The retail inferno is escalating in 2019.
According to Coresight Research, in the US, year-to-date announced closures have already exceeded the total we recorded for the full year 2018. Coresight Research estimates announced US store closures could reach 12,000 by the end of 2019.
So far this year, US retailers have announced 7,062 store closures and 3,017 store openings. This compares to 5,864 closures and 3,258 openings for the full year 2018.
Here is Coresight’s complete list of store closures so far for this year:
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 that closed in June and closing in July.
Charlotte Russe: 494; but the company’s new owner is opening new stores.
Shopko: 371
Charming Charlie: 261
LifeWay Christian Resources: 170
Topshop: All 11 U.S. stores
Henri Bendel: 23
E.L.F. Beauty: 22
Here are more announced closures that could roll into 2020:
Family Dollar: As many as 390 stores
Fred’s: 442; the company said it would close another 129 stores with going-out-of-business sales beginning Friday.
Chico’s: 74, but 250 over the next three years.
GNC: 233
Gap: Roughly 230 in next two years
Walgreens: 195
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: 72
Victoria’s Secret: 53
Vera Bradley: 50
Office Depot: 50
Kmart: 48
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
Macy’s: 8
Nordstrom: 7
Target: 6
J.Crew: 5
Kohl’s: 4
Whole Foods: 1
Calvin Klein: 1
Pottery Barn: 1
Now, that is a lot of retail store closings! Hopefully, The Fed doesn’t adopt the practice of buying failing retail stores to prop-up REITs and CMBS.
At least Charming Charlie wasn’t named Charming Jeffrey (Epstein)!
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“Best economy ever” ~ Donald Trump
As a former small business owner, when I spoke to my vendors, and customers they all said business was off as the stock market soars and all these great numbers come in for the economy. I don’t know much but my small anecdotal evidence points to something wrong with the economic news we are getting.
This is all wonderful news as far as I’m concerned. Here is my step-by-step take on it:
1) Massive retail chains (a.k.a. Big Box stores) born from central banking debt creation buy all of their wares from China, putting American factories out of business.
2) Big Box mass pricing power puts mom-and-pop and regional retailers out of business.
3) Unemployed impoverished Americans can’t afford to buy their overpriced, low quality Chinese merchandise.
4) Tariffs cut in on their profits, so they raise their prices on their already over-priced junk, leading to more people buying even less.
5) The Big Box retailers go broke in mass.
If we ever want an environment where a stage is reset for American manufacturing and sane, debt-free retailing, the big box stores MUST be eliminated.
Amazon….
“Amazon is set to clear $258.22 billion in US retail sales in 2018, according to eMarketer’s figures, which will work out to 49.1 percent of all online retail spend in the country, and 5 percent of all retail sales.”
All with ZERO federal income tax liability due to sweetheart tax code.
not necessarily
there was not a dollar for dollar transfer from brick/mortar to e-commerce
people are spending less and buying less
Let them buy cake.
Over 7 MILLON infilled jobs ? Best economy in decades and the best employment figures since 1969… BLAH BLAH BLAH & another thing BLAH BLAH BLAH !
I wanted to make as much sense as our wealthy representatives and the circle jerk of supporters
Hillary lost, get over it.
Hillary lost as it should be , Trump won as it should be !
None of that indicates the policies and executive decisions are truly improving anything for average Americans at a pace to rectify 40 plus years of middle class people their industrial jobs and the support that tax base provided but the powers that be still demand that pound of flesh from people tossed under the bus decades ago !
19 times Trump trashed Obama’s jobs numbers as “fake”:
https://theguardiansofdemocracy.com/trump-called-obamas-jobs-numbers-fake-19-times-today-hes-celebrating-julys-jobs-report/
But now Trump doesn’t say the numbers are fake, he says there real.
That’s the old cowboy story about the way they picked a cook. Whoever complained about the food was the new cook. One day, the new buckaroo exclaimed loudly that the coffee was cold and had too much salt. The other cowpunchers said, looks like we got ourselves a new cookie. The young buck added, but that’s the way I like it.
You think those numbers are hard to believe ?
