Dick's CEO: "The Retail Industry Is In Panic Mode"

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Thu Oct 03, 2019 5:31 pm

Doc wrote:
Thu Oct 03, 2019 8:06 am
Milo wrote:
Mon Sep 30, 2019 6:29 am
Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html
Bed bath and beyond is closing another 60 stores
Pizza Hut is closing stores that don't have a big delivery/takeout business.

Though I am not sure how amazon competes against them. So this seems to be people not being interested in going out to eat pizza. Or just a lot more competition.
I think that's more Uber Eats, Doordash and Postmates.

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Doc
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Thu Oct 03, 2019 6:24 pm

Milo wrote:
Thu Oct 03, 2019 5:31 pm
Doc wrote:
Thu Oct 03, 2019 8:06 am
Milo wrote:
Mon Sep 30, 2019 6:29 am
Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html
Bed bath and beyond is closing another 60 stores
Pizza Hut is closing stores that don't have a big delivery/takeout business.

Though I am not sure how amazon competes against them. So this seems to be people not being interested in going out to eat pizza. Or just a lot more competition.
I think that's more Uber Eats, Doordash and Postmates.
Maybe but that is kind of expensive.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Milo
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Joined: Thu Dec 15, 2016 10:14 pm

Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Fri Oct 04, 2019 9:32 am

Doc wrote:
Thu Oct 03, 2019 6:24 pm
Milo wrote:
Thu Oct 03, 2019 5:31 pm
Doc wrote:
Thu Oct 03, 2019 8:06 am
Milo wrote:
Mon Sep 30, 2019 6:29 am
Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html
Bed bath and beyond is closing another 60 stores
Pizza Hut is closing stores that don't have a big delivery/takeout business.

Though I am not sure how amazon competes against them. So this seems to be people not being interested in going out to eat pizza. Or just a lot more competition.
I think that's more Uber Eats, Doordash and Postmates.
Maybe but that is kind of expensive.
Eating out is expensive anyway but many people now like to do it at home.

Blue Apron actually claims to be cheaper than groceries and of course all of these entrants are getting plenty of cash to burn to capture a market... for now anyway.

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Doc
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Fri Oct 04, 2019 10:06 am

Milo wrote:
Fri Oct 04, 2019 9:32 am
Doc wrote:
Thu Oct 03, 2019 6:24 pm
Milo wrote:
Thu Oct 03, 2019 5:31 pm
Doc wrote:
Thu Oct 03, 2019 8:06 am
Milo wrote:
Mon Sep 30, 2019 6:29 am
Forever 21 files for bankruptcy and will close up to 178 US stores
Forever 21, the teenage clothing emporium that rode America's mall boom and bust, filed for Chapter 11 bankruptcy on Sunday.

The chain said it is planning to overhaul its global business, closing between 300 and 350 stores, including as many as 178 in the United States. It also plans to exit "most of its international locations in Asia and Europe." The company, which currently has 549 US stores and 251 in other countries, will continue to operate in Mexico and Latin America.
In a letter to customers, the company said that decisions about which US stores would close were continuing, "pending the outcome of continued conversations with landlords."
It's not slowing down, its speeding up!
So far this year, retailers in the United States have announced more than 8,200 store closings, already exceeding last year's total of 5,589, according to Coresight Research. Payless and Gymboree both filed for bankruptcy for a second time, closing nearly 3,000 stores between them.
High-end retailer Barneys files for bankruptcy
Further retail shutdowns are expected to pile up and may reach 12,000 by the end of 2019, Coresight predicts.
https://us.cnn.com/2019/09/29/business/ ... index.html
Bed bath and beyond is closing another 60 stores
Pizza Hut is closing stores that don't have a big delivery/takeout business.

Though I am not sure how amazon competes against them. So this seems to be people not being interested in going out to eat pizza. Or just a lot more competition.
I think that's more Uber Eats, Doordash and Postmates.
Maybe but that is kind of expensive.
Eating out is expensive anyway but many people now like to do it at home.

Blue Apron actually claims to be cheaper than groceries and of course all of these entrants are getting plenty of cash to burn to capture a market... for now anyway.
The younger generations like to eat take out at home quite a bit I guess. AS for the cash Seems like at least the mid 2000's there has be an exess of cash to invest chasing to few investments. But I think that has be true since the 90's and the internet bubble.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Sat Nov 09, 2019 1:34 pm

Amazon buying up dead malls!


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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Mon Feb 17, 2020 3:51 pm

Pier 1 Imports, the Struggling Home Goods Retailer, Files for Bankruptcy
Pier 1 Imports, the home goods retailer that in the 1990s became a popular destination for exotic rattan chairs and cheap embroidered pillows only to cede its market niche over the last decade to lower-priced competitors, announced on Monday that it had filed for bankruptcy and was pursuing a sale of the company.
The Pier 1 bankruptcy underscores fundamental challenges facing American retailers that rely heavily on brick-and-mortar stores. This month, Macy’s announced that it would close about 125 of its stores over the next few years and shed about 2,000 jobs. Last year, a number of fashion retailers declared bankruptcy, among them Barneys New York, Payless Shoesource and Forever 21.
Pier 1 has already closed or started going-out-business sales at more than 400 stores, and it plans to close two distribution centers, the statement said. The company’s online store as well as the several hundred brick-and-mortar locations that remain open are operating as normal, according to the statement.

But some retail industry veterans were skeptical that the retailer could survive bankruptcy.
https://www.nytimes.com/2020/02/17/busi ... uptcy.html

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Milo
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Milo » Tue May 19, 2020 7:07 pm

Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801

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Doc
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Tue May 19, 2020 8:08 pm

Milo wrote:
Tue May 19, 2020 7:07 pm
Where's the bottom?
After trying to restructure itself and find a buyer for months, U.S. retail chain Pier 1 announced Tuesday that it will wind down operations and close all 540 of its stores in the U.S. and Canada

The chain filed for bankruptcy protection in February and said at the time it hoped to find a buyer for the business, which at the time included 50 stores in Canada and almost 500 in the U.S.

On Tuesday the company announced those efforts had failed to find a buyer, so it will instead shut down the business entirely.
https://www.cbc.ca/news/business/pier-1 ... -1.5575801
Furniture chains like Pier 1 have been disrupted by companies like Wayfair.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Sertorio
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Sertorio » Wed May 20, 2020 2:12 am

Constructive destruction, or maybe just further concentration of wealth, so that the 1% will soon be 0.5%...

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Doc
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Re: Dick's CEO: "The Retail Industry Is In Panic Mode"

Post by Doc » Wed May 20, 2020 6:15 am

Sertorio wrote:
Wed May 20, 2020 2:12 am
Constructive destruction, or maybe just further concentration of wealth, so that the 1% will soon be 0.5%...
If it become the 0.5% Bernie will be pleased as he is only a 1%er.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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