E-mail I received about Retail Stores (any truth?)

Received this and not sure if true but worth looking at-


HERE IS A LIST OF STORES CLOSING



Think twice before purchasing any gift cards from these stores......



Mervyns

STORE CLOSINGS AND LAYOFFS: By the end of Dec. 2008 Pass along or If you have gift cards, hurry up and use them!!



Ann Taylor closing 117 stores nationwide.

A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month



Eddie Bauer to close more stores.

Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.



Cache closing stores.

Women's retailer Cache announced that it is closing 20 to 23 stores this year.



Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide.

The owner of retailers Lane Bryant , Fashion Bug, Catherines Plus Sizes will close about 150 underperforming stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.



Talbots, J. Jill closing stores.

About a month ago, Talbots announced that it will be shuttering all 78 of its kids and men 's stores. Now the company says it will close another 22 underperforming stores. The 22 stores will be a mix of Talbots women's and J Jill, another chain it owns. The closures will occur this fiscal year, according to a company press release.



Gap Inc. closing 85 stores

In addition to its namesake chain, Gap also owns Old Navy and Banana Republic . The company laid the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.



Foot Locker to close 140 stores

In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment



Wickes is going out of business

Wickes Furniture is going out of business and closing all of its stores. Wickes, a 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month.



Goodbye Levitz / BOMBAY - closed already The furniture retailer, which is going out of business. Levitz first announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910 when Richard Levitz opened his first furniture store in Lebanon, PA. In the 1960s, the warehouse/showroom concept brought Levitz to the forefront of the furniture industry. The local Levitz closures will follow the shutdown of Bombay .



Zales, Piercing Pagoda closing stores

The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by Jul y 31. Today, it announced that it is closing another 23 underperforming stores. The company said it's not providing a list of specific store closures. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.



Disney Store owner has the right to close 98 stores The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's Place filed for bankruptcy protection in late March. In the news release, Disney said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.



Home Depot store closings

Nearly 7+ months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc. announced Thursday that it is shuttering 15 of them amid a slumping US. Economy and housing market. The move will affect 1,300 employees. It is the first

time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the underperforming U.S. stores being closed represent less than 1 percent of its existing stores. They will be shuttered within the next two months .



CompUSA (CLOSED) clarifies details on store closings Any extended warranties purchased for products through CompUSA will be honored by a third-party provider, Assurant Solutions. Gift cards, rain checks, and rebates purchased prior to December 12 can be redeemed at any time

During the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners.



Macy's - 9 stores



Movie Gallery 160 stores will close as part of reorganization plan to exit bankruptcy. The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.



Pep Boys - 33 stores



Sprint Nextel - 125 retail locations

New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas . Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.



J. C. Penney, Lowe's and Office Depot are scaling back



Ethan Allen Interiors - The company announced plans to close 12 of 300+ stores in an effort to cut costs.



Wilsons the Leather Experts - 158 stores



Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand Seventy-four underperforming Demo stores closed last May.



Sharper Image : The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close.



Bombay Company

The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online storefront has discontinued operation

[edit on 14-11-2008 by Doomsday 2029]

reply to post by Doomsday 2029


Just curious,

How did you get the email and from who?

(i suppose 'who' is not that important at the mo).

tks

Ties in nicely with these 2 posts

5 and 15!
www.abovetopsecret.com...

and

Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012!
www.abovetopsecret.com...

nice find btw

Wow, interesting. I don't like or give gift cards, it is the lazy gift, I think. I think maybe this can turn into a good thing, eventually. Do we NEED so many retail stores anyway?? Consumers have less disposable income, so these types of stores will be hit. I think other types of stores will take their place, like 'green' friendly type of stores, 'back to basics' types, not these ridiculously overpriced and subpar quality stores that sell useless stuff.

Originally posted by Breifne
reply to post by Doomsday 2029

 

Just curious,

How did you get the email and from who?

(i suppose 'who' is not that important at the mo).

tks

Just a friend from work sent it to me... So a "random" person.

I wonder how much of it is true.

