465 store closures in 48 hours; Gap, JCPenney, Victoria's Secret & Foot Locker
 

They're calling it The retail apocalypse and Trump is still doing nothing about it two years in.

4,500 total planned store closures this year. Tens of thousands of jobs lost and out of work. Trump's tarrifs cut into these retailers small profit margin and now they're closing stores to compensate. Sad

465 store closures in 48 hours; Gap, JCPenney, Victoria's Secret & Foot Locker

FOX NEWS - The 'retail apocalypse' is alive and well this week with major chains such as Gap, JCPenney, Victoria's Secret and Foot Locker all announcing massive closures, totalling the death of more than 465 stores over the last 48 hours.

All four companies reported its fourth quarter results this week during the critical holiday period, with three of them (Gap, JCPenney and Victoria's Secret) reporting declining in same-store sales, while Foot Locker reported growth that more than doubled expectations.

Still, despite the good news. Foot Locker announced Friday that it plans to close around 165 stores across the country, during its investor call.

That comes less than 24 hours after Gap announced it would close 230 of its namesake stores over the course of the next two years after the brand's same-store sales fell 7 percent during the holiday quarter. It also announced that it will separate its sister company Old Navy into its own publicly-traded company and create a new firm to house its remaining brands.

To top that off, earlier that day on Thursday, JCPenney announced it too will shutter 18 of its department stores this year, including the three it already announced in January.

Additionally, it said it plans to close nine of its home and furnitiure stores to coincide with its previous announcement to discontinue selling major applicances and furniture at all of its stores by the end of February.

However, Bob Phibbs, CEO of New York-based consultancy the Retail Doctor thinks JCPenney will be forced to announce more closures down the road.

“It is mind boggling that JC Penney still thinks they have time when the clock has run out and there’s no real plan. Closing 18 stores is barely a drop in the bucket of JC Penney’s more than 850 stores. If this was a big, bold effort to reinvigorate the brand, they would have announced they were closing hundreds of stores and investing in an outstanding experience at their other locations," Phibbs told FOX Business.

He added that JCPenney "still desperately" needs an inspiring vision for its brand as more and more customers head to Target, Walmart and Amazon.

Lastly, late Wednesday, L Brands' Victoria's Secret also reported its same-store sales fell during the holidays, dropping 3 percent and it will have to close 53 stores this year.

According to a Business Insider report, these announcements will bring the number of planned stores closures this year to well over 4,500.

Other than Target, I cannot remember the last time I've been shopping at a "store". I haven't visited our mall in six or seven years.

The other day I decided I needed headphones for my PC.... I kind of knew what I wanted - Microsoft Surface Headphones - and searched on line... Best Buy has them for $350. Best Buy also has them "certified refurbished" at $279. I bought brand new in a box off of Ebay at $249.

Retail is dying. No one shops at JC Penny's or Sears, Victoria's Secret is a dinosaur in the age of the "me too movement", and Foot Locker is another dying breed...

Thank Bezos. Someone who hates Trump.

My amazon order history started in 1999...
around the same time i stopped shopping in department stores.
thanks trump.


only place i still frequent is home depot...
and that’s ending... between never having any actual registers open (coupled with usually broken and inaccurate self checkouts), and there always being 400 little fucking kids using the place as a race track/obstacle course while their gaggle of mothers wearing inapproriate amounts of perfume and makeup block the entire paint fucking section.
fuck that.

But wait the big Corp tax, we were told companies we're to be rushing to create jobs. Not lay in droves. People are such suckers.

Stores are a pain. Before I was disabled, I’d go online for most things. No driving, trying to find a space, coming out to see a dent, no help on sales floor, rude clerks, overcharged, wrong change, kids crying or running around, shlepping items around, traffic and parking tickets.

I’d sit at home, comfy, in old sweats or a sleep shirt, go online and shop. Returns are simple and easy.

Stores now have little merchandise, rude clerks who ignore me asking a question but answer to my CNA, few parking spaces and women who hike up their shoulder purse without realizing I’m sitting behind them and get smacked in the face.

The local JC Penney isn’t closing as it does well at the mall. I order online and ship there at no cost.

eBay is good if you’re careful. While not as cheap as before, you can still find good deals. I just bought an electric toothbrush that is u-shaped and brushes top and bottom, inner and outer, all at once. Retails for $69.99 and I paid $14.99 with free shipping. Took two days to decide which to buy but I love this. I use the manual toothbrush for a tooth that needs extra work

These closures are long overdue and actually good for the economy.. It gives the mom and pop shop a chance again.. They should turn all of these malls into vocational college campuses..

Bladewire doesn't underdtand capitalism.

Ovepriced stores closing? No shit?

Stores closing is always sad. Besides the people who (used to) work there losing their jobs just the appearance of empty stores makes a town feel dead. Terrible thing.

Indeed.

Ripped people off for years simply because they could.

Then people find the same shit online but cheaper.

Yet people still act surprised stores are closing :1orglaugh

I'm convinced you have a serious drug problem.

God damn motherfucking Donald Trump!

He's a Putin russian working at the alt-right hate machine known as The Troll Farm . In russia they call it Веб-бригады , The Web Brigades.

"State-sponsored anonymous Internet political commentators and trolls linked to the Russian government. Participants report that they are organized into teams and groups of commentators that participate in Russian and international political blogs and Internet forums using sockpuppets and large-scale orchestrated trolling and disinformation campaigns to promote pro-Putin and pro-Russian propaganda."

Any bad news for America is great news for him. It's that simple. He wants America to crumble. Trump is Putin's puppet so the troll farm is pro Trump, for now.

Sears and JC Pennys have been in serious financial trouble for 20 years now. But don't let facts ruin a ridiculous narrative.

There's only 1 Block buster store left

https://www.deseretnews.com/article/...r-reacted.html


eventually human beings will just be living in virtual reality worlds....