Counter Culture

It seems like Hayward, CA-based department-store chain Mervyns is the next in line for closures or bankruptcy.

We are seeing reports that the retailer, with most of its 177 stores on the West Coast, is no longer getting orders approved from suppliers.
Continue reading ‘Mervyns Is Next?’

The crew over at Serious Eats, drew our attention to a Google Map of the recently-reported Starbucks closures posted on CNNMoney.com.

Isn’t the Internet great? Click the image below to see the 600 places where it’s shutting stores, down to the street corner. Any near you?

The news just keeps getting brighter!

Now Regis Corp., the parent of Supercuts and other salon chains, says it plans to close about 160 stores, most of them in malls. Granted, the company operates 8,500 units around the world, but this still can’t bode well for the industry.
Continue reading ‘Now Supercuts’ Parent Is Closing Stores’

There were a flurry of reports last week that Steve & Barry’s is close to filing for bankruptcy and/or closing 100 of its 275 stores.

Few retailers have garnered more publicity over the last couple of years than the chain, which sells mostly sports apparel at prices less than $10. Steve & Barry’s is also known for taking up major vacant spaces in malls across the country and signing deals with celebrities like New York Knicks point guard Stephon Marbury and actress Sarah Jessica Parker.
Continue reading ‘Steve & Barry’s: What’s Gone Wrong?’

Today we report on Home Depot’s decision to abandon the opening of 50 new stores and close 15 stores. That might not seem like much considering that the chain has more than 2,200 stores, but we would image that few people would have predicted this a couple years ago.

It seems like every chain is pulling back from their ambitious expansion plans, from Starbucks to Kohl’s. We’re in an environment where store closures and bankruptcies are expected.
Continue reading ‘Is This Just the Beginning For Home Depot?’

Myron Ullman, J.C. Penney’s CEO and chairman, sees a tough retail environment that could lead to more bankruptcies, according to this Dallas Morning News article. There could be 10 to 20 chains that could fall victim, especially regional outfits, he said speaking recently at a Lehman Brothers conference.

Ullman says the stimulus checks that many taxpayers have started receiving might help retailers but concedes that high gas prices might have already sucked up those funds. He also says he is “cautiously optimistic” about the holiday season for his company.
Continue reading ‘Penney Chief Forecasts More Bankruptcies’

Whoa. The retail industry has had a lot of shakeups last week.

News of store closures continued. We heard of closing Charming Shoppes stores, Fred’s shutting 75 units and Movie Gallery exiting another 400 locations on top of the 520 it was already planning on leaving. None of these come as big surprises, but that doesn’t mean they were welcome.
Continue reading ‘It Wasn’t Retail’s Best Week’

Today we have the announcement of yet another round of store closures. This time it is 150 stores by Charming Shoppes, the owner of the Fashion Bug, Lane Bryant and Catherines Plus Size chains.

Charming Shoppes has had rough sales results lately, with all of its chains posting year over year comparable-sales drop of 7% during the nine weeks ended Jan. 5. Of the closures, 100 of them will be Fashion Bugs, and Charming Shoppes is also shutting down all four retail stores under its Petite Sophisticate banner, though that chain’s 54 outlet units will stay open.
Continue reading ‘Is Apparel in Trouble?’

Ann Taylor’s announcement yesterday that the company is closing 117 stores doesn’t surprise us. The retailer’s same-store sales declined 9.4% in December year over year, after a third-quarter drop of 0.4%. Plus, peers like Talbots are also cutting back.

The retailer is closing 39 Ann Taylor stores through this year and 2010, as well as 78 of its Loft units. The company operates just over 350 Ann Taylors and 500 Lofts.
Continue reading ‘Ann Taylor is the Latest to Close Stores’

Welcome to Counter Culture, GlobeSt.com’s new blog on the retail industry.

The addition of this page to GlobeSt.com is actually the first in a series of new special-section pages that will roll into the lineup over the next few weeks and months. The impetus is internal as well as external. As we at Real Estate Media look to integrate our online, print and conference products the retail industry is undergoing some major shifts that demand a new coverage approach, not the least of which is the increasingly blurred lines between retail and other product types.
Continue reading ‘Introducing Counter Culture!’