All this info was posted on AOL's site and also Yahoo for tha last several months. All of the PEP boys stores here closed within the last 6 months. Other companies are closing only stores that are marginal profit makers. Some have no credit and are folding completely! Estimates conclude that part time workers will be numbering higher than present numbers for full time workers! Debt among these companies is in the billions nationaly!No one is buying. Company credit card rates that are already high are going up driving some to stop paying altogether on the balances!

Zindo

reply to post by Doomsday 2029


wonder no more!

ALL VERIFIED AS TRUE!

]Ann Taylor Stores To Close 117 Stores, Cut Staff - MarketWatch

Mervyns plans closings, layoffs

LAYOFFS HIT EDDIE BAUER

Cache closing stores

Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide

I supposed I could post everyone of them but whats the point?
You can just google and verify everything yourself.

It is 100% correct.

Mervyns is closing, there's one by my house that has a big "going out of business" banner hanging on the side of it.

Also, Circuit City is closing 155 stores by Nov 16. That's about 20% of
all their stores. They suck anyway.

reply to post by Doomsday 2029


I have just done some research on these stores. Looks like this is all true so far. I am halfway down the list. Warrenb beat me to the links..
Some of these stores started closing in 2007-so some is old news.

[edit on 11/14/2008 by wrangell76]

[edit on 11/14/2008 by wrangell76]

KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. To see the list of store closings, go to the KB Toys Information web site, and click on Press Information



Dillard's to Close More Stores

Dillard's Inc. said it will continue to focus on closing underperforming stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another six underperforming stores this year

Closed all of The Dillard's Travel Agencies on Sept. 1.





(I accidently left out part of the e-mail)

This looks like an older list as stated. Circuit city wasn't listed and there have been more cuts with other stores not listed.

I would think that if they go bankrupt they would not have to honor gift cards because a piece of plastic would not be a secure debt.

Should this come as any suprise ? I've been driving around various suburban areas for the past ten years now wondering "why the hell does another strip mall need to go here !?" . Enough with this "constant expansion" financial model B.S.

see this 3 minute segment on "Growth vs. Prosperity" from Chris Martenson's "Crash Course" series to get a better understanding of just how wrong most experts have been.

www.chrismartenson.com...

Velvet

On their web sites thay are either saying you have so much time to redeem or denying them outright. Some states have laws to prevent this but if they close the doors and have no merchandise then your out of luck either way.

Zindo

[edit on 11/14/2008 by ZindoDoone]

I am a commercial construction manager and worked years building malls across America for two main companies Simon Properties (SPG) and General Growth Properties (GGP) they are no 1 and no 2 in the mall building and management.

GGP 52 week high 51.24 today .49 cents +.14 cents today

SPG 52 week high 106.43 today 53.33 -4.39 today

It is getting worse for retailers each and everyday. Most retailers are made or broke depending on what happens at Christmas......this is going to be the worst year on record for Christmas sales.

Rather than spend the money on "gifts" buy precious metals....gold, sliver and mostly lead.

reply to post by omega007


Yup, Yup, I am heavily invested in Lead deposits. They are located directly below my reloading bench!!!


Zindo

It would be pretty suprising if Compusa closed, again! They just went under, then TigerDirect.com bought them out, just opened a new store here like 6 months ago.

Gap I won't mind so much, I get all my work clothes there. =p

Originally posted by Velvet Death
I would think that if they go bankrupt they would not have to honor gift cards because a piece of plastic would not be a secure debt.

No worries, gift cards are covered by the FDIC now.

Seriously.

Originally posted by anachryon

Originally posted by Velvet Death
I would think that if they go bankrupt they would not have to honor gift cards because a piece of plastic would not be a secure debt.

No worries, gift cards are covered by the FDIC now.

Seriously.

I actually could care less about the gift cards... I'm worried about all the people who are about to become unemployed...

All these people that just got laid-off of fired... haven't even begun to show it's effect on the stock market. If Unemployment just reached 7%, It's gonna take a few months for the markets to start truely feeling it's effects.

This e-mail is not new. It started circulating last spring following an article written by a business publication.

The closings are valid. There will definitely be more. GGP is on the verge of bankruptcy. Commercial real estate in general is going to crash and burn.