Retail Stores Expect Massive Restructuring
Retailers may close 73,000 stores in the first half of 2009, according to Bloomberg, with Talbots Inc. and Sears Holdings Corp. among the chains shuttering underperforming stores. Circuit City Stores Inc., Linens ‘n Things Inc., Sharper Image Corp. and Steve & Barry’s LLC, have filed for bankruptcy this year as well.
“You’ll see department stores, specialty stores, discount stores, grocery stores, drugstores, major chains either multi- regionally or nationally go out,” Burt Flickinger, managing director of Strategic Resource Group, a retail-industry consulting firm in New York, told Bloomberg. “There are a number that are real causes for concern.”
Retail sales at stores open at least a year probably dropped as much as 2 percent in November and December, the largest drop since at least 1969.
– Express your opinion, comment below.
No comments yet
Leave a Comment
- IBM and Kenshoo Partner to Deliver Premium Search Marketing Solutions
- AddThis Forms New Content Media Services Group; Appoints Three Industry Veterans to Senior Management Team
- USA TODAY Sports Weekly Launches Socially-Integrated App Across All Major Platforms, Powered By MAZ
- Facebook vs. HasOffers, & Why the Mobile App Tracking Landscape Needs to be Disrupted
- Qriously Expands U.S. & U.K. Marketing & Sales Teams, Opens Paris Office