Stores Closing in 2009

[rtebalt]

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.

[faxonfive]

I love Zales!!! Got our wedding rings and class rings there too!!

[faxonfive]

I love Zales!!! Got our wedding rings and class rings there too!!

[jkpjohnson]

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.

[jkpjohnson]

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.

[faxonfive]

You think all the thrift stores will make anything?

[faxonfive]

You think all the thrift stores will make anything?

[jkpjohnson]

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

[jkpjohnson]

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

[Tarrien]

Shoot, I like piercing pagoda…

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

[Tarrien]

Shoot, I like piercing pagoda…

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

[Niddi]

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]

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.

[mmclean11]

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.

[mmclean11]

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.

[wilbe95]

I had also heard yesterday that Claires will be closing several stores nationwide.

[wilbe95]

I had also heard yesterday that Claires will be closing several stores nationwide.

[Tarrien]

Claire’s tends to overprice things though. They have occasional good priced items but usually not.

[Tarrien]

Claire’s tends to overprice things though. They have occasional good priced items but usually not.

[redring]

I think I actually read that home improvement will go up in an economy situation like this. people will have to do what it takes to cut bills. dh and i are in that boat.

circuit city all closed down here too and dennys and cold stones closed some stores. it really makes me think back to everyone saying we will be a service economy so the industery leaveing is no problem. well i told everyone then and it shows now.

they lied!! the goverment will tell us anything to get there way. obama needs to start working on getting our industery back.

the first bail out came up missing once they gave it out. so what do they do?? they aproved another one!!!!

i heard merile lynch (? ) spent a hundred thousand on an office remodel after reciveing there money. that may not be true but i would believe it.

they need to hand that money back to the people who actually made it. that would spur our economy.

[redring]

I think I actually read that home improvement will go up in an economy situation like this. people will have to do what it takes to cut bills. dh and i are in that boat.

circuit city all closed down here too and dennys and cold stones closed some stores. it really makes me think back to everyone saying we will be a service economy so the industery leaveing is no problem. well i told everyone then and it shows now.

they lied!! the goverment will tell us anything to get there way. obama needs to start working on getting our industery back.

the first bail out came up missing once they gave it out. so what do they do?? they aproved another one!!!!

i heard merile lynch (? ) spent a hundred thousand on an office remodel after reciveing there money. that may not be true but i would believe it.

they need to hand that money back to the people who actually made it. that would spur our economy.

[BellaInara]

I heard that Illuminations is closing. It’s a candle store, with a lot of really nice stuff. They have one in a city near me (in Charlotte, NC).

Shame that all of these store closings is going to put so many out of work.

Shannon

[BellaInara]

I heard that Illuminations is closing. It’s a candle store, with a lot of really nice stuff. They have one in a city near me (in Charlotte, NC).

Shame that all of these store closings is going to put so many out of work.

Shannon

[mcnerd]

As I was driving home I saw my local Rite-Aid Drugs was closing and offering up to 60% off….and I was just in there yesterday! No warning. Now I have to drive further for a drug store.

[mcnerd]

As I was driving home I saw my local Rite-Aid Drugs was closing and offering up to 60% off….and I was just in there yesterday! No warning. Now I have to drive further for a drug store.

[jkpjohnson]

What a shame, I think the smaller towns will suffer the most. I live in the city, do not see much closings YET.

[jkpjohnson]

What a shame, I think the smaller towns will suffer the most. I live in the city, do not see much closings YET.

[Niddi]

mcnerd,
sorry to hear that Rite Aid is closing. Maybe you can take advantage of that 60% off sale to stock up on some items. Do you need any coupons????

[Niddi]

mcnerd,
sorry to hear that Rite Aid is closing. Maybe you can take advantage of that 60% off sale to stock up on some items. Do you need any coupons????

[starsinnight]

Ours SEARS shut down already. And now it’s a brand new Kohls – and we’ve never had one of those before. 🙂 I like the trade. And you can buy sears products now at Kmart anyways.

[Niddi]

starsinnight

You will like the Kohl’s. Watch for their clearance sales, they mark down 70 and 80% off. Christmas they had a 90% off rack and I picked up some great items for next summer.
Also get one of their charge cards (pay it off each time you use it) it puts you on their mailing list for 15-30% off about every other month (must use card to get it) can be used on clearance items for even more savings. Hope you enjoy!

[donnae]

Makes you wonder what the future holds for this economy!!

[jkpjohnson]

I agree with the Kohls comment, the markdowns they have are great, we never buy anything until it hits the clearance racks. I prefer to go to Kohls above all others (and I live just a few miles from the Mall Of America).

[KawaiiGiggle]

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.

Never mind the fact that there’s a starbucks EVERYWHERE you turn!

[mbabb29340]

it’s awful to see all these great stores closing. Times are getting so bad. A lot of local businesses are having to close their doors also. I hope times get better!

~ Misty

[KawaiiGiggle]

one of my bestfriends and i were talking about how she dreamed of opening a store and how even though she has the money she shouldn’t. she is pretty upset by it, which i don’t blame her.

[mcnerd]

I think Mom & Pop stores will be the survivors over time because they will be more connected to the local community and not have the high overhead, but it would need to be for basic needs most of all and probably include some bartering and consignments.

[KawaiiGiggle]

i sure hope so. some of my favorite stores are mom and pop stores. the closeness and the personal level you get with them, instead of a just another face in the store at big stores.

[trfeuer]

There was an article in our local paper recently stating that the Charity thrift shops have seen a big increase in business. I am not sure because it was a few weeks ago but I think it was like 150% at our local Salvation Army.

[KawaiiGiggle]

i’ve always shopped at thrift stores. i never understood why some people i know will go out and spend 200 dollars on clothes and then don’t even wear them.

[semmel88]

my daughter worked over christmas time at the gap guess no job there anymore 🙁

[KawaiiGiggle]

i live by a cici’s pizza, and they closed. my friend was there around new years.. it’s sad seeing all the places close down.. i know a mall i used to go to when i was a teenager is almost empty now. maybe 20 stores out of 200.. really sad.

[semmel88]

Are you German? because of the setence attached to your post?

[KawaiiGiggle]

my bloodline is german and italian and irish. my signature is from a song i like by a band called oomph. it’s basically hide and seek put to music.. LOL!

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