100's Of Retail Stores Closing. 1000's Of Layoffs Coming
Posted in the Top Stories Forum
#1 Feb 13, 2014
Hundreds of retail stores are closing.
Several U.S. retailers have announced that in 2014 they will be closing stores all across the country, showing that retailers expect continued contraction in the economy instead of growth for the foreseeable future.
CNBC recently reported that such retailers as Sears, JC Penney, and Macy’s are all announcing a wave of store closings. Other retailers, like Sam’s and Target, are laying off thousands.
Another report tallied some of these shutterings.“JCPenney, Macy’s, and Sears have all recently announced fresh rounds of closures and layoffs. JCPenney is closing 33 stores, Macy’s is closing five, and Sears is closing its flagship in Chicago–the latest of about 300 closures Sears has made since 2010,” Business Insider wrote at the end of January.
Experts also predict that this is just the beginning and expect many other retailers to announce job cuts, store closings, cuts in the square footage of current stores, or all three.
#3 Feb 15, 2014
There will be a lot more buying on line. Saw a 60 Minutes piece recently where Amazon has plans to deliver with drones within 30 minutes of ordering. Who needs retail? It's starting.
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February 13, 2014 12:26 PM
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