Comments | the_recession: 10 Big Retailers Closing Stores

nebris in the_recession

10 Big Retailers Closing Stores

Aug 22, 2010 16:28

By MERCEDES CARDONA
Posted 3:00 PM 08/20/10
Company News, Blockbuster, Saks, Retail, American Eagle Outfitters

Your next shopping trip may not be as convenient as it used to be. The second quarter earnings season brought news from ( Read more... )

commercial real estate, unemployment, the |_____ club, durable goods orders, unemployment rate, 'capitalism', austerity measures, unemployment insurance, global financial trainwreck of 2007-?, 50 state slump, deleveraging, corporate profits, retail sales, 52 week lows, retail

Comments 7

happydog August 22 2010, 23:45:44 UTC

OK, so...on the upside, I'll be able to raid Blockbuster stores for cheap DVDs!

nebris August 22 2010, 23:48:18 UTC

Yup..but ya better get crackin'. =P

~M~

sunfell August 23 2010, 00:22:46 UTC

When even Wal-Mart is sluggish, there's a problem. I only go there- and anywhere else- when I actually need something. My disposable income is non-existant, since my pay was frozen (along with everyone elses') and my other expenses (medical insurance, etc.) have climbed.

Who wants to shop in that sort of climate? Not me- and not a lot of other people, either.

(The comment has been removed)

sunfell August 23 2010, 01:36:49 UTC

Yep.

nebris August 23 2010, 02:35:32 UTC

I said on FB; "I suspect that many of these properties have un-payable* mortgage payments coming up. This is likely the first of the predicted burstings of the Commercial Real Estate Bubble."

*'unserviceable' would probably be the correct term.

~M~

rhonan August 23 2010, 03:39:25 UTC

While some of this is from the current sluggishness, these closings are not the same. I suspect with a number of them, what's prompting the contraction is over-expansion during the boom. The Men's Wearhouse sounds like the normal elimination of redundancies that you get with most mergers. Blockbuster looks more like the constant march of technology, more then anything else. Why should I go to blockbuster, when Netflix delivers to me? Their turn around time is so fast, if I went to the 3 movie at a time option, I could probably watch a new movie every night.

brittdreams August 23 2010, 04:09:38 UTC

And that's not even taking Redbox into consideration, where you can get a DVD for a night for $1.