465 store closures in 48 hours
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Gap, JCPenney, Victoria's Secret, Foot Locker: 465 store closures in 48 hours
But we have Amazon..............
Yup, saw this...Pretty crazy!
The world is changing so fast.
I would expect Target to go the way of KMart one of these days. They don't have much "guy" stuff there. That eliminates alot of shoppers. I rarely go to Target....it's a boring store.
I can't stand Target, but I've been in there a few times with the wife. You are correct about them not being a traditional "guys" store. However, there are not a lot of traditional guys these days it seems. I always make a wise-crack or two about going to the ladies room when there with the wife, and she really enjoys that. The Targets around here still seem pretty busy, per my very limited experience.
These stores have been on a death watch for some time.
"Capitalism at it’s best"
How true. Either build a better mousetrap, or fall to those who do.
Technically I'm amazed VS has lasted this long. It was such a novelty, but when I've been in there with my wife, we never buy anything because they are ridiculously overpriced.
Any why would anybody go to a Footlocker store, when there are a dozen discount shoe places in the same mall? Selling essentially the exact same thing.
On the other hand, JCP closes some of it's stores every year and others keep growing. This has been part of their restructuring plan for many years. Our local store is in a town of 13,000 people and is the closest JCP for 75 miles in any direction and more than that to the east. People will drive the curvy roads for 50 miles, (almost 100 from the east), just to shop there. This store does not carry the furniture and appliances that some stores are getting rid of, just clothes and jewelry. You can order online and have it shipped to the store, or you can call ahead and have them gather it up and have it waiting for you (not sure why you would want to do that last with clothes, but I'm not a shopper).
JCP started there annual billion dollar jewelry sale nationwide recently. Our local store had a daily goal assigned to it of under a $1000 for the first day. By noon, they had sold over double that goal. By the end of the day they were well above what the company wanted.
Point is, that the gloom and doom ain't always what is really happening. There is often more under the surface than what is reported. Bad news always makes the headlines better than good news. ;)
As a side note, I'm told you would be surprised at how many people still gripe that JCP and others don't put out a paper catalog.
"Capitalism at it’s best"
Absolutely! That's the way it's supposed to work. It's called 'creative destruction' and leads to adding more jobs than are lost.
What would you prefer? Having politicians decide the winners and the losers?
Brick and mortar retail is on the chopping block and rightly so, if I am any indication of buying habits then they are starving. I do all my shopping online.
"Any why would anybody go to a Footlocker store"
I went to a Footlocker store once early in my racing career.
Never again!
I buy my running shoes from small, local stores which are owned and staffed by serious runners, not a bunch of clueless kids.
Footlocker caters to the young and urban crowd that buys expensive Nike sneakers. Retail has been building up for years thinking they could sway the internet wave to go into their stores. What they need to offer is what the internet doesn't give the shopper, superb knowledge and costumer service. Unfortunately most brick and mortar stores fail miserably where that is concerned and is the main reason I shop on line.
Mint,
Exactly. Footlocker is for the kids who want to look cool and for the adults who think having the latest, greatest shoe makes them look 'sporty,' fit and athletic.
These stores are typically mall-based. I think a lot of people quit going to malls because they are no longer secure. These malls have seemed to have become “turf” and gangs and young people have pretty much ruined the experience. The best indoor mall I have ever been to was in OKC. They had nothing to attract the teens in there by way of stores. They had a great book store. Clothing stores aimed at professional people, etc. A pretty decent outdoor store. Nice quiet coffee shop. No athletic shoe or sports stores.
"I would expect Target to go the way of KMart one of these days. They don't have much "guy" stuff there. That eliminates alot of shoppers. I rarely go to Target....it's a boring store."
Target at one time was the #1 outlet for Ruger Firearms. Political correctness catering to millennials will have Target closing doors as well.
Not having to pay state sales taxes has really given online sales an advantage over box stores.
Exactly Pat, they will do to the Nation what Wal-Mart did to rural communities......
They will also Dicktate whose products they sell and based on politics etc.......
If that happens, Amazon will get competition from both retailers and new on-line services because that's how capitalism works.
As their profit margins rise, other entrepreneurs will see the opportunity and jump in.
Some big firms such as Walmart already have their own on-line websites and shipping operations.
Jet.com is Walmart's.
Mint,
".....superb knowledge...….."
Exactly. That's precisely why my first trip to Footlocker was also my last trip.
There was a woman I knew who was a top ultra-distance runner. She opened her own running shoe store near my office and only hired other very committed runners.
When I went to her store for new shoes, she already knew a fair amount about my running style, my foot plant, et.al.
Yet even then, before she'd sell me a new pair, she'd have me put them on, then go run up and back on the sidewalk while she watched, simply to ensure I was getting the right shoe for the way I ran.
Try doing that at a Footlocker! LOLOLOL!
Surprised Shopko wasn't on that list.
