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Old 08-21-2010, 08:04 AM
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10 Big Retailers Closing Stores

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Your next shopping trip may not be as convenient as it used to be. The second quarter earnings season brought news from several major retailers that they will be shutting down stores. Both Saks (SKS) and Abercrombie & Fitch (ANF) said they were closing stores in several parts of the country. Meanwhile, other stores like the struggling Blockbuster video rental chain, continue to slash stores by the dozens. American Apparel (APP), which is close to defaulting on its loans, just may be next.

Consumers just aren't shopping the way they used to. Even Wal-Mart Stores (WMT), which typically fares well during tough economic times, is worried. "The slow economic recovery will continue to affect our customers, and we expect they will remain cautious about spending," said president and CEO Mike Duke in a statement that was released during the company's second quarter earnings report.

With the prospects for economic recovery iffy at best and consumer spending still moving at a snail's pace, it's little wonder that retailers are sussing out their weakest stores and closing them in order to protect profits. Retailers say they are positioning themselves to play where they can be strongest and avoid burning resources in places that won't produce the results they want. Here are some of the biggest store closings of late.
http://www.dailyfinance.com/story/co...ores/19597754/
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Old 08-21-2010, 10:08 AM
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2 words: online shopping



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Old 08-21-2010, 10:35 AM
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Online stores are also affected, but we cannot compare orange and apple

It seems like it is not enough to take the burden of this economic crisis, some people try to take advantage of this and play their evil game.
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Old 08-21-2010, 12:20 PM
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Trust me, new stores will popup in there place. probably geared towards the younger crowd since they seem to spend money with no end in site. It will be harder for people like me so shop(I`m 55) unless I`m looking for punk rock clothing or the latest skateboard.

I work in the car business and are sales are up about 122% over last year and we do not see any slow down. Go figure?
 
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