Storch Advisors CEO and former Toys “R” Us and Target executive Gerald Storch reacts to a strong November retail report and explains how the industry’s winners are ‘value-based’ players.
It’s been a tough year for some of the country’s best-known retailers and restaurants, some of which once marked the fabric of local communities and are now closing their doors or shrinking their footprints.
According to CRE Daily, the number of store closures in the US this year has exceeded the number of openings, something that will not be seen in 2023 or 2022.
This comes after it announced plans to close more than 4,000 stores in 2023, twice as many as last year, according to analysis by Daily on Retail, an investor-oriented consumer research platform cited by the National Retail Federation. .
Fox Business has a list of the domino effect it’s having on American retailers and casual dining shops.
chaos: It won’t be a Merry Christmas for The Container Store, which filed for Chapter 11 protection on Sunday. However, the retailer is offering a glimmer of hope for organization fanatics… Continue reading here.
Party over: This is the finale of Party City. The one-stop retailer for anyone planning a party is calling it quits after 40 years in business… Continue reading here.
Macy’s Malice: Macy’s, once a major department store, said it will close more stores than initially planned… Continue reading here. As an activist investor it discusses how the retailer can protect itself… Continue reading here. Check Shares of macy is here,
Walgreens: The drugstore chain filed for Chapter 11 bankruptcy last month. Now the company is 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 health care chain ousted its CEO this year… Continue reading here. The move comes after plans to cut 2,900 jobs… Continue reading here And there are plans to open a total of 900 stores by the end of 2024. check cvs share here,
Slurpee Meltdown: 7-Eleven is having trouble competing. Despite being the home of the iconic Slurpee drink, it plans to close hundreds of underperforming stores… Continue reading here,
Big Lots: The discount retailer filed for Chapter 11 bankruptcy last month. Now the company is increasing the number of store closures, which could be around 500… Continue reading hereIt began its “going out of business” sale in December… Continue reading here.
Shrimp Failure: Red Lobster’s endless shrimp deals ultimately sank the seafood chain, which filed for bankruptcy. Now, the new CEO is considering how to keep the brand intact with new ideas… Continue reading here,
Hour of sorrow: TGI Fridays, once a familiar face in malls and airports, is closing locations in the US and UK… Continue reading here,
Home Improvement Hits: LL Flooring, born out of former lumber liquidators, is leaving its… Continue reading here, Additionally, furniture and home goods major Conn is closing 70 stores in 13 states… Continue reading here,
Bye-bye: Bob’s Stores is making a hurry and closing all of its nearly two-dozen locations and going out with a big sale… Continue reading here,
Stop in and Shop: The chain, once a leading grocery store in the Northeast, is now closing 32 stores by the beginning of November*… Continue reading here,
Joan: After 81 years, the clothing and crafts seller is filing for Chapter 11 bankruptcy protection as its future hangs in the balance… Continue reading here,
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*This was originally published on 10/20/24.
