More large stores closing this year.

Happyflowerlady

Happyflowerlady

Vagabond Flowerchild
Location
Northern Alabama
Even though we may keep hearing that our economy is in recovery, many companies in America that have been kind of icons in the business world, are closing at least part of their stores across the country in the next year.
We are talking about companies like Staples, Office Depot , Sears, Quizno's, and many other well known businesses, in different areas, such as clothing, food, and tech stores.
Here is a list of 16 companies that will be making changes soon, most of them names that we all know well, and think of as too big to fail.

http://wealthydebates.com/retail-tsunami-16-major-chains-closing-more-stores/
 

I'll be sad to see my local Sears shut down. I admit I rarely shop there, but for decades we've bought appliances, lawn mowers, tools, etc. from Sears. There prices on clothes are low too, recently bought a bunch of pocket tee-shirts for us, around $5 each, Russell Athletic brand, also had sweat pants (with pockets) for $9.99.
 
Happyflowerlady said:
Even though we may keep hearing that our economy is in recovery, many companies in America that have been kind of icons in the business world, are closing at least part of their stores across the country in the next year.
We are talking about companies like Staples, Office Depot , Sears, Quizno's, and many other well known businesses, in different areas, such as clothing, food, and tech stores.
Here is a list of 16 companies that will be making changes soon, most of them names that we all know well, and think of as too big to fail.

http://wealthydebates.com/retail-tsunami-16-major-chains-closing-more-stores/
Click to expand...

We lost JC Penneys here in Roseburg, I think, it might have been Sears. Can't remember, don't shop either. Well, not for a long time anyway. It is sad to see all the empty buildings that used to be buildings, anywhere I travel I've seen so much of that.
 

I read on a forum thread that the baby boomers now have all their toys and the decline in their spending habits is contributing to the overall malaise. I know my wife and I buy nothing anymore other than essentials.
 
RCynic, We too spend less, but the younger generation seem to think they have to have everything, and it has to be the latest model, such as phones, cars, even the latest in fashion. They more than counter balance our economy.
 
We have a few of those stores here in London and the UK...many of those names I've never heard of. although we too have many big stores of our own closing down, particularly names we've known since childhood and businesses that were huge and never expected to close their doors for good

We have Abercrombie and Fitch, Staples, and ToysRus like you guys..and there has been no mention of their stores closing here...but I was just wondering if maybe even though they're closing their stores in the US, perhaps the businesses aren't going down the pan but instead will continue to trade online.
 
Woolworths closed but you can still buy from them on line.


In my town several independant shops have closed and with no-one using the empty shops to either open as another shop or other business, as a consequence these buildings become derelict and an eyesore.
 
Landlords are stupid. They charge too much for rent, so the buildings that would normally be wanted as antique stores or thrift stores sit empty. If I could afford the rent here locally for such a shop, I would open a thrift store. That is where the money is nowadays. HIGH END thrift shop, with only nice reusable items, not junk. Alas, the building owners would rather them collect dust with boarded up windows.
 
Kaya, the building owners charge high rent because of our tax codes. If they rent a building for say $200 a month they get $200 a month minus expenses. If they offer the same building for $2000 a month and no one rents it they can claim a loss of $2000 a month on their taxes.

Conservatives have been trying for years to change our tax laws but the liberal democrats love taxes.
 
My experience has been that these big Box stores are their own worst enemies. It seems that whatever I need is not carried "in the store" any longer but they can get it for me! What's the point, I can get it myself on line with no shipping and no tax, who needs the store.
 
marinaio said:
My experience has been that these big Box stores are their own worst enemies. It seems that whatever I need is not carried "in the store" any longer but they can get it for me! What's the point, I can get it myself on line with no shipping and no tax, who needs the store.
Click to expand...

That's why the online business is getting stronger, and stores are closing. It's cheaper to do sales online for businesses too.
That's the future. And it's fine with me, as I have more choices of items/prices when doing online shopping. .. and much less hassle.
Even large, heavy items can be gotten with flat rate shipping. (Overstock, for example)
 
Bonnie said:
That's why the online business is getting stronger, and stores are closing. It's cheaper to do sales online for businesses too.
That's the future. And it's fine with me, as I have more choices of items/prices when doing online shopping. .. and much less hassle.
Even large, heavy items can be gotten with flat rate shipping. (Overstock, for example)
Click to expand...

I agree, Bonnie, I find myself doing more and more online shopping and I too think it is the future.

In my area, Macy's and Dillard's are two of the major department stores, carrying quality merchandise, of the two I like Macy's better, especially their online shopping.
 
Online is OK except when I need it now, that is the value in shopping locally. If all the local shops stock are the fad of the year items they are worthless to me. Even the local hardware stores are stocking fewer essentials lately.
 
Ironic that many physical stores have or will be closing around the same time it's business killing competition like Amazon is under fire for things like sales tax evasion and poor treatment of it's employees in their warehouses and distributions centers. The physical stores/companies have a legitimate beef when they say they can't compete with companies that do not collect sales taxes.
 
The tax issue may be legitimate from the retailer point of view but the consumer often pays more in S&H than would be paid in tax. I think the tax argument is a red herring, an effort by the state and federal governments to get in on the action. I'd much rather drive a couple of miles and buy local at 6-7% tax than pay 10% or more in S&H fees and have product in hand in less than an hour. A few stores like Walmart and Sears will allow shipping to the store for free, tax is charged and the turn around time is generally as short if not shorter than Amazon's. A good compromise in my opinion.
 
I know the main subject here is about stores, but there are also factories closing. The Nabisco plant in Philadelphia is closing.
Nabisco was purchased by a corporation called Mondelez International.
About 8 months ago they closed the plant in Canada. All work was transferred to their plant in Mexico.
550 Canadians lost their job.
Now they are closing the Philadelphia bakery. 350 people working there, will now be in the unemployment lines.
The plant operating in Mexico now has a huge amount of employees. There numbers are up to 2,000 now.
The workers in Mexico earn slightly over $3.00 an hour and have no benefits.
Compare that with the average wage of a North American Nabisco employee's wages which are $23. an hour, excellent benefits, pension & 401K plan.
Nabisco has not been struggling. They have made billions of dollars in profits annually.
$1.8 billion went to their shareholders last year. Their CEO took home $29 million, not including the use of the company jet.
This is not a case of Nabisco hurting. I find their motives shocking. This is a case of corporate greed on steroids.
I now refuse to purchase any Nabisco products.
 
I do a lot of my shopping online. Usually cheaper and its an easy way to shop. Online shopping has to be hurting the big box stores.

I see where Red Lobster is on the list. Not surprising. I haven't eaten there in years until this year when I went there with some family members. The salad was wilted and the main course was nothing special. Hardly no one was there either.
 
I've been shopping online for a long time. I hate going out to a store to look for something that I know I won't find any way. Like everyone else, we use to shop at WalMart (and hated ourselves for it!!) so we haven't set foot in a WalMart store since last November. I refuse to support a mega-giant like them that has gobbled up so many businesses (large and small) for their own personal greed. Besides, they sell nothing but "Made in China" junk. It may cost us a little more but I shop my local businesses for whatever we need in the way of groceries and miscellaneous. If we want/need anything else, I shop online at Amazon (mostly). I don't have Prime because I usually get my orders within 2 days anyway.
 
Walmart is the only real choice we have around here for groceries and such so I do a lot of shopping online at Amazon, Macy's and on Ebay too. Sometimes I just google what I'm looking for and usually I'll find several choices.
 

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