Stores Closing in 2009

1.) Charming Shoppes (owner of Lane Bryant, Fashion Bug, Catherines) Specialty: Women's plus-size 2008 closings: 150 (6% of total) Outlook: Lots of debt, performance is terrible (losses of over $260 million for the 12 months ended in November 2008). The company already said it will close at

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  1. #1
    Deal GURU
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    Default Stores Closing in 2009

    1.) Charming Shoppes (owner of Lane Bryant, Fashion Bug, Catherines)
    Specialty: Women's plus-size

    2008 closings: 150 (6% of total)

    Outlook: Lots of debt, performance is terrible (losses of over $260 million for the 12 months ended in November 2008). The company already said it will close at least 100 more stores this year. Who knows if it can survive?

    2.) Eddie Bauer
    Specialty: Outerwear

    2008 closings: 29 (8% of total)

    Outlook: The specialty retailer catering to 30- to 54-year-olds is on the critical list as losses mount and shares trade at 50 cents. Ultimately unlikely to make it.

    3.) Timberland
    Specialty: Outdoor Apparel

    2008 closings: 40 (16% of total)

    Outlook: Not on the critical list, but expect significantly more closings. The footwear company is still sponsoring this year's Sundance Film Festival.

    4.) Ann Taylor
    Specialty: Women's apparel

    2008 closings: 60 (6% of total)

    Outlook: After 180 layoffs, the women's clothing chain announced an additional 57 store closings over the next two years. Relatively healthier than other struggling retailers, but figures to shrink further.

    5.) Zales/Piercing Pagoda
    Specialty: Jewelry

    2008 closings: 105 (12% of total)

    Outlook: Absolutely in free fall, more closings for sure. Zales may not make it.


    6.) Pep Boys
    Specialty: Auto parts

    2008 closings: 33 (6% of total)

    Outlook: In terrible shape, along with the auto industry. Certainly more closings to come and could go away.

    7.) Sprint Nextel
    Specialty: Mobile phones

    2008 closings: 125 (9% of total)

    Outlook: After closing a large number of stores, there are still more to come. The cellphone segment was tremendously overbuilt. It's hard to justify such a narrow product mix in this environment.

    8.) Starbucks
    Specialty: Coffee

    2008 closings: 600 (9% of total)

    Outlook: Trapped in a consumer trade-down that has customers buying their java at McDonald's and Dunkin' Donuts, expect Starbucks to close hundreds more of its stores. Being the high-priced alternative doesn't pay right now

    9.) Pacific Sunwear (Pac Sun)
    Specialty: Teen casual wear

    2008 closings: 153 (demonstration stores; 16% of total)

    Outlook: The company is at risk, though not an immediate candidate to go away. Expect many more store closings over and above the demonstration unit, which catered to specific lifestyle segments like hip hop. Analysts expect a loss of 49 cents per share for the year ending Jan. 31, after a 68-cents-per-share profit last year.

    10.) Gap
    Specialty: Casual apparel

    2008 closings: 85 (3% of total)

    Outlook: Struggling Gap has hundreds of store closings still ahead of it. Three brokerages have downgraded shares over the past month.

    11.) Another possible casualty: Sears Holdings (nasdaq: SHLD - news - people ), operator of Sears and Kmart stores. A key to hedge fund manager Eddie Lampert's 2005 merger of the two chains was in the underlying real estate. But with those values down 30% or so since then, slumping sales hit even worse

    12.) What plagues Starbucks will also affect other upscale goody chains like Mrs. Fields' Cookies, and causal dining outlets like Applebee's and Cheesecake Factory (nasdaq: CAKE - news - people ). Any of the neighborhood outlets for those restaurant chains could be a casualty this year. For too many customers now, it's McDonald's (nyse: MCD - news - people ) or bust.


  2. #2
    Frugal Goddess
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    Default Re: Stores Closing in 2009

    I love Zales!!! Got our wedding rings and class rings there too!!
    Tragedy, sadness, loneliness and despair taught me that life is really a beautiful thing; if it wasn't I wouldn't be able to recognize that anything was wrong - Lynn in Virginia

  3. #3
    Freebies Make My Day
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    Default Re: Stores Closing in 2009

    I saw this today, what are they going to do with ALL of these empty stores? Chances are nothing new will go in, then the mall owners will have too raise the rent for everyone else and so on. Lets not mention all the emply office cubes, ..........

    I live right next to the Best Buy new headquarters (4000 offices), 5 years later 1/2 are still empty and they now have a new policy which allows workers to work from home (come in for meetings only or have meetings in a park, online). What will happen with all these office buildings when more companies follow down this road (and they will).

    What a shame. I read somewhere today that Sears/Kmart might not make it this year. And there was a poll done for US Women, who plan not to buy any new clothes for 2009.
    Hope Everyone Is Enjoying The Day. Best Wishes From MN ~ Pamela

  4. #4
    Frugal Goddess
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    Default Re: Stores Closing in 2009

    You think all the thrift stores will make anything?
    Tragedy, sadness, loneliness and despair taught me that life is really a beautiful thing; if it wasn't I wouldn't be able to recognize that anything was wrong - Lynn in Virginia

  5. #5
    Freebies Make My Day
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    Default Re: Stores Closing in 2009

    I think they may end up rising the prices, just because more people will start shopping there (alot of them are for charities and need $ to help in other areas). Consignment prices may rise as well, for some reason people think these are better than thrift stores (not they are still used, closeouts, as well). I think any company is going to be looking for a way to make money.

    But these are just my opinions. LOL
    Hope Everyone Is Enjoying The Day. Best Wishes From MN ~ Pamela

  6. #6
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    Default Re: Stores Closing in 2009

    Shoot, I like piercing pagoda...

    SEARS?! For real? Sears is too awesome to close

  7. #7
    Budget101 Done Digging
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    Default Re: Stores Closing in 2009

    Jkpjohnson,
    you are on target with thrift stores raising their prices. Have noticed it in the last few months. Actually got some clothing before Christmas at Kohl's 80% & 90% off sale that was cheaper than the thrift store would have been.
    Niddi

  8. #8
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    Default Re: Stores Closing in 2009

    I think Sears and K-Mart have both been in trouble for awhile which lead to the merge if I'm not mistaken. Our K-Mart is always dead. Sears seems busier but not much. Circuit City is closing and Corral Ranch Wear (not sure if that's more local than nationwide) is also closing. I'm waiting for either Home Depot or Lowe's to close. With the economy being the way it is, you would think that the market is too tough to have 2 home improvement stores. I personally like Lowe's, prices are better.

    Too bad about Starbucks. I love their coffee. It's kind of weird though. They are closing so many stores but they just built a new one here. Well, it's not new new. They took over an old Subway and rebuilt. Wonder if this will affect Barnes & Noble since their cafes are mainly Starbucks.

 

 
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