Shopco in Marnette Wi. is closing as we speak. Sign says "this store only", Im sure more to follow.
Predictions say Amazon will choke out Walmart by the end of 2020! Walmart better build a fleet of delivery vans if they expect to keep up.
With Mr. Walton gone, it'll be interesting to see how they weather the storm they neglected to intensify themselves...that is, if they even bother to try.
Shopco?
Never heard of them.
Must be a regional operation.
Shopko is also in Nampa ID, and that store is closing as we speak.
I'll admit that other than groceries, I buy most of my stuff online because it's far more convenient than actually going to the stores.
More often than not, there is no charge for delivery, yet even if there is a charge, I consider my time to be more valuable than paying a small charge for delivery.
Related...
YC Implemented Minimum Wage Hike For Fast Food Workers, Now They’re Looking For Jobs.
Via Daily Wire:
In July 2015, New York’s Fast Food Wage Board, appointed by New York governor Andrew Cuomo, agreed with the labor movement and recommended a $15 an hour minimum wage for fast food workers working for companies with at least 30 stores nationwide.
That plan looks like it was a disaster, because following the implementation of that recommendation, New York City showed the greatest plunge in restaurant jobs in almost 20 years.
The 2015 recommendation meant that wages among fast-food restaurant workers in New York City would rise to $15 an hour by December 2018. A survey published near the end of 2018 found “76.50% of full service restaurant respondents reduced employee hours, and 36.30% eliminated jobs in 2018 … 75% of limited service restaurant respondents report that they will reduce employee hours, and 53.10% will eliminate jobs in 2019 as a result of mandated wage increases that took effect on December 31, 2018. … When the tip wage increased 50% in 2015, and since doubled, annual employment growth dropped from 6.67% to less than 1% as of November 2018.”
Keep reading…
Have they learned anything yet? Nope.
No, they NEVER learn anything from the predictable yet horrible and destructive results of their policies.
ALL they care about is that can claim to CARE more than we do about the very people their policies harm.
Kyle,
I am all for capitalism. That was not meant to be a negative slant.
When Amazon first fired up, selling mostly books and then started downloading ebooks, that was their model..... they essentially put bookstores out of business. But hovered on the brink as they bled money for some time while setting themselves up to become what they are. It was a LONG time they were in the red.
I do a lot with Amazon. Mostly because what I want and need simply isn't available but for 2500 miles away. Shipping was a killer though. Now with Prime..... it's really pretty incredible here to get free shipping. Almost everywhere is "free shipping lower 48" but hammer us here. And many just don't ship ANYTHING to AK or HI no matter what.
I don't buy ANYTHING online! I have NO credit cards,and will not put personal information on the internet. It's getting near impossible around here to buy anything you need in a store! Besides all the retail closings,every restaurant we used to eat at has gone out of business!
If I can buy stuff on-line without leaving my home, I will.
When Amazon was basically a book store, I scoffed at them.
Boy, was I wrong!
The managers at American Funds recognized them as the future 'internet Walmart' and a whole lot more, which is exactly what they've become.
SB X2. I had my credit card stolen/hacked one time, and that was enough. No more online purchases for me. And when you use a spy/smartphone the theft possibility is even greater. I prefer the option of being able to shoot the person who's robbing me.
Having seen what it's turned into my money is on Cabelas (specifically the one in Rogers) being next! Awful store..
Stores? Are those the places you go to try stuff on/out before you buy it significantly cheaper online?
Shopko started in 1962 headquarters out of Green Bay Wi listed as having 18,000 employees. That number is most likely high as they have filed for bankruptcy and are shedding stores weekly. They most recently sold off a good portion of there pharmacy business to the Kroger grocery store brand.
It puzzles the hell out of me why so many people do the Amazon thing. IMO they are inconvenient and time consuming. Case in point......My wife just ordered a gardening book from Amazon. It came 2 days later and they SENT THE WRONG BOOK. This the second or third time this has happened to her over the years. She went to their website and reported it. The computer told her that someone would get back to her in TWO DAYS! Once they do get back to her it may take another TWO TO THREE DAYS to get what she actually ordered.
And people prefer this horsesh*t over just going to a store and buying it and having it the same day? WTF??? And this doesn't even account for the very real possibility that your CC may get hacked/stolen. No thanks!
I have had my Amex card compromised twice and my Visa Card once.
I don't attribute those events to online purchases.
In all three instances, the credit card company notified me IMMEDIATELY by both e-mail and a phone call that there was suspicious activity on my account. So I looked at the charges in question and they were clearly not mine.
At that point, AmEx immediately canceled my card and sent me a new one which arrived by 10:00 AM the next morning. USAA did somewhat the same thing.
All of these charges were then deleted from my account and it cost me not a penny.
I monitor both cards a couple of times per week and I have Credit Locks for all three credit reporting bureaus.