Biden, Sanders and Warren all lead Trump in 2020 poll
https://nypost.com/2019/07/14/biden-sanders-and-warren-all-lead-trump-in-2020-poll/
LMAO
What I am seeing in my area is a retreat from high rent malls to lower rent but nice strip malls. Brick and mortar retailers are attempting to lower fixed costs. The more nimble will probably survive. However, there is a big shakeout coming. On line shopping saves time and gas. Even old fashioned guys like the convenience.
Top 1% crony capitalists are stealing real wage growth by purchasing government advantage. The economy is experiencing a cyclic upturn in a criminal secular trend. No real wage growth for 40 years.
Is this necessarily a bad thing? Businesses that fail should close, right?
There have been such dramatic changes in how people obtain goods over the last 400 years in North America, expecting the current system to continue without changes like massive shutdowns of brick and mortar seems illogical. I’m sure the Hudson Bay guys thought trading beads and brass pots and packing their beaver pelts in canoes would go on forever, too.
Amazon pays virtually nothing for shipping and maintains no storefronts and have a customer based that is not limited by geography, how can anyone with a fixed location compete with that model? I think that with few exceptions- primarily services and fuel- stores, as we know them, will vanish from the American landscape the same way trading posts did in the 19th century.
Shopping on line is better in many ways . You don’t have to be around teenagers running and fighting each other and It’s a lot safer if you live in an area with blacks.
Whites abandoned commercial tv in favor of cable. That is why the airwaves are full of negroes. The same is happening to brick and mortar stores, they are at the mercy of black mobs now that whites are mostly shopping online.
Amazon takes advantage of an ever increasing desperate work force . Yes it’s successful “BUT” Amazon $15 bucks an hour does not give a tax and income base to support squat $22 trillion and climbing debt proves that
This retail business is full of people.
To my surprise, one hundred stories high
People getting loose y’all, getting down on the roof
Folks are screaming, out of control
It was so entertaining when the boogie started to explode
I heard somebody say
(Burn baby burn) retail inferno
(Burn baby burn) burn that mother down
(Burn baby burn) retail inferno
(Burn baby burn) burn that mother down
Dude, that’s my bailiwick. Stick to writing beautiful literature. I know you are disappointed about the rejection notice but Van Gogh never sold a painting yet he left a legacy worth it’s weight in gold. Rappers will one day go the way of the dodo.
I was getting out of the car at Wally World when I heard some rap music, just the voice going on and on. Since I couldn’t make out the lyrics of that literary masterpiece, I substituted my own:
I got no talent
Cause I’m a rapper
Verbal crapper
Pushing the buttons
Looking for some
white girl
To guilt in to bed with
Promises of dick
So big
Bu it’s nothing
but a myth
of the horse
dick
Beat ’em up if
they feel cheated
mistreated turn ’em into
Patty Hearst, y’all
we have way too much retail & restaurant in this country–
if people are putting up their own $ to build/operate them,so be it,but far too much of these enterprises are being built/operated w/loans or share sales & the risks are minimized or hidden from lenders/investors–
i believe that part of the reason the internet hasn’t hurt retail even more than it already has is lousy search engines-
ebay & amazon are easy to use but many other companies have search engines that are frustrating to use if you don’t know the exact name of the product for which you are looking–
A reminder of what the great entrepreneur Henry Ford said on February 11, 1934:
“…Let them fail; let everybody fail! I made my fortune when I had nothing to start with, by myself and my own ideas. Let other people do the same thing. If I lose everything in the collapse of our financial structure, I will start in at the beginning and build it up again…”
I live close to Memphis and occasionally risk my life by going through the sh**hole. I have noticed over the last 40 years as the retail business close and move East, a bit closer to the burbs. A store will close and move 2 miles. A dozen years later, they will close the store and move another 2-3 miles. Every time they move, the blight moves in and the neighborhood goes downhill rapidly. Hickory Hill was the place to live 40 years ago is now called Hickory Hood, for obvious reasons.
Crime moves in –> middle class moves out –> poor move in –> crime increases and gets closer –> middle class moves further out, ad infinitum.
Your such a pessimist.
Where I live, you can’t spit (not that I would) without hitting a CVS or Duane Reade. And do you want to guess what they are selling? PHARMACY….Vaccines and Flu shots. Come and get it!