Fox 10 Phoenix – With announcement from major retailers such as Macys, J.C. Penney and Sears announcing store closures nationwide, shopping malls could be in for some tough times ahead. One retail analyst said many shopping malls have “anchor spaces” for major department stores, and when an anchor store closes, it can be hard to […]
Archives for February 2017
Store closings are part of the business, but is this business as usual?
2017 is just two months old, but we have already experienced what feels like a year’s worth of major store closing and liquidation announcements from national brands. This spike in store closings seems to have rattled retail industry professionals, and has gotten retail analysts and observers talking about big shifts – and thinking not only […]
J.C. Penney closings reflect retail shake-up
Joan Verdon/The Record – The news that J.C. Penney is planning to close up to 140 of its stores this year doesn’t mean department stores are dead – yet. But it is a sign of their diminished importance in the malls of North Jersey, and America. Penney’s announcement Friday follows several rounds of store closings in […]
J.C. Penney closing up to 140 stores, two distribution centers
Jon Harris/The Morning Call – J.C. Penney Co. Inc. is slimming down its brick-and-mortar footprint as the department store chain continues its turnaround while navigating a tough climate in which traditional retailers are trying to grow online sales. The Plano, Texas, retailer announced Friday it expects to close 130 to 140 stores and two distribution centers […]
A rocky road ahead for Macy’s stores in Tampa Bay
Justine Griffin/The Tampa Bay Times – The going out of business banners are visible from Fowler Avenue as drivers pass by the ailing University Mall. Soon, the mall’s anchoring Macy’s department store will close. When Macy’s announced it would close 68 stores nationwide this year amid slumping sales, the three stores from the Tampa Bay area […]
Macy’s for sale? Saks owner Hudson’s Bay is in the hunt
Suzette Parmley/The Philadelphia Inquirer – Reports surfaced late last week that the venerable – though struggling – Macy’s brand has been talking with a suitor – Hudson’s Bay Co. of Canada, which owns the Saks Fifth Avenue and Lord & Taylor chains. Speculation continued this week that the two are “talking,” according to several sources, including […]
