SUBHEAD: Brick and mortar chain stores are dropping like flies and the carnage will continue.
By Mike Timmermann on 24 April 2017 for Clark.com -
(http://clark.com/shopping-retail/major-retailers-closing-2017/)
Image above: Closed Sears department store at Salem Mall in Trotwood, Ohio. From (https://www.flickr.com/photos/army_arch/15275399304).
“The reality is that America has been over-stored. We have far too many retail locations, shopping centers and branches of different chains,” Clark Howard said. “But stores that are meeting your needs with low prices will continue to thrive.”
In the meantime, here’s our list of major retailers that are closing stores in 2017:
Sears Holdings isn’t finished shutting down under-performing Sears and Kmart locations quite yet.
In a news release dated April 21, the company said it has made significant progress in its restructuring program, with $700 million in annualized cost savings so far.
The initiative began earlier this year with closures of 150 non-profitable stores, which included 108 Kmart and 42 Sears locations.
Now, the retailer says 92 under-performing Kmart pharmacies and 50 Sears Auto Centers are shutting down. No list of the affected locations was immediately available.
Meanwhile, Business Insider has compiled a list of additional Sears and Kmart stores that are quietly being shut down, according to local media reports.
Here’s the list so far:
Women’s clothing retailer Bebe Stores is shutting down all of its roughly 180 locations nationwide.
In a filing with the Securities and Exchange Commission dated April 21, the company said it expects to close all stores by the end of May after liquidation sales are held.
The retailer’s future remains unclear, though some speculate it will continue as an online-only merchant.
A message on rue21.com read, “It’s true – we are closing some stores. It was a difficult but necessary decision. But the good news is we still have hundreds of locations across the country, and our website rue21.com, open for business!”
Rue21 has posted a list of the locations that are closing on its website. Click here to see if yours is affected.
JCPenney is delaying plans to close 138 stores because sales are up since the retailer announced that it was shutting them down.
USA Today reports that liquidation sales at those locations have been postponed until May 22 and store closures have been pushed back six weeks to July 31.
Here’s a list of the 138 stores that will be closing.
Macy’s plans to close about 15% of its locations amid a challenging retail environment.
The retailer revealed in August 2016 that it would close 100 of its 730 stores to concentrate on better-performing locations to “elevate their status as preferred shopping destinations.”
In a January 4 news release, Macy’s announced 68 of the closures. Of the 68, three have already closed, 63 were scheduled to shut down in early 2017, and two will be closed in mid-2017.
The company plans to close approximately 30 additional stores over the next few years.
According to a news release, the company plans to shut down about 60 U.S. locations during fiscal 2017 as leases expire. Fortune reports that A&F will have 670 remaining stores, down from 839 just five years ago.
Guess brands operate 945 retail stores in the Americas, Europe and Asia. Some 400 of those stores are in the United States.
Read more: Confirmed: The Limited is closing mall stores across the country
According to a news release from January 10, Canada-based Gildan Activewear’s $88 million bid at a bankruptcy auction won the rights to American Apparel’s brand and some assets. However, retail store assets were not part of the purchase, according to Gildan.
Read more: American Apparel is expected to close all 110 stores soon
The Star Tribune reported in early February that liquidation sales have started and are expected to run eight to 10 weeks before the stores close for good.
The company’s mini-shops within Macy’s will remain open.
“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify. We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process,” W. Paul Jones, Payless chief executive officer, said in a statement.
Payless has approximately 4,400 stores in more than 30 countries. Here’s a list of the stores that are closing.
Liquidation sales have begun at the retailer’s 132 stores, which will close by the end of May. In March, the company announced the closure of 88 locations.
The news comes after hhgregg failed to find a buyer by its April 7 deadline.
GameStop has struggled due to weak sales of certain video games and “aggressive console promotions” from its competitors.
The closing locations represent 36% of RadioShack’s stores, Business Insider reported. Here’s the list.
During a recent earnings call, Staples said same store sales in North America were down 7% during the fourth quarter of 2016. The drop in sales was blamed on lower foot traffic.
