Taylor Williams/Midwest Real Estate News – Electronics and home appliances retailer hhgregg’s Inc.’s decision last week to close 88 stores — or roughly 40 percent of its total outlets — and three distribution facilities over the next two months came in the wake of a rough financial stretch for the company. Net sales decreased 23.7 […]
Archives for 2017
Scientology plans control of downtown Clearwater for retail makeover
Tracey McManus/The Tampa Bay Times – The Church of Scientology is maneuvering to control all downtown real estate to create a master retail district that will operate under its management and oversight. The plan, according to two city officials briefed by Scientology leader David Miscavige, requires all property from Osceola to Myrtle avenues between Drew […]
Retail analyst weighs in on the future of malls
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 […]
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 […]
