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
- Ad-Blockers: Let’s Call Them What They Are!
- AerServ Partners With Unreel.me As Exclusive Connected TV Mediation Platform
- 65% of Marketers See Digital Video Drives Offline Sales: Sequent Partners’ Study
- What the 2016 Election Can Teach Marketers About Using Digital Media
- Deep Learning–AI that Recognizes Attitude & Intention–From RTB House