It has been reported that strong department stores such as Macy’s and J.C. Penney are not doing anything to make progress, while other big sellers like Gap and Talbot are losing their market share and shrinking store counts. RetailTraffic also admitted that store closings could spike this year as consumer electronic chains become the next to cut down amid price pressure from Wal-Mart and a lack of any new hot items. Meanwhile, store openings will likely appear from Dollar Stores, Family Dollar and Wal-Mart.
Although the industry is doing a lot of method to develop, many retailers are still facing difficulties. Below is the list of retailers that significantly reduced their shop and store count in 2011 and they might not where you opt for shopping in 2012, researched by Forbes magazine.
Borders
Stores Closing: 633
Pct. of Total: 100%
The liquidation of the book seller is currently completed
Blockbuster
Stores Closing: 405
Pct. of Total: 23.8%
Blockbuster was brought out of bankruptcy; it tends to manage to maintain about 1,300 stores, at least for the time being
Gap
Stores Closing: 189
Pct. of Total: 20.9%
Gap is closing its fifth flagship stores in the US by year-end 2013
Charming Shoppes
Stores Closing: 240
Pct. of Total: 12.1%
The adult women’s apparel chain Charming Shoppes is still paring down amid losses
Stride Right
Stores Closing: 75
Pct.of Total: 19.6%
The children’s shoe chain Stride Right is scaling back. It plans to close a combined 475 Payless ShoeSource and Stride Rite locations
Anchor Blue
Stores Closing: 117
Pct. of Total: 100%
The teen denim chain, Anchor Blue shut down in 2011
Talbots
Stores Closing: 100
Pct. of Total: 18%
Talbots closed down 35 locations during the first nine months of 2011
AJ Wright
Stores Closing: 71
Pct. of Total: 100%
AJ Wright is a low priced chain for TJX companies, but extreme value pricing doesn’t work for apparel
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About the Author:
Jolie Crussel, an economic expert, is keen on analyzing the economic situations in the world. Currently, she often delivers lectures on economic solutions to students and provides advice for many firms.
Articles Source: Stores Might Be Closed and not for Shopping in 2012
Posted in: Business Closing
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