Dick's CEO: "The Retail Industry Is In Panic Mode"

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SteveFoerster
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by SteveFoerster » Fri Nov 30, 2018 6:39 pm

Milo wrote:
Tue Nov 27, 2018 12:28 pm
Black Friday has become a 'ghost town' for Sears as the retailer tries to make it through to another holiday season

The pictures must be very hard to look at if you work there!

https://www.cnbc.com/2018/11/23/black-f ... vival.html
The mall near where I used to live has entirely closed except for a Sears that apparently intends to limp to the end of December. But I can't imagine it will still be there in 2019.

Incidentally, this is Landmark Mall in Alexandria, Virginia, which had an encore this summer as a filming location for the upcoming Wonder Woman sequel. Apparently the film is set in the '80s, which was roughly when that mall was last an exciting place, so I suppose that fits.
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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Sat Feb 16, 2019 11:11 am

Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054

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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Mon Feb 18, 2019 2:00 am

Milo wrote:
Sat Feb 16, 2019 11:11 am
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054
I wonder if the pendulum will ever swing the other way? It seems more and more like the tech giants are the new robber barons.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Mon Feb 18, 2019 11:10 pm

Doc wrote:
Mon Feb 18, 2019 2:00 am
Milo wrote:
Sat Feb 16, 2019 11:11 am
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054
I wonder if the pendulum will ever swing the other way? It seems more and more like the tech giants are the new robber barons.
The question for me is how many younger people will shop retail.

This will never swing the other way if they won't.

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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Mon Feb 18, 2019 11:19 pm

Milo wrote:
Mon Feb 18, 2019 11:10 pm
Doc wrote:
Mon Feb 18, 2019 2:00 am
Milo wrote:
Sat Feb 16, 2019 11:11 am
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054
I wonder if the pendulum will ever swing the other way? It seems more and more like the tech giants are the new robber barons.
The question for me is how many younger people will shop retail.

This will never swing the other way if they won't.
My guess is not as many as will subsistence farm.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Tue Feb 19, 2019 7:54 am

Doc wrote:
Mon Feb 18, 2019 11:19 pm
Milo wrote:
Mon Feb 18, 2019 11:10 pm
Doc wrote:
Mon Feb 18, 2019 2:00 am
Milo wrote:
Sat Feb 16, 2019 11:11 am
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054
I wonder if the pendulum will ever swing the other way? It seems more and more like the tech giants are the new robber barons.
The question for me is how many younger people will shop retail.

This will never swing the other way if they won't.
My guess is not as many as will subsistence farm.
I wonder if a lot of land is being freed up for that!

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Doc
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Tue Feb 19, 2019 2:18 pm

Milo wrote:
Tue Feb 19, 2019 7:54 am
Doc wrote:
Mon Feb 18, 2019 11:19 pm
Milo wrote:
Mon Feb 18, 2019 11:10 pm
Doc wrote:
Mon Feb 18, 2019 2:00 am
Milo wrote:
Sat Feb 16, 2019 11:11 am
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
https://www.ctvnews.ca/mobile/business/ ... -1.4300054
I wonder if the pendulum will ever swing the other way? It seems more and more like the tech giants are the new robber barons.
The question for me is how many younger people will shop retail.

This will never swing the other way if they won't.
My guess is not as many as will subsistence farm.
I wonder if a lot of land is being freed up for that!
Probably not these people would be considered to be of marginal value to the folks running things.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Sat Jul 13, 2019 6:14 pm

As a result of the retail implosion, enterprising YouTubers are promoting the dead mall chronicles genre!


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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Mon Sep 30, 2019 6:29 am

Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html

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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Thu Oct 03, 2019 8:06 am

Milo wrote:
Mon Sep 30, 2019 6:29 am
Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html
Bed bath and beyond is closing another 60 stores
Pizza Hut is closing stores that don't have a big delivery/takeout business.

Though I am not sure how amazon competes against them. So this seems to be people not being interested in going out to eat pizza. Or just a lot more competition.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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