Separate names with a comma.
Discussion in 'Money Talk$' started by LadyEagle, Nov 25, 2008.
Got this email today, don't know if it's true or not!! If so, it's pretty glum.
Talbot's victim of email hoax
Good idea to check before posting rumors. lest they become self fulfilling.
Yes, you're right of course. But if Talbots is planning to close, they wouldn't officially announce it right now in the middle of the Christmas season, would they? That would be shooting themselves in the foot when there is inventory to be sold and gift cards to be sold. One never knows what to believe anymore, the emails or the press releases (propaganda?)....
So I'll stick to giving restaurant and gas gift cards and helping the homeless.
I don't know if these companies are going under or not, but I do see a trend with them...
They are mostly all high priced stores. One has to wonder if these companies that are hurting are hurting because they did it to themselves?
I believe closing stored down that are not profitable makes sense. I also believe that if you sell products for too high or a price, people won't shop there and the company will go under...
Actually Talbot's has sold off its Kid's and Men's stores, but still operates about 1400 stores nationwide under the Talbot's and J. Jill names. The Christmas season is a great time for stores to liquidate and go out of business. The store I worked for a few years ago did exactly that and I found myself out of a job in Jan. You can move a ton of merchandise in a liquidation, and the Christmas season moves the merchandise even faster.
I have a friend who works for a major liquidation company, right now he is a regional manager on the circuit city closings. If your circuit city isn't closing now don't be suprised if it does right after christmas. Anyway my friend's busiest time of the year is the 4th quarter. Of course with todays economy they are busy all time.
When you hear about store closings remember that retailers are constantly closing unprofitable stores and opening new locations. For example of the Gap will close about 115 stores in 2008 and expects to open about 100 stores leaving them with about 3200 stores. A net loss of 15 stores out of 3200 is nothing.
Also some of the information on your list is old. The Pep Boys stores closed in 2007.
I would be very careful about where I bought Gift Cards this holiday season. If you give someone a Gift Card suggest that they use it ASAP. Many companies are closing and when a chain goes out of business it's gift cards become no good.
All retailers close underperforming stores every year. Starbucks closing 600 stores? So what. They normal shut down 200 or so a year. They are also opening another 400 stores presently. This is normal business for retailers.
GAP closing 85 stores? What a joke...they have thousands. They could shut down half their centers and still be profitable.
Which retailers are really a concern? The ones that are out of business. lol Linen-n-Things, Mervyns. Circuit City is closing 155 stores under Chapter 11. They are re-organizing, not going out of business...yet. But they could. What does a Circuit City closing mean? Best Buy's sales will go up and Best Buy will expand their market share by taking the space CC is leaving in markets that BB is not.
The email was looked at by my company who is one of the largest retail property managers in the country. We know the retail business well. The email is a joke. We all got a good laugh out of it.