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Retailers at risk of closing

Scary ain't it--

lots of really well known names in the retail industry are on the edge of ceasing to exist. The economy is in almost total freefall.
 
I work for Gap, Inc. and one of our brands was mentioned in this article. Our company is in very good financial standing. We will not be going out of business or closing stores. For 09, they have planned to close 89 stores, but open 77. Thats a net closing of 12 stores.

For 2008 (which we're still in, fiscally), my brand is only down 12% from 07 sales. We're doing strong and the complany has communicated their strategies for competing effectively in the softening market.

I know my job is safe.
 
It's a cycle. Some of these companies should have bailed a while ago. I can't believe K-mart is still around!
 
i agree with kmart being time to close. i dont even go in there anymore because the store is disorganized, and just the overall appearance is that no one really cares in the store.
 
I didn't know KMart was still in operation. They pulled out of my area a loooong time ago. nearly 10 years now.
 
lurchinurchin said:
Dillards will fail this year along with JC Penny most likely...Target may also fold...
Click to expand...


Target being mentioned here surprises me. There are more of them around here than any other store, and they all seem to be doing OK, but I only see Southern Calif.
I would not be surprised to see K-Mart/Sears go, they've been outdone by Target for years now and really have seen their day.
 
The only places Sears has been doing well have been in the malls. In merchandise, their tools have been solid, because they're darned good.
But part of their problem is that they've relied heavily on Sears Financial... which is suffering just as a lot of the rest of the financial sector.

If they fold entirely, there will be a lots of holes in the mall.
 
thedolaon said:
On a lighter note, when this recession is over, i can see soooo many new business and new clohting stores happening!!
Click to expand...

Maybe -- if new regulations don't make it even harder than it is now.

Thirty years ago, a high school kid could start a new business. Now, you need licenses, insurance, and all kinds of crap that nearly require a lawyer to get you up and running.

Give the socialists a few more years, they may make this recession/depression permanent.
 
Wow. I hate to be Little Miss Ray of Sunshine, but here's the really bad news: All retailers are struggling. If you work in Retail in 2009, NO job is safe. None of them--Sorry, Gentlemen.

Once 4th Quarter results are in, and most will be done in early February, watch for every single Retail operation to examine their operations, and watch for a bloodbath. Underperforming stores will close--suddenly--if the entire operation doesn't go into reorganization, or even worse, total liquidation. It is usually cheaper for a retailer to shutter a store than keep an underperforming one open.

Two segments mentioned in the above posts get a little more analysis from me: General Retailers/Department stores (too hard to separate the two these days) and Specialty Retailers.

General Retailers/Department Stores: EVERYONE took a huge hit over Christmas. Look for major store closings from: JCPenney; Dillards; Target; TJX Companies. I predict death for Sears Holdings/a.k.a. Kame Apart; when the merger happened a lot of this was based on Real Estate holdings, which in case nobody noticed, have tanked this past year. I'll even go further out on a limb and say under Chapter 7, they will sell their two biggest brand names, Kenmore and Craftsman, to that other Retailer that begins with a W and ends with a Mart. Dillards will try first to close stores and fail; the wreckage will be bought for pennies by either JCP or Macy's.

Specialty Retailers: This segment of the market will look hugely different in 12 months. Watch for many failures and mergers. GAP will retrench, close many stores but eventually recover as a much smaller company. Pier One, long suffering--hasn't shown a Profit since 2005--outta here. Jones Apparel will go back to being a supplier and close all retail outlets. Several other smaller Specialty retailers will merge. And hate to say it, thedolaon, but Pac Sunwear doesn't look too good right now--they closed trading at .93 a share on Friday, down from 14.04 within the last year. Save your Pennies!

Other Segments: Rather than go into the rest of it, watch for the following Chapter 11 (reorganization) bankruptcies: Home Depot; Chrysler LLC (if their proposal to marry Fiat doesn't happen); General Growth Properties (mall management); Supervalu (Groceries); Pulte (homebuilder); La-Z-Boy; and if Chrysler goes down, watch for Johnson Controls. Oh yeah, MASCO will also have to file Chapter 11.

