Major Retail Stores Closing

pennypinch · #1 08-22-2010, 03:36 AM

Several major retailers are closing some of their stores because they just aren't making enough money to keep them open. That really stinks because it seems like all of the best places to shop are disappearing on me!

Saks and Abercrombie & Fitch are both closing shutting down stores in several parts of the country and Blockbuster is closing dozens of stores.

They say American Apparel will most likely be next because they are very close to defaulting on their loans already.

Of course the economy is to blame. Consumers are worried about their personal finances and so they are not shopping as much. I know that has been the case for me.

I guess WalMart is even feeling the bad economy. They usually continue to do quite well even during the slower economic times but I guess right now they are not.

beaston · #2 08-22-2010, 09:06 AM

Quote:

Of course the economy is to blame. Consumers are worried about their personal finances and so they are not shopping as much. I know that has been the case for me.

Sure, the economy is in the dumps, but they brought it upon themselves for not bringing in cheaper clothing lines. With the economy the way it is now, who wants to go pay $30 for a t-shirt when they can almost the same thing at almost the same, if not the same, quality for 1/3rd the price by going to a discount store?

This is partly the reason why JC Pennys is almost out of business, as well.

I, for one, refuse to buy into the "buy our stuff with our logo or slogan on it so we get free advertising and become the next fad" bull****. If they want advertising, then they should be paying the consumer to wear their stuff if it's got their advertising stuff on it!!!

beaston · #3 08-22-2010, 09:12 AM

For instance:

$30! What in the world are you getting? A plain gray t-shirt with their logo plastered all over it. Nothing more, nothing less. Big deal. People that are buying this stuff are just trying to 'keep up with the Jones'.

http://www.abercrombie.com/webapp/wc...-1_12215_12202

dimetime · #4 08-22-2010, 06:21 PM

I agree I refuse to pay $20 or more for a T-shirt. That is just crazy that people are willing to pay out so much money for a dang name!!

Sorry hand me a $5.00 plain old T-shirt any day!! Same goes for shoes, jeans, jewerly and pretty much anything else.

I know that there are many stores in my area that I have watched go under and close. I know that the mall in my area and surrounding areas as well there are many stores that have closed and the malls are becoming more and more bare.

K-mart is also another store that many have closed and those that are still open are suffering big time. I expect them to also either close more stores or completely shut all of their doors soon.

What gets me is that these stores that charge $20 or more for a stupid T-shirt, are able to stay in business because idiots in this world are willing to pay these prices for this crap.

beaston · #5 08-22-2010, 07:05 PM

I think most of the problem lies with the kids. Some rich kid that was born with a silver spoon in their mouth sees all this "cool" stuff and just has to have it. Then other kids see it on the "cool" kid, and have to have it, too. Well, actually the issue lies with the parents that will go out and buy the stuff just because the kid "has to have it" in order to 'fit in.'

I'm fairly certain that those retailers of "high end" clothing only market towards the < 18 crowd as well as college students.

Peer pressure sucks...

moneysense · #6 08-23-2010, 04:44 AM

It is a shame to hear of so many of the better stores closing.

But one thing is for sure. I wouldnt pay that much for a t-shirt, not unless it cost that much to get one custom made with something on it that I really like.

I hope K Mart doesnt close all of their stores, I like shopping there better than I do at WalMart. But I do know that when I go to KMart, their parking lot isnt very full.

One thing though, I dont think KMart is as high on some stuff as WalMart is and their merchandise is just as good, and sometimes better.

beaston · #7 08-23-2010, 06:50 PM

If K-Mart closes, wouldn't Sears close, too? Remember, they pretty much merged some years ago, that's why you can now buy Craftsman tools and stuff at K-Mart now....