Black Friday Chopping Block: If The Shopping Is Weak, These 10 Companies Won't Survive

247wallst.com:

A year ago, not many people would have thought Circuit City would be in bankruptcy now. Linens 'n Things, Mervyn's, Whitehall Jewelers and Steve & Barry's have either shut down or are closing huge numbers of locations since they moved into Chapter 11.

The most astonishing fact about the retail industry now is that the environment has gotten much worse than it was when each of these businesses began to fail. Sales at stores across the country will be down this holiday season. Some analysts believe that the numbers will be as bad as for any fourth quarter in thirty-five years.

Here is a list of ten companies which may well not make it if their sales drop by double digits this holiday season compared to last:

Read the whole story: 247wallst.com

Comments

[Kassandra]

Get ready to have ONE store to shop at (probably Walmart); ONE bank to do business with; ONE power company; ONE phone company; ONE auto maker ( probably Chinese) ONE media outlet (Fox) everything and especially ONE WORLD GOVERNMENT­/CORPORATI­ON.
This is what has been planned for years and the takedown of America was essential to the plan. The financial powers couldn't have a functioning democratic power and do this, so we got on the big hit list and the right wing and their buddies have been working on us since Reagan at least.

The only thing standing in their way now is Obama. It makes me shiver.

[whit4brains]

I would be bummed to see Dillard's go out of business. Anytime I need a dress for a special occasion I head straight there and always find what I am looking for. They have a great shoe and accessory department as well. I've shopped there for over 15 years. :-(

[lisakaz2]

I only bought Talbot's stuff at an outlet store. Very nice though. Too bad.

[isis]

I like Dillards and they have reasonable prices esp for men's clothing. But some of their stores are smaller with poor selection and those will probably need to close.

[IntrepidReader]

I'm all in favor of Americans cutting back on ridiculous levels of consumption, but I love my country and like my neighbors enough not to rejoice in the closings of stores, car dealerships,banks and other places where huge numbers of us work. I simply don't understand the mindset of those who sit at their computers and woohoo about getting back to basics, as if they haven't noticed that it's not the 1930s anymore and we don't live on farms where we might actually have the means to be self-sufficient on a shoestring budget. I suspect many of those spitefully cheering on disaster live in apartments or suburban tract houses and don't have a clue what the basics really are and how unequipped they would be to live with them. They'll quickly learn that a window box herb garden and a bicycle isn't quite enough.

[Hockenheim]

Companies have long seen the US as a gold mine. Bring stuff in to the US and sell it. In the past it has brought them tremendous profits. However, we are now learning the basic lessons of economics. Production and consumption are linked hand-in-hand. When the production side leaves the town, state or country, the cycle is broken, and the money does not come back. It is like we are force-feeding the world $2 billion a day. It is a slow leak, and the tank is reaching bottom.
Companies are finding out that even Americans need jobs to buy cheap stuff from China.
This holiday, teach retailers a lesson. Do not buy stuff from outside the USA.

[folksonomy]

Pier1/Cost Plus situation is S.A.D. I have two family members employed by both companies.­..not for long.

[LiberalBuzz]

Personally I hate to see anyone lose their jobs and jobs are getting scarcer and scarcer but Rite Aid deserves to go under. They are so over priced and NONE of their sale stuff EVER shows up at our Rite Aid, not to mention when they came here they closed the coolest drug store ever. Roesers. A family owned place that was just the best place.

Pier 1 had some interesting stuff. Hope they stay around.

Williams Sonoma? Interesting stuff if you have more money than sense.

As for the rest?

Never went to any of them anyway.

Still hate to see so many people lose their jobs though.

[Roland3337]

It really s u c ks that many good people will likely lose their jobs.

But on the other hand, it's time we changed our culture, from one of consumption, to production.

[jalowe1957]

Here are some things that are worth noting:

1.) Bon-Ton stores own several department store chains, including Elder-Beerman, Carson Pirie Scott, Boston Store, Bergner's Herberger's and Younkers.

2.) Talbots screwed up by branching out into men's and children's apparel, not to mention its ill-advised j. jill acqusition.

3.) Rite Aid closed all its stores in the Las Vegas area, which may be a precusor for the entire chain going belly-up.

4.) Dillard's is in the process of closing "underperforming" stores, whatever that means.

Most likely candidates to go under: Rite Aid, Eddie Bauer, Pier 1, Cost Plus, Circuit City, Talbots, and Gottschalk's

[MtDavid]

I used to think Cost Plus was great. All that inexpensive, imported, interesting stuff!
I won't go in a Wallmart under any circumstance (well, maybe to save a life), but that's where you now go for cheap stuff from China.

[Bitsko]

If it weren't for the jobs that would be lost, I wouldn't care if all these corporations went under. Who needs this plastic junk?

[LaHenche]

Crash and Burn! Hallejelluljah- or whatever. Get back to basics. Get back to friends and family. FIND YOUR SOUL. Buh-bye mindless scholck.

Funny, they want to unfreeze consumer credit so that we can sell us more debt. Like I said, Crash and Burn!

Woot!

[pbfishtaco]

Go to any retail shopping center, mall, strip mall, etc. Look at how many vacancies there are already. These pufferfish corporations have been staving off failure by fooling their shareholders about their positions. Those mall vacancies are the smaller, local stores that went out of business ahead of the Mervyn's, Eddie Bauers, etc.

We have lived beyond our collective means for the last 30 years, and the "Laffer" is on all of us.

[MoeJava]

Dont know who you are referring to - "We" have lived within our means but have been culled from the herd anyhow. The Rich get richer and the poor - well, they just keep on keepin' on.

[truthforme]

You make an excellent point which is often overlooked. There are many of us who chose to live within our means who are being directly affected as well.

[Cookie100]

Well, I'm waiting for Eddie Bauer to put those $64.50 men's cord's on sale! I'm sure they're made in China, but since my husband needs a 34 inch inseam, they're hard to find, he's tall.
If they don't go on sale tomorrow, I'm looking elsewhere Eddie, don't cut off your nose, to spite your face

[isis]

I agree. I love their cord pants. But they have trouble competing when LLBean gives free shipping. I had trouble with a purchase made at EB using their store credit card--I got billed twice. All customer service did was tell me the card was outsourced. They have not done a lot to get customer loyalty.

[NWBrunette]

Everyone of these stores deserves to go. They have done nothing to distinguish themselves, their prices are high, the same or very similar products can be gotten elsewhere with a better shopping experience and better customer service. Selling the same old boring stuff with half-a-heart attitude doesn't cut it. The real story is that they survived this long. Whatever happened to the idea of healthy competition? You want to succeed? Act like it.

[LiberalBuzz]

Cool another half million jobs gone just like that.

Wheee. can't hardly wait, eh?

[ckinsobe]

Both Pier 1 and Cost Plus are very reasonably priced and I do hope they make it. They have intersting stuff IMHO.

Williams Sonoma has annoyed me for years. $400.00 dollar toaster anybody? Ridiculous. I used to shop there more in the late 80's but not since they went insane with their prices...

[folksonomy]

I agree...I have many items from Pier1 in my very modestly furnished home. I will be very sad to see them close, if that happens. Additionally, I have close family member employed with them for the past three years, and that makes me feel upset.