Member since:
August 6, 2008

More stores closing in 2009

January 23, 2009 11:32 AM EST (Updated: March 20, 2009 10:14 PM EDT)

views: 2304 | comments: 71

I know some of you have heard that these stores are closing and some have not. Just thought you would like to know...

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?

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.

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.

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.

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.

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.

Pacific Sunwear

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.

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.

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.

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.

This post came from Yahoo news...

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Comments: 71

Vivian P. Jan 23, 2009, 11:34am EST

wow this is sad

anne ( way 2 crazy of a life ) c. Jan 23, 2009, 11:35am EST

wow zales??? that is so wierd

Mooch -. Jan 23, 2009, 11:36am EST

and if you read furhter into the article and do the picture slide show you will see more stores like Sprint and starbucks on the list as well

Renda B~surviving the storm by dancing in the rain. Jan 23, 2009, 11:38am EST

Circuit City is closing all locations too. I really hated to hear that because I LOVE that store. PIF.

Chris E. Jan 23, 2009, 11:42am EST

I have seen this going around quite a bit and haven't commented but I wonder how many people don't realize this happens all the time. It is not an abnormal occurrence. Stores close all the time because they may not do well in certian areas or a company buys out another company and they have stores that are in close proximity of each other. There are many reason why they close a particular store. Now of course I am sur esome are due to the poor economy but just because a store closes does not mean that the company is going out of busniess.

karen h. Jan 23, 2009, 11:42am EST

wow those are some good stores

Robin G. Jan 23, 2009, 11:46am EST

If the Charming shops group closes down, plus size women will have a real hard time finding much selection anymore as, the 3 listed are top seller in that niche.

Jennifer N. Jan 23, 2009, 11:46am EST

I saw this posted by someone else yesterday. It goes to show how bad the economy is.

Chris E. Jan 23, 2009, 11:49am EST

Really taking a look at the list I would not be surprise if fashion bug Lane Bryant etc do close they have a very limited group they can sell to since it is usually only large sizes they sell.

As for Zales I have always thought they were way overpriced compared to some of the other jewelry stores.

Johnathan Rosson Jan 23, 2009, 12:01pm EST

that is not good at all

♥♥LoViNg♥LiFe♥ ♥♥ Jan 23, 2009, 12:01pm EST

I new about starbucks and the rest don;t suprise me at all.
SAd though

Ashley Prince Jan 23, 2009, 12:02pm EST

I ordered my wedding band from zales. They better still be open in August :(

Walker Bennett, SF Author Jan 23, 2009, 12:05pm EST

Damn! Pep Boys has been around since I was a kid!

It's good to see Starbucks going under. Their coffee is very high among the world's worst. I used to work at one and could tell quite a few stories.

Holli G. Jan 23, 2009, 12:15pm EST

Really?!?! Star bucks! WOW how VERY sad!!! I have never been to starbucks but i thought it was all the rage?!

Faith is ready to be creative and enjoy her life! Jan 23, 2009, 12:30pm EST

It is weird to think of Zales closing and Starbucks.
Circuit City is supposed to be selling off inventory and closing all their stores. My best friend went to check prices and she said they'd only marked down 10% this week, so I didn't even bother to go and look. Hopefully in coming weeks the markdowns will get steeper. I heard they'd be selling until some time in March.

Amanda C. Jan 23, 2009, 1:09pm EST

lots of places closing.

Bed Bath and Beyond closed all locations too, we got some good deals on some stuff there right before they closed in Dec.

It is sad that Circuit City is closing, hubby and I used to always go there before Best Buy.

Teresa T. Jan 23, 2009, 1:13pm EST

That was Linen's and Things. I was in Bed, Bath & Beyond and they told me that for now they are doing fine. Maybe it was just the stores in your city?

lilly @Reading Extravaganza Jan 23, 2009, 1:48pm EST

One thing I'm not surprised is Starbucks. They went wild for a while there opening new locations all over the place and to be honest with you the taste of their coffee is not deserving of the high prices they have. I will have a Dunkin Donuts coffee over Starbucks any day.

Chris E. Jan 23, 2009, 1:50pm EST

I said usually Linda not always. The majority of the stores owned by Charming shops are larger size stores. Yes Fashion bug does sell junior sizes but they mainly sell misses and plus sizes.

Chris E. Jan 23, 2009, 1:51pm EST

Stephanie I agree with you. I am not surprised by Starbucks either. As a matter of fact they did major closings last year and some the year before that too.

Nellie (The Bad Santa of Gather) Jan 23, 2009, 1:57pm EST

It isn't all the stores, but in poor incoming locations. I know in the town where we are moving back to they just opened a Starbucks for the first time ever and are booming. Sme with the one that just moved here this past year. It all depends on location. I asked about Gap and the lone stores aren't doing good, but in malls they are doing quite well...again, it is all location...location...location. (who the heck always repeats things, isn't that Trump?)

Marsha S. Jan 23, 2009, 3:13pm EST

I suppose I am part of the problem on closing stores since I don't have money to shop at them.

.* Sandi * Jan 23, 2009, 3:53pm EST

thats really sad

Cecilia Lyne Jan 23, 2009, 3:54pm EST

wow really sad

Brian T. Jan 23, 2009, 4:14pm EST

Too sad just more sign of the times.

Katrena M. Jan 23, 2009, 4:23pm EST

Circuit City will open under a new name Just like Sun TV, H H Gregg etc.... They do this to get out of debt and we pay the penalty. I hate that people are losing their jobs but the government is shipping all of our jobs overseas and what ones are left here are going to the Illegals COME ON SOMEBODY IN WASHINGTON CLOSE THE BORDERRRRR AND BRING OUR JOBS BACK!!!!! Americans want to work but they want it at a decent wage so we can feed and support our Families

Nancy R. will view, may comment! Jan 23, 2009, 7:04pm EST

Therese not even that many plus size stores as it is. At least not in my town. They are kind of expensive anyways!

