & Fitch Co. posted its fourth straight quarter of declining same-store sales, as the retailer's efforts to revamp its namesake brand showed little sign of drawing back shoppers.
http://www.marketwatch.com/story/abercrombie-profit-falls-as-sales-slump-persists-2017-03-02
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Barnes & Noble Plunges After Worst Holiday Quarter in Decade
https://www.bloomberg.com/news/articles/2017-03-02/barnes-noble-plunges-after-worst-holiday-quarter-in-a-decade
Hhgregg closing 40% of stores, cutting 1,500 jobshttp://www.marketwatch.com/story/hhgregg-closing-40-of-stores-cutting-1500-jobs-2017-03-02
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Costco Drops After Weak Results Renew Brick-and-Mortar Concernshttps://www.bloomberg.com/news/articles/2017-03-02/costco-tumbles-after-earnings-from-holiday-quarter-disappoint
(I'm sorta surprised by this one.)
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HHGregg Said to Be Filing for Bankruptcy as Soon as Next Weekhttps://www.bloomberg.com/news/articles/2017-03-03/hhgregg-said-to-be-filing-for-bankruptcy-as-soon-as-next-week
Yeah every one of those is like, about time! But costco? Did not expect that yet.
QuoteGeneral Wireless Operations, the joint venture between Sprint Corp. and former RadioShack owners, is preparing to file for bankruptcy, according to people familiar with the matter.
http://www.msn.com/en-us/money/companies/radioshacks-successor-said-to-be-preparing-for-bankruptcy/ar-AAnJuOU
Best headline of 2017:
Walmart Offers Cheap When People Want Easy
https://www.bloomberg.com/gadfly/articles/2017-04-12/walmart-offers-cheap-when-people-want-easy
Costco Is Playing a Dangerous Game With the Web
https://www.bloomberg.com/news/articles/2017-08-24/costco-is-playing-a-dangerous-game-with-the-web
They all have a ways to go, imo. Costco isn't as bad as crap like one price online vs another price in store nonsense I've run into with Target, but they have other issues.
I do think Costco is more insulated than the rest due to being the main bulk/discount buying shop and related shipping costs.
Department stores troubles rise on Penney's, Kohl's results | Charlotte Observer
https://www.charlotteobserver.com/news/business/national-business/article230642334.html#navlink=SecList