Read more: Staples to shutter 70 stores in 2017
In late February, we began to get the first reports from local media about exactly which locations already have been or will soon be shuttered, including more than 10 stores in Illinois.
Read more: New list: These CVS locations will be closing soon
More than 1,200 employees will be impacted by the closures. Here’s the list.
Read more: Family Christian closing all 240+ locations
See also:
Ea O Ka Aina: Retail Zombieshaunt the malls 2/15/17
.
By Mike Timmermann on 24 April 2017 for Clark.com -
(http://clark.com/shopping-retail/major-retailers-closing-2017/)
Image above: Closed Sears department store at Salem Mall in Trotwood, Ohio. From (https://www.flickr.com/photos/army_arch/15275399304).
“The reality is that America has been over-stored. We have far too many retail locations, shopping centers and branches of different chains,” Clark Howard said. “But stores that are meeting your needs with low prices will continue to thrive.”
In the meantime, here’s our list of major retailers that are closing stores in 2017:
The latest news
Sears & Kmart – 150 stores and counting…
Sears Holdings isn’t finished shutting down under-performing Sears and Kmart locations quite yet.
In a news release dated April 21, the company said it has made significant progress in its restructuring program, with $700 million in annualized cost savings so far.
The initiative began earlier this year with closures of 150 non-profitable stores, which included 108 Kmart and 42 Sears locations.
Now, the retailer says 92 under-performing Kmart pharmacies and 50 Sears Auto Centers are shutting down. No list of the affected locations was immediately available.
Meanwhile, Business Insider has compiled a list of additional Sears and Kmart stores that are quietly being shut down, according to local media reports.
Here’s the list so far:
Kmart
- Livonia, Michigan
- Kahului, Hawaii
- Beavercreek, Ohio
- Meadville, Pennsylvania
- Mill Hall, Pennsylvania
- East Stroudsburg, Pennsylvania
- Spanaway, Washington
Sears
- Miami, Florida
- Alamogordo, New Mexico
- Charleston, South Carolina
bebe – 180 stores
Women’s clothing retailer Bebe Stores is shutting down all of its roughly 180 locations nationwide.
In a filing with the Securities and Exchange Commission dated April 21, the company said it expects to close all stores by the end of May after liquidation sales are held.
The retailer’s future remains unclear, though some speculate it will continue as an online-only merchant.
Rue21 – 400 stores
Teen clothing retailer rue21 is closing about 400 stores, according to its website.A message on rue21.com read, “It’s true – we are closing some stores. It was a difficult but necessary decision. But the good news is we still have hundreds of locations across the country, and our website rue21.com, open for business!”
Rue21 has posted a list of the locations that are closing on its website. Click here to see if yours is affected.
Department stores
JCPenney – 138 stores
JCPenney is delaying plans to close 138 stores because sales are up since the retailer announced that it was shutting them down.
USA Today reports that liquidation sales at those locations have been postponed until May 22 and store closures have been pushed back six weeks to July 31.
Here’s a list of the 138 stores that will be closing.
Macy’s – 68 stores
Macy’s plans to close about 15% of its locations amid a challenging retail environment.
The retailer revealed in August 2016 that it would close 100 of its 730 stores to concentrate on better-performing locations to “elevate their status as preferred shopping destinations.”
In a January 4 news release, Macy’s announced 68 of the closures. Of the 68, three have already closed, 63 were scheduled to shut down in early 2017, and two will be closed in mid-2017.
The company plans to close approximately 30 additional stores over the next few years.
Mall stores
Abercrombie & Fitch – 60 stores
You can add Abercrombie & Fitch to the growing list of retailers that will be closing stores this year.According to a news release, the company plans to shut down about 60 U.S. locations during fiscal 2017 as leases expire. Fortune reports that A&F will have 670 remaining stores, down from 839 just five years ago.
Guess – 60 stores
Guess is planning to pull the plug on 60 of its stores this year. CEO Victor Herrero told analysts of the decision during a Q4 earnings call on March 15. It’s expected that most of the closures will be among the flagship Guess brand stores and Marciano locations.Guess brands operate 945 retail stores in the Americas, Europe and Asia. Some 400 of those stores are in the United States.
