Storch Advisors CEO and former Toys”R”Us and Target executive Gerald Storch reacts to a strong November retail sales report and explains how the industry’s winners are value-based players.
It’s been a tough year for some of the nation’s best-known retailers and restaurants, some of which once scarred the fabric of local communities and are now closing their doors or shrinking their footprints.
This year, U.S. store closures outnumbered store openings, something not seen in 2023 or 2022, according to CRE Daily.
This happens after in 2023 more than 4,000 stores announced plans to close, double the number from the previous year, according to an analysis by Daily on Retail, an investor-oriented consumer research platform, cited by the National Retail Federation.
FOX Business summarizes the domino effect affecting US retailers and casual dining establishments.
DISORGANIZATION: It won’t be a Merry Christmas for The Container Store, which filed for Chapter 11 protection on Sunday. However, the retailer offers a glimmer of hope for organization fanatics… continue reading here.
THE PARTY’S OVER: This is the finale of Party City. The one-stop retailer for anyone planning a bash is calling it quits after 40 years in business… continue reading here.
MACY’S MALICIOUSNESS: Macy’s, a former department store, said it will close more stores than originally planned… continue reading here. This as an active investor hits the table on how the retailer can save itself… continue reading here. Check stocks of Macy’s here.
WALGREENS: The drugstore chain filed for Chapter 11 bankruptcy last month. The company is now increasing the number of store closures, which could be around 500… continue reading here. Check out Walgreens share here.
CVS SHAKE-UP: The pharmacy and healthcare chain ousted its CEO this year… continue reading here. The move follows plans to cut 2,900 jobs… continue reading here and plans to cut a total of 900 stores by the end of 2024. Check CVS share here.
SLURPEE SLUMP: 7-Eleven has competition issues. Despite being home to the iconic Slurpee drink, it plans to close hundreds of underperforming stores… continue reading here.
LARGE BATCHES: The discount retailer filed for Chapter 11 bankruptcy last month. The company is now increasing the number of store closures, which could be around 500… continue reading here. He started his Going Out of Business sales in December… continue reading here.
COMPLETE COVERAGE OF US RETAILERS
SHRIMP FAIL: Red Lobster’s never-ending shrimp deal ultimately sank the seafood chain, which filed for bankruptcy. Now the new CEO is considering how to keep the brand going with new ideas… continue reading here.
UNLUCKY HOUR: TGI Friday’s, once a familiar face in malls and airports, is closing US and UK locations… continue reading here.
HOME IMPROVEMENT HIT: LL Flooring, born out of the former Lumber Liquidators, is giving up… continue reading here. Also, furniture and home goods major Conn’s is closing 70 stores in 13 states… continue reading here.
BYE-BYE: Bob’s Stores is throwing in the towel and closing all of its nearly two dozen locations and coming out with a bang with big sales… continue reading here.
STOP AND SHOP: Once a dominant grocer in the Northeast, the chain is now closing 32 stores by early November*… continue reading here.
JOAN: After 81 years, the fabric and crafts retailer files for Chapter 11 bankruptcy protection, with its future hanging in the balance… continue reading here.
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* This was originally published on 10/20/24.
2024-12-25 19:00:03
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