Jean A. Jan 23, 2009, 7:48pm EST

Yes it is sad that so many stores are closing, a few of my favorites also,
wonder how long it will take for the economy to pick up again?

Debra C. Jan 23, 2009, 8:38pm EST

A good number of these stores are closing some that were just overbuilt for the area.

Janell R. Jan 23, 2009, 9:44pm EST

This is sad.

Karen M. Jan 23, 2009, 10:46pm EST

It is getting really sad..

**AngelEyez** a. Jan 24, 2009, 12:23am EST

this is getting depressing

Timothy V. Jan 24, 2009, 12:32am EST

Amazing how some people on this thread are trying to downplay these tore closings. A record number of people filed for first time unemployment benifits last week..and this has been going on for months now. The retail sector is where a lot of the jobs are being lost and this is a direct result of a tanking economy. These facts can't be refuted.

Karen L. Jan 24, 2009, 1:13am EST

I remember loving to shop at Fashion Bug, but then they started elevating their prices so much that you could only afford to buy something when it was at least 50% off, so I am not surprised, people just don't have the money and when they do they will buy the lower end merchandise. The clothing in their really isn't anything worth more money!

Lin B. Jan 24, 2009, 5:48am EST

so sad...so many are also just cutting back too.....its going to be a long couple of years

golds g. Jan 24, 2009, 8:49pm EST

not stores I really shot at except for old navy which is partners with gap .... starbuks not a surprise they rip you off with their coffee

Elizabeth B. Jan 24, 2009, 11:40pm EST

I only use/have shopped at sprint! that is so sad, all those people who will not have a job when they close.. STINKS!

Cindy A. Jan 25, 2009, 11:42am EST

we are going to see more going down before we go up..but WE WILL GO UP!! pif

Megan R. Jan 25, 2009, 2:46pm EST

some awfully good stores on that list. What a shame.
pif

*LORA* M. Jan 25, 2009, 5:05pm EST

so sad. I shop at some of those

B.B. B. Jan 25, 2009, 5:16pm EST

thats not good, we had mervyns going out of business end of last year, and i loved that store, everything was pretty good quality but not overpriced. so i dont know where to shop now, and they had tons of cute baby clothes... darn
here to pif

Jurpe {awallflower} Jan 25, 2009, 6:53pm EST

Wow

donna h. Jan 25, 2009, 7:40pm EST

too many

Cynthia T. Jan 25, 2009, 8:17pm EST

thats sad

Glome . . . Jan 28, 2009, 1:19am EST

If you're going to buy stock, go Wal Mart!

Leah Christensen Jan 29, 2009, 12:13pm EST

Second Cup coffee is a million times better than Starbucks, anyway.

Sandy C. Jan 29, 2009, 3:05pm EST

Thanks for sharing.

Gene P. Feb 1, 2009, 1:32am EST

Thank you for posting your content to the group Whatever!

Heidi Cole Feb 3, 2009, 1:55pm EST

This is just survival of the fittest. And, just because these stores are closing locations, doesn't mean they are going out of business. BIG DIFFERENCE! So people need to quit freaking out and just wait it out.

Recession is actually good for business in general. It forces business owners to cut the fat and actually be good business people. Yes, people get laid off, and it hurts for a time, but people are resilient and find a way to make it. Hard work and education go along way to recession proofing your life!

Heidi Cole Feb 3, 2009, 1:55pm EST

Paying it forward a few days late!

Jennifer O. Feb 5, 2009, 5:28pm EST

Thanks for posting!

Nippy Katz (not his real name) Patriotic Troll of Gather Freedom Feb 5, 2009, 6:50pm EST

This is a copy and paste from a Yahoo Finance piece that appeared on Jan 21. You can see the original here. It has pictures too.

I see rating is turned off. I would have rated it 1 for copy and paste. Regardless, this piece is in violation of Gather TOS. See below for Gather's position on the theft of copyrighted work:

You're responsible for any content you share on Gather, so you should only share content you created or for which you can provide written permission from the copyright owner. Remember: you automatically own the copyright for content you create. If you share content you didn't create or for which you don't have permission, you may be violating copyright laws and Gather's Terms of Service.

Teresa T. Feb 5, 2009, 8:12pm EST

Nippy...you rate everyone a one. That is also your signature. Everyone posts news here. Thanks for the view and points Nippy.

Mary G. Feb 7, 2009, 7:02pm EST

I knew more stores would be closing unprofitable locations and clearly should to stay in business. Businesses have to do this now and many should have done it already. I think Bakers Square would still be in business, if they had done it.

granma gran Feb 8, 2009, 10:18am EST

There have been so many and I'm afraid there will be many more this year.

Kim M. Feb 8, 2009, 10:41am EST

Seems like it's higher end stores. I like Lane Bryant, but they're way too expensive. Even their "outlet" is way too expensive. You can get their clothes much much cheaper at other stores who buy their closeouts.

*Carol ~Bronx Southern Belle D. Feb 8, 2009, 6:56pm EST

I think there are just too many people and stores alike who out paced themselves with credit. It's so sad that so many people will be hurt. I like the Gap, but I could live without any stores. I think we should go back to bartering. Sounds like a plan.

Join La La Land

Leslie ~ from NYC ~ R. Feb 10, 2009, 12:49pm EST

for a long time every small store that closed opened as a cell phone vendor - I am not surprised many are closing.
Now they're often opening as banks - I still can't figure that out!