Crocs – 160 stores
Crocs announced in a March 1 press release that the brand will be trimming some 160 stores from its 558-store portfolio by the end of 2018.The Limited – 250 stores
After more than 50 years in business, The Limited closed all of its nearly 250 stores across the country on January 8. The retailer indicated that its website would live on, but no merchandise is for sale.Read more: Confirmed: The Limited is closing mall stores across the country
Wet Seal – 171 stores
Bankrupt clothing store Wet Seal has shut down all of its 171 stores, according to the Wall Street Journal. A message on the retailer’s website read, ‘Thanks babe, it’s been real.’American Apparel – 110 stores
Made in the USA clothing manufacturer American Apparel is expected to close all of its remaining 110 stores very soon.According to a news release from January 10, Canada-based Gildan Activewear’s $88 million bid at a bankruptcy auction won the rights to American Apparel’s brand and some assets. However, retail store assets were not part of the purchase, according to Gildan.
Read more: American Apparel is expected to close all 110 stores soon
BCBG – 120 stores
High-end women’s clothing chain BCBG is closing about 120 stores, mostly in the U.S., according to the Minneapolis Star Tribune.The Star Tribune reported in early February that liquidation sales have started and are expected to run eight to 10 weeks before the stores close for good.
The company’s mini-shops within Macy’s will remain open.
Other retailers
Payless ShoeSource – 400 stores
Payless ShoeSource has filed for Chapter 11 bankruptcy protection and will immediately close nearly 400 underperforming locations in the U.S. and Puerto Rico, the company announced April 4.“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify. We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process,” W. Paul Jones, Payless chief executive officer, said in a statement.
Payless has approximately 4,400 stores in more than 30 countries. Here’s a list of the stores that are closing.
hhgregg – 220 stores
After more than six decades, electronics retailer hhgregg is going out of business.Liquidation sales have begun at the retailer’s 132 stores, which will close by the end of May. In March, the company announced the closure of 88 locations.
The news comes after hhgregg failed to find a buyer by its April 7 deadline.
GameStop – 150+ stores
After reporting a drop in fourth quarter sales, GameStop announced March 24 that it plans to close between 2% to 3% of its global store footprint, which means at least 150 stores.GameStop has struggled due to weak sales of certain video games and “aggressive console promotions” from its competitors.
RadioShack – 552 stores
RadioShack has announced the closure of 552 stores after the ailing electronics retailer filed for Chapter 11 bankruptcy protection for a second time in March.The closing locations represent 36% of RadioShack’s stores, Business Insider reported. Here’s the list.
Staples – 70 stores
Staples said in March that it will close 70 locations throughout North America by the end of 2017.During a recent earnings call, Staples said same store sales in North America were down 7% during the fourth quarter of 2016. The drop in sales was blamed on lower foot traffic.
Read more: Staples to shutter 70 stores in 2017
CVS – 70 stores
Back in December 2016, we first told you that CVS had plans to close 70 locations across the country in early 2017.In late February, we began to get the first reports from local media about exactly which locations already have been or will soon be shuttered, including more than 10 stores in Illinois.
Read more: New list: These CVS locations will be closing soon
Gander Mountain – 32 stores
Gander Mountain, the outdoor goods retailer, has announced it will close 32 of its 162 locations. The company filed for Chapter 11 bankruptcy protection in March.More than 1,200 employees will be impacted by the closures. Here’s the list.
Family Christian – 240 stores
Family Christian, the biggest seller of Christian books and merchandise in the nation, announced February 23 that 240 stores in 36 states would be permanently closed.Read more: Family Christian closing all 240+ locations
The takeaway: Use those gift cards ASAP!
“If you have any gift cards in your home that are for major retailers, I want you to go and shop. I want you to use them up,’ Clark said. “And when you don’t know what to give somebody, give them a nice card and give them cash. You don’t have to worry about the store closing when you give them cash.”See also:
Ea O Ka Aina: Retail Zombieshaunt the malls 2/15/17
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