"Stores? Are those the places you go to try stuff on/out before you buy it significantly cheaper online?"
Yep, same place you go when you want your new hunting boots or jacket to fit right THE FIRST TIME, instead of paying return shipping and WAITING for the new pair to arrive.
I refuse to do that.
If a store goes to the expense of buying something and I check it out at the store, I'd be cheating the store by then going home, logging on and buying it online.
Target...Boring?
Not where I live
Va va efn’ VOOM!! ...if ya know what I mean ;^)
I love amazon. I'm going on a fly fishing trip this weekend...I ordered a magnetic box to hold my flies yesterday during a blizzard....I'm going to get home from work today and it's going to be in my mailbox. It cost $6 no shipping charges. I could care less if I could get the same thing for a little less at some store.
Pig Doc,
Agreed.
Home Depot takes online orders and sends the order out to you themselves. It usually arrives the following day.
I've used them several times, even though they have a store :10 from my home. It saves me the time and the drive. What's not to like?
Amazon is just too handy, especially when you live rural. We are near the closest walmart (22 miles from our house) nearly every day, as my wife works at a nearby hospital. But the closest book store (i.e. B&N), is 65 miles away, and takes 1 1/2 hours to get there with traffic. We are nearby maybe twice a month. Sometimes more, sometimes less.
Clothing stores. . . . again, once or twice a month we're nearby. Maybe. Sometimes we'll go 2 or 3 months without going to the nearest bigger city.
My wife will order stuff from Amazon and Target all the time. Household items that are necessary, clothes for our daughter, all sorts of stuff. It's pretty dang handy
target is a far better shopping experience than Walmart. Walmart is a zoo in so many ways. sometime a trip to the zoo is called for but it's still a zoo.
I heard that Tesla is going completely web based for their car sales, no more dealerships, carvana. I don’t get how anyone could buy a car online, I need to drive one to see how it handles, how it feels, road noise, seat comfort, ergonomics, etc. I’m like that with most things though, I’m a touch, feel, try before I buy guy.
FWIW, I am brick and mortar guy. Especially with cars and clothes. I live 20 miles away from work and can usually call to check if a particular store has what I need when I am in town. We’re small so it’s not like you are dodging traffic everywhere. I like the option of having it then and the option to return it if need be. Make no mistake, there are just something’s you have to get online because of price or availability.
An update on our situation.......
It's now DAY THREE and we finally heard from Amazon that the wrong book was sent, and now they are saying that as soon as the person who wrongly received my wife's book SENDS IT BACK TO THEM, then they will send it too my wife. WTF??? And people PREFER this bullsh*t over just simply going to a store and having the item they want the same day?
I love Amazon. I even own some of their stock.
A few days ago, I made a 3 hour round trip to the nearest fly fishing store to stock up on some tying materials and other tackle. Unfortunately, they were out of stock on several items I needed, so the trip was mostly a waste of time and fuel. Within minutes of getting home, I had ordered everything I needed on Amazon, and it all arrived 2 days later, for a much cheaper price than the fly shop would have charged. What's not to like about Amazon?
Matt
I sometimes like Amazon, but the last two orders I made were problems. The first order arrived two days late (it snowed, so I that was understandable) and the envelope was empty. It had obviously been cut open and the contents were somewhere else. The 2nd order was supposed to arrive by 6:00 PM, then 7:00 then 8:00 then 9:00 then 10:00 then maybe the next day...Still hadn't arrived by 3:00 PM a day late and I called them. I told them I don't want someone banging on my door at 10:00 PM to deliver something. If they can't deliver during normal business hours then I really don't want anything they have...Product arrived the next morning before 10:00 AM...I'll withhold judgement until order something else and see how that delivery works. The weather has had some impact so I am giving them the benefit of the doubt...
Other than Walmart, Target will be the last of the survivors of retail stores. The rest will all be gone in under 15 years. Target holds on strong enough because they, like Walmart, have groceries!!!! Middle class Women from the age of 24-38 are the one's keeping it alive right now.
FWIW, I am brick and mortar guy. Especially with cars and clothes. I live 20 miles away from work and can usually call to check if a particular store has what I need when I am in town. We’re small so it’s not like you are dodging traffic everywhere. I like the option of having it then and the option to return it if need be. Make no mistake, there are just something’s you have to get online because of price or availability.
Tomorrow will be one week since they screwed up my wife's order. We were given the OK to send the book back yesterday. WE have to front the shopping costs, which will then allegedly be credited to out account. Not holding my breath on that one either. No shipping label was sent. This is the last thing we ever use Amazon for.
Sorry about your bad experience WW. I love Amazon. Real TIME saver for me and the reviews alone are worth my patronage.
This not our only Amazon experience either. We've ordered 3 items from them and they screwed up 2 of them that's a 66% failure rate. Unacceptable.
Have not had a problem with them yet.