OK, I'm done. Back to your regularly scheduled programming of Penis Size, Poop threads, and the grossness of Vajayjays. :p
 
I am saddened by the amount of job losses throughout our nation..........

I wish all JUBers the best during this terrible, terrible time of turmoil..........

..........I just recently received a call from a friend who the previous day had learned
that his job position was being cut and he would need to seek work elsewhere..........

..........dare I say that maybe it is time that America's current "captains of industry" consider bringing home those positions they've outsourced to other than American labor forces..........

..........no sector is going untouched during these tragic economic times
as noted by the once seemingly invincible Microsoft Corporation's recent announcement..........

..........Microsoft, will cut as many as 5,000 workers..........

SEATTLE -- Microsoft Corp. will conduct the first mass layoffs in its 34-year history,
cutting 5,000 jobs as demand for personal computers falls and even one of the world's
richest companies gets burned by the recession. ...
Click to expand...
 
After a discussion with my Partner, I'm reminded of a couple more on the ropes:

Specialty Retailers: Eddie Bauer; Charming Shoppes (Lane Bryant, Fashion Bug, et al)

Technically, Not a Retailer but Important to Me:
Other: Charter Communications, MY CATV/Phone/Internet provider in Michigan. They just hired Bankruptcy Lawyers. I predict they will be sucked up by Comcast. BooooooooHisssssss (I've got Comcast in Colorado and it is marginal at best...)
 
"Darwinism"

The strong survive.

"Americanism"

We will bail them out

"Canadism"

Those bastards are taking us down again.
 
Yooper said:
General Retailers/Department Stores: EVERYONE took a huge hit over Christmas. Look for major store closings from: JCPenney; Dillards; Target; TJX Companies. I predict death for Sears Holdings/a.k.a. Kame Apart; when the merger happened a lot of this was based on Real Estate holdings, which in case nobody noticed, have tanked this past year. I'll even go further out on a limb and say under Chapter 7, they will sell their two biggest brand names, Kenmore and Craftsman, to that other Retailer that begins with a W and ends with a Mart. Dillards will try first to close stores and fail; the wreckage will be bought for pennies by either JCP or Macy's.
Click to expand...

I can't for the life of me picture W-Mart carrying Craftsman -- it would be so superior in quality to everything else in the store it would be totally out of place.

It's my understanding that Sears has known for years that some of the really old outlets needed to go, but some sort of internal politics kept it from happening -- anyone have any knowledge on that?
 
getstoseven said:
Long live Kmart!
I don't get what's so great about Target......although I'll try everyone before going to Walmart.......
If Kmart fails........where do you think their customers will shop?
Click to expand...

Depends on who/what else is in town. In towns around the area, I can think of ones where Rite-Aid will get the business, another where it's WalMart, another where it's Fred Meyer, and several where it will be split up.

It will be interesting to see how things go, because the failure of some could mean indirect rescue for others.
 
One of the original K-marts is doing well outside my city in Taylor, MI. It's nice inside and overall really nice. Though it is competing with a newly built Target now.
 
Kulindahr said:
I can't for the life of me picture W-Mart carrying Craftsman -- it would be so superior in quality to everything else in the store it would be totally out of place.

It's my understanding that Sears has known for years that some of the really old outlets needed to go, but some sort of internal politics kept it from happening -- anyone have any knowledge on that?
Click to expand...

My reasoning about WM buying the Craftsman brand is they are about the only company these days that has the cash/credit to buy it. WM seems to be focusing on brands these days, too. They now sell Apple's iPhone, Sony electronics, Stanley tools, Levi's, Wrangler, Dickies, etc. They recently inked a deal to distribute some well-known Women's apparel brands, but since I don't do Women's clothes :eek:, I don't remember which ones.

With regards to Sears, the big issue is they OWN so much of their own real estate as opposed to lease, they figure as long as they break even (or come close), it is better to keep the tired old outlets open rather than shutter them and let the real estate sit. Especially with their KMart locations.
 
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