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Old 11-17-2008, 05:07 PM
 
Location: Sunshine N'Blue Skies
13,320 posts, read 20,343,047 times
Reputation: 11657

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Gift cards risky in tough times | Business | Idaho Statesman (http://www.idahostatesman.com/business/story/571742.html - broken link)

I just received a letter from a cousin. I can't post it here as it is probably a personal letter to her..
On it was a list of stores that are closing, or downsizing, and not looking so swell.
This list is longer then I imagined. It has stores that I love on it.
I'm not a big Gift Card purchaser........I'd rather give a personal gift.
But, in the case of an older persons birthday I was going to purchase a
AmEX gift card.
I'd say there was a good 40/50 stores listed. I just don't want to throw money down the drain........I'm sure you don't too.
I'll try to make a list of the ones mentioned. But, give this some thought this year. Be careful.
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Old 11-17-2008, 05:34 PM
 
Location: Sunshine N'Blue Skies
13,320 posts, read 20,343,047 times
Reputation: 11657
Default Info from a Consumer Reporter...

Ann Taylor closing 117 stores nationwide...

Eddie Bauer to close more stores...already closed 27 shops

Cache closing stores

Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide.

Talbots, J. Jill closing stores..shuttering all 78 of its kids and mens stores and 22 underperformers.

Gap Inc closing 85 stores in addition to its namesake chain...they also own Old Navy and BananaRepublic...its weighted toward the Gap brand.

Foot Locker to close 140 stores

Wickes is going out of business..Wickes Furniture closing all stores.

Goodbye Levitz/Bombay closed already.

Zales, Piercing Pagoda...Underperforming stores...50 kiosks and 55 stores.
planned for closure.

Disney Store owner has the right to close 98 stores . It acquired about 220 stores from Childrens Place...Childerens Place filed for bankruptcy protection.

Home Depot store closings E.Brunswick Rt 18 just put up their closing sign ..It is shuttering some stores. Underperforming US stores...within the next two months.

CompUSA Closed ...They did make arrangements with card holders and rebates, rain checks, etc. ( good honorable gesture)

Macy's 9 stores

Movie Gallery Reorganization plan to exit bankruptcy...will close 400 of 3,500 Movie Gallery and Hollywood Video stores..

Pacific Sunwear...150 demo stores

JC Penneys, Lowes, and Office Depot are scaling back......But still open and running

Spriint Nextel Cutting work force ...dropping the ax on 4,000 employees and 125 retail stores. Shares are down.

Wilson the Leather Experts...158 stores

Sharper Image...filed for bankruptcy

Bombay Company Freehold Mall closed...will clsoe all 384 US based Bombay stores..Online storefront has discontinued operations.

KB toys...356 stores are closing around the US as part of bankruptcy reorganization.

Dillards to Close more stores...under performers.

Ok this is general information, please do your own research before buying a gift card. Nothing worse then throwing you money away. I understand this info came from a consumer reporter. In this day and time, we have to be careful consumers. I regret any errors, but this is the information before me. I'd love to be wrong on every one. But, some I have read about and some are new to me. Careful with your gift cards please!
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Old 11-17-2008, 05:40 PM
 
8,778 posts, read 16,988,876 times
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I was just thinking about this subject last week. I usually throw in a gift card to a toy store to nieces/nephews along with the gifts that i've purchased them. