Retailers closing UF

Time has an article by Kerry Close about stores, closing:

Call it the Amazon Effect. It’s the age of Amazon, and brick-and-mortar retailers are feeling the pinch.
Amazon’s dominance, bolstered by mostly lower prices, more options, and increased convenience for shoppers, has caused stores across the mall to take a hit. Teen-apparel retailer Aéropostale filed for bankruptcy in May of 2016. Later that month, JC Penney announced that it would cut payroll and freeze overtime for its employees. The bad news isn’t only recent: In 2015, Penney announced it would close forty locations, while fellow mall giant Sears has shuttered more than two hundred locations over the past two years.
Meanwhile, in its most recent earnings report, Amazon posted profits for the fourth consecutive quarter. The price of shares of Amazon stock has spiked by about thirty percent since February of 2016. On the heels of April’s stellar earnings, the fortune of its CEO and founder, Jeff Bezos, has soared by six billion dollars in just a few hours. The company’s first-ever Amazon Prime Day proved to be a bigger sales event than Black Friday last summer, and Amazon is planning a repeat, with tens of thousands of sales slated for 12 July 2016.
Still, some physical store closings are not a sign of troubled times, but rather the sacrifices necessary to achieve greater profitability. That’s the case with drug store chain Walgreens, which prepared to sell off more than a thousand stores in order to seal a lucrative merger with competitor Rite Aid.

These are some of the most prominent brick-and-mortar stores suffering from a retail slump:
 
Macy’s
This mall anchor, known to many by the titular Thanksgiving Day parade that passes through Herald Square in New York City, has been consistently shutting down stores over the past year. Most recently, in January of 2016, Macy’s announced that it would shutter three dozen stores and eliminate over four thousand jobs in an effort to boost profitability. Those closures came on the heels of the chain’s decision in September of 2015 to shut down forty locations. Over the past six years, Macy’s has closed more than ninety stores, though it currently has more than seven hundred.
Rico says his local Macy's has closed, alas; it was very convenient.

JC Penney
In an effort to reduce expenses, JC Penney has been steadily closing underperforming stores at the beginning of each year: thirty in 2014, forty in 2015, and seven in early 2016. In May, the Plano, Texas-based retailer, which has currently more than a thousand locations nationwide, also announced cost-cutting measures like cutting payroll and eliminating overtime hours for employees. Shares of JC Penney have fallen by more than 25% since March of 2016.

Sears
In April, Sears Holdings, which owns both Sears and Kmart, announced that it would close seventy Kmarts and ten Sears locations that were not turning a profit. All the stores are expected to be closed by the end of July. Sears, which is suffering from its largest dip in operating performance since 2006, would have to close three hundred existing stores, or more than forty percent of its locations, in order to achieve the productivity it enjoyed a decade ago, CBS News reported.
Rico says his local Sears has closed, too; it was also very convenient, especially for tools.

JC Penney


Justin Sullivan—Getty Images
In an effort to reduce expenses, Penney has been steadily closing underperforming stores at the beginning of each year: 33 in 2014, 40 in 2015, and seven in early 2016. In May, the Plano, Texas-based retailer, which has currently more than 1,000 locations nationwide, also announced cost-cutting measures like cutting payroll and eliminating overtime hours for employees. Shares of JC Penney have fallen by more than 25% since March.

Macy’s
This mall anchor, known to many by the titular Thanksgiving Day parade that passes through Herald Square in New York City, has been consistently shutting down stores over the past year. Most recently, in January of 2016, Macy’s announced that it would shutter three dozen stores and eliminate nearly five thousand jobs in an effort to boost profitability. Those closures came on the heels of the chain’s decision in September of 2015 to shut down forty locations. Over the past six years, Macy’s has closed more than ninety stores, though it currently has more than seven hundred.
Rico says they closed the one nearest to him; a nuisance.

Sears
In April of 2016, Sears Holdings—which owns both Sears and Kmart–announced that it would close 68 Kmarts and 10 Sears locations that were not turning a profit. All the stores are expected to be closed by the end of July. Sears, which is suffering from its largest dip in operating performance since 2006, would have to close 300 existing stores, or more than 40% of its locations, in order to achieve the productivity it enjoyed a decade ago, CBS News reported.

American Eagle
American Eagle Outfitters, which rose to prominence as the outfitter of suburban teenagers, announced in 2014 that it would close 150 of its approximately 1,000 stores over the subsequent three years. Perhaps the efforts are paying off: Share prices of the clothier have remained relatively steady since the beginning of the year, while the stock of other apparel sellers has floundered. American Eagle also said this year that it would roll out a mobile-friendly version of its website, following in the footsteps of retailers like Walmart that are trying to make the online shopping experience more consumer-friendly.

JC Penney
In an effort to reduce expenses, JC Penney has been steadily closing underperforming stores at the beginning of each year: 33 in 2014, 40 in 2015, and seven in early 2016. In May, the Plano, Texas-based retailer, which has currently more than a thousand locations nationwide, also announced cost-cutting measures like cutting payroll and eliminating overtime hours for employees. Shares of JC Penney have fallen by more than a quarter since March of 2016.

Sears
In April, Sears Holdings, which owns both Sears and Kmart, announced that it would close 68 Kmarts and 10 Sears locations that were not turning a profit. All the stores are expected to be closed by the end of July. Sears, which is suffering from its largest dip in operating performance since 2006, would have to close 300 existing stores, or more than 40% of its locations, in order to achieve the productivity it enjoyed a decade ago, CBS News reported.
Rico says they closed the one nearest to him; a nuisance, as they had a good selection of tools.
 
American Eagle
American Eagle Outfitters, which rose to prominence as the outfitter of suburban teenagers, announced in 2014 that it would close 150 of its approximately 1,000 stores over the subsequent three years. Perhaps the efforts are paying off: Share prices of the clothier have remained relatively steady since the beginning of the year, while the stock of other apparel sellers has floundered. American Eagle also said this year that it would roll out a mobile-friendly version of its website, following in the footsteps of retailers like Walmart that are trying to make the online shopping experience more consumer-friendly.
 
Aéropostale
Like teen-clothing competitor American Eagle, Aéropostale is falling on hard times. In May, it filed for Chapter 11 bankruptcy after losing money for 13 consecutive quarters. At the same time, it also announced the closing of 154 of its approximately 800 locations, some of which were set to shut down that same week, and said it may consider shutting down even more stores in the months to come. Like American Eagle, the two face stiff competition from “fast fashion” chains like H&M, which have pulled ahead by putting new styles into production at a fast pace.

JC Penney
In an effort to reduce expenses, Penney has been steadily closing underperforming stores at the beginning of each year: 33 in 2014, 40 in 2015, and seven in early 2016. In May, the Plano, Texas-based retailer, which has currently more than 1,000 locations nationwide, also announced cost-cutting measures like cutting payroll and eliminating overtime hours for employees. Shares of JC Penney have fallen by more than 25% since March.

Read Next: Amazon Prime Day 2016 Is Confirmed for July 12. Here’s What to Expect

 
Macy’s


Bloomberg—Getty Images
This mall anchor—known to many by the titular Thanksgiving Day parade that passes through Herald Square in New York—has been consistently shutting down stores over the past year. Most recently, in January, Macy’s announced that it would shutter 36 stores and eliminate 4,500 jobs in an effort to boost profitability. Those closures came on the heels of the chain’s September 2015 decision to shut down 40 locations. Over the past six years, Macy’s has closed more than 90 stores (it currently has more than 700).

Sears
In April, Sears Holdings, which owns both Sears and Kmart, announced that it would close seventy Kmarts and ten Sears locations that were not turning a profit. All the stores are expected to be closed by the end of July. Sears, which is suffering from its largest dip in operating performance since 2006, would have to close three hundred existing stores, or more than forty percent of its locations, in order to achieve the productivity it enjoyed a decade ago, CBS News reported.

American Eagle
American Eagle Outfitters, which rose to prominence as the outfitter of suburban teenagers, announced in 2014 that it would close a hundred and fifty of its approximately thousand stores over the subsequent three years. Perhaps the efforts are paying off: share prices of the clothier have remained relatively steady since the beginning of the year, while the stock of other apparel sellers has floundered. American Eagle also said this year that it would roll out a mobile-friendly version of its website, following in the footsteps of retailers like Walmart, that are trying to make the online shopping experience more consumer-friendly.

Aéropostale
Like teen-clothing competitor American Eagle, Aéropostale is falling on hard times. In May of 2016, it filed for Chapter 11 bankruptcy after losing money for thirteen consecutive quarters. At the same time, it also announced the closing of over a hundred of its approximately eight hundred locations, some of which were set to shut down that same week, and said it may consider shutting down even more stores in the months to come. Like American Eagle, the two face stiff competition from “fast fashion” chains like H&M, which have pulled ahead by putting new styles into production at a fast pace.

Sports Authority
The nation’s largest sports retailer may have been among the hardest hit by the recent retail slump. After filing for bankruptcy in March of 2016, Sports Authority said it would close a thired of its 450 locations. But, after failing to find a buyer for its remaining stores, it decided to shut them all down. Before you hit Sports Authority’s extensive sale, which began in May and promises more than seventy percent off merchandise, bear in mind that the best deals aren’t likely to appear until closer to the stores’ close date of 31 August, after bargain hunters have already scoured through the prime offerings.

JC Penney


Justin Sullivan—Getty Images
In an effort to reduce expenses, Penney has been steadily closing underperforming stores at the beginning of each year: 33 in 2014, 40 in 2015, and seven in early 2016. In May, the Plano, Texas-based retailer, which has currently more than 1,000 locations nationwide, also announced cost-cutting measures like cutting payroll and eliminating overtime hours for employees. Shares of JC Penney have fallen by more than 25% since March.

Read Next: Amazon Prime Day 2016 Is Confirmed for July 12. Here’s What to Expect

 
Macy’s


Bloomberg—Getty Images
This mall anchor—known to many by the titular Thanksgiving Day parade that passes through Herald Square in New York—has been consistently shutting down stores over the past year. Most recently, in January, Macy’s announced that it would shutter 36 stores and eliminate 4,500 jobs in an effort to boost profitability. Those closures came on the heels of the chain’s September 2015 decision to shut down 40 locations. Over the past six years, Macy’s has closed more than 90 stores (it currently has more than 700).

Sears
In April, Sears Holdings, which owns both Sears and Kmart, announced that it would close seventy Kmarts and ten Sears locations that were not turning a profit. All the stores are expected to be closed by the end of July. Sears, which is suffering from its largest dip in operating performance since 2006, would have to close 300 existing stores, or more than 40% of its locations, in order to achieve the productivity it enjoyed a decade ago, CBS News reported.
 
American Eagle
American Eagle Outfitters, which rose to prominence as the outfitter of suburban teenagers, announced in 2014 that it would close a hundred and fifty of its approximately a thousand stores over the subsequent three years. Perhaps the efforts are paying off: share prices of the clothier have remained relatively steady since the beginning of the year, while the stock of other apparel sellers has floundered. American Eagle also said this year that it would roll out a mobile-friendly version of its website, following in the footsteps of retailers like Walmart, that are trying to make the online shopping experience more consumer-friendly.

Aéropostale
Like teen-clothing competitor American Eagle, Aéropostale is falling on hard times. In May of 2016 it filed for Chapter 11 bankruptcy after losing money for thirteen consecutive quarters. At the same time, it also announced the closing of a hundred and fifty of its approximately eight hundred locations, some of which were set to shut down that same week, and said it may consider shutting down even more stores in the months to come. Like American Eagle, the two face stiff competition from “fast fashion” chains like H&M, which have pulled ahead by putting new styles into production at a fast pace.

Sports Authority
The nation’s largest sports retailer may have been among the hardest hit by the recent retail slump. After filing for bankruptcy in March of 2016, Sports Authority said it would close a third of its 450 locations. But, after failing to find a buyer for its remaining stores, it decided to shut them all down. Before you hit Sports Authority’s extensive sale, which began in May and promises more than 70% off merchandise, bear in mind that the best deals aren’t likely to appear until closer to the stores’ close date of August 31, after bargain hunters have already scoured through the prime offerings.
 
Office Depot
In order to fund the buyout of rival Office Max in 2014, Office Depot promised to close at least 400 stores by the end of 2016, The Street reported. In 2014, it shuttered 168 locations, followed by 181 in 2015. It also plans to close down about 50 U.S. locations this year, bringing it just one store shy of its stated goal. Office Depot may be forced to shut down even more stores if Staples’ impending buyout of the office supply chain does not receive regulatory approval.