I agree that we have only seen the beginning of this.
I got this today:
STORE CLOSINGS AND LAYOFFS
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 , Catherine's Plus
Sizes will close about 150 under performing 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, Talbot's
announced that it will be shuttering all 78 of its kids and men's
stores. Now the company says it will close another 22 under
performing stores..
The 22 stores will be a mix of Talbot's 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 said 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 1960's, 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 July
31. Today, it announced that it is closing another 23 under
performing 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. Walt Disney, in the news release, 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. (E. Brunswick, Rt 18 just put up their
closing sign) ATLANTA - 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 U.S. 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 under performing U.S. stores being closed
represents 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 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.
Pacific Sunwear - 153 Demo stores
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
under performing 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: (Freehold Mall store closed) The company unveiled
plans to close all 384 U.S.-based Bombay Company stores. The
company's online storefront has discontinued operations.
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 under performing 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 under performing stores this year.