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发帖数: 4796 | 1 Retail Apocalypse: 23 big retailers closing stores
Some of the United States' most prominent retailers are shuttering
stores in recent months amid sagging sales in the troubled sector.
The rise of ecommerce outlets like Amazon (NASDAQ:AMZN) has made it harder
for traditional retailers to attract customers to their stores and forced
companies to change their sales strategies. Many companies have turned to
sales promotions and increased digital efforts to lure shoppers while
shutting down brick-and-mortar locations.
FOX Business continues to tally a list of some of the top retailers to close
stores.
Abercrombie & Fitch
Facing declining sales, the once-prominent fashion brand announced last
March that it would close 60 of its U.S. stores with expiring leases during
its 2017 fiscal year. The chain has closed hundreds of store locations over
the last few years while placing an increased emphasis on online sales.
Aerosoles
The New Jersey-based women's footwear company filed for bankruptcy last
year and announced plans to move forward with a "significant reduction&#
34; of its retail locations. While it's unclear how many of Aerosoles&#
39; 88 locations will be affected, the chain said it plans to keep four
flagship stores in New York and New Jersey operational, NJ.com reported.
American Apparel
A fashion brand known for its edgy offerings, American Apparel shuttered all
of its 110 U.S. locations last year after filing for bankruptcy. The brand
has since been acquired by Canada-based Gildan Activewear, which acquired
its intellectual property in an $88 million deal.
BCBG
The Los Angeles-based brand listed liabilities of more than $500 million
when it filed for bankruptcy last February. The chain closed 118 store
locations nationwide last year, though more than 300 remained in operation
under a company-wide reorganization.
Bebe
The women's apparel chain closed all of its remaining 168 stores by last
May, days after it said it was exploring "strategic alternatives for
the company" amid plunging sales.
Bon-Ton Stores Inc.
The struggling department store filed for Chapter 11 bankruptcy, according
to court papers filed in February. The chain, which operates 256 stores in
23 states, also announced it plans to close 42 stores in 2018 as part of a
restructuring plan.
The Children's Place
A fixture at shopping malls, the children's clothing retail said it will
close hundreds of store locations by 2020 as part of a shift toward digital
commerce.
CVS
The pharmacy retailer said it would close 70 store locations in 2017 as part
of a bid to cut costs and streamline its business. CVS still operates
thousands of stores nationwide.
Foot Locker
The sports retailer told investors on March 1 that it would shutter about
110 stores in a push to focus on higher-performing store locations while
also opening about 40 new stores. Foot Locker closed more than 140 stores
globally last year.
"We continue to prune the fleet of under-productive stores and open a
few select, high-profile stores," CFO Lauren Peters said in a call with
investors.
Guess
Guess announced plans to close 60 of its struggling U.S. store locations in
2017 as part of a plan to refocus on international markets.
Gymboree
The kids clothing retailer confirmed last July that it would close 350 of
its more than 1,200 store locations to streamline its business and achieve &
#34;greater financial flexibility," according to CEO Daniel Griesemer.
Hhgregg
The electronics retailer said it would close all of its 220 stores and lay
off thousands of employees when it failed to find a buyer after bankruptcy
proceedings.
J. Crew
The preppy icon, which once thrived under the direction of retail guru
Mickey Drexler, is thriving no more. During a November conference call, COO
and CFO Mike Nicholson said the number of planned store closings will move
to 50 up from the 20-30 originally announced.****"We are committed to
driving outsize growth with strong e-commerce capabilities complemented with
a more appropriately sized real estate footprint" said Nicholson as
reported by Fashionista.com.
J.C. Penney
The department store chain closed 138 stores last year while restructuring
its business to meet shifting consumer tastes. The retailer also announced
plans to open toy shops in all of its remaining brick-and-mortar locations.
The Limited
After a brutal holiday season in 2016, the clothing chain closed all 250 of
its physical stores last January as part of a bid to focus on ecommerce. The
closures reportedly resulted in the loss of about 4,000 jobs.
Macy's
The major retailer said this month it would shutter an additional seven
stores that were previously undisclosed and lay off some 5,000 workers as
part of an ongoing effort to streamline its business and adjust to a
difficult sales environment.
Macy's says it has now revealed 81 of the 100 store closures it first
revealed in an August 2016 announcement.
Michael Kors
With same-store sales plunging, the upscale fashion retailer said it would
close as many as 125 stores to adapt to a difficult, promotional sales
environment.
Payless
The discount shoe retailer filed for bankruptcy last April and has moved to
close about 800 stores this year.
RadioShack
The once-prominent electronics outlet shut down more than 1,000 store
locations earlier this year. The brand now operates just 70 stores
nationwide, down from a peak of several thousand.
Rue21
The specialty teen clothing retailer confirmed last April that it would
close up to 400 of its more than 1,100 locations and later filed for
bankruptcy last May.
Sears/Kmart
Sears Holdings is one of the most prominent traditional retailers to suffer
in a challenged sales environment. The brand shuttered 35 Kmart locations
and eight Sears stores last July and has closed more than 300 locations last
year amid pressure from ecommerce outlets, USA Today reported.
Toys R Us
The venerable toy outlet filed for bankruptcy last September amid mounting
debt and pressure from wary suppliers. For now, the company says its 1,600
store locations will remain open and operate "as usual," with no
changes to organization structure or payroll. Following the 2017 holiday
season, the future of the stores remains unclear.
Wet Seal
The teen fashion brand shuttered its 171 stores last year after previously
filing for bankruptcy in 2015. Declining foot traffic at malls and pressure
from competitors like Zara and H&M contributed to Wet Seal's demise.
/Updated 9-20-17: Toys "R" Us confirms plans to keep 1,600 stores
open and operational despite bankruptcy filing.*
Follow Thomas Barrabi on Twitter @TBarrabi
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