Interesting list of 10 stores who's Holiday Sales may necessitate closing some outlets in 2010. (Warning> this is just a prediction on the part of the article, not yet a fact.)
From 24/7 Wall St.
ZALES: Down 11% 3rd Qt., 2009. 'Will' close 200 stores.
ABERCROMBIE AND FITCH: Down 15 to 17% same store sales, 4th Qt., 2009. 'Will' close 179 stores.
GAMESTOP: "Below forecast..." 'Will' close 400 stores.
BARNES AND NOBLE: Down 5.1% over the holidays. 'Will' close 100 stores.
HOT TOPIC: Same store sales down 11% in Nov., 10% in December. 'Will' close 200 stores.
DILLARD'S: Down 8% in December. 'Will' close 25 stores.
JC PENNY: Down 5% in 4th Qt. (but down 11% in middle of year). 'Will' close 25 stores.
STEINMART: Down 10%. 'Will' close 35 stores.
I noticed they don't even mention the weak sisters from last year, such as Borders or Blockbuster. I think they've already written them off...
The three most interesting stores to me, are Barnes and Noble, of course, Gamestop, and Hot Topic.
I doubt B & N are going anywhere, and by all accounts their Bend store does very well. But I think their glory expansion days are over, and it will be a rear guard action from now on.
Turns out, video games aren't actually doing so hot. Who knew? But talk about your cyclical business. But this is the kind of business that could suddenly rebound with a new technology system or popular game.
Hot Topic complained of "pirated" t-shirts. But you know what, live by the "hot" product, die by the "hot" product. I realized a long time ago that popularity comes and goes, and any store that bases it's business model on popularity will eventually go off a cliff. The real trick is to still have enough customers even when you're off the current 'want' lists and be patient enough for the pendulum to swing back.
From 24/7 Wall St.
ZALES: Down 11% 3rd Qt., 2009. 'Will' close 200 stores.
ABERCROMBIE AND FITCH: Down 15 to 17% same store sales, 4th Qt., 2009. 'Will' close 179 stores.
GAMESTOP: "Below forecast..." 'Will' close 400 stores.
BARNES AND NOBLE: Down 5.1% over the holidays. 'Will' close 100 stores.
HOT TOPIC: Same store sales down 11% in Nov., 10% in December. 'Will' close 200 stores.
DILLARD'S: Down 8% in December. 'Will' close 25 stores.
JC PENNY: Down 5% in 4th Qt. (but down 11% in middle of year). 'Will' close 25 stores.
STEINMART: Down 10%. 'Will' close 35 stores.
I noticed they don't even mention the weak sisters from last year, such as Borders or Blockbuster. I think they've already written them off...
The three most interesting stores to me, are Barnes and Noble, of course, Gamestop, and Hot Topic.
I doubt B & N are going anywhere, and by all accounts their Bend store does very well. But I think their glory expansion days are over, and it will be a rear guard action from now on.
Turns out, video games aren't actually doing so hot. Who knew? But talk about your cyclical business. But this is the kind of business that could suddenly rebound with a new technology system or popular game.
Hot Topic complained of "pirated" t-shirts. But you know what, live by the "hot" product, die by the "hot" product. I realized a long time ago that popularity comes and goes, and any store that bases it's business model on popularity will eventually go off a cliff. The real trick is to still have enough customers even when you're off the current 'want' lists and be patient enough for the pendulum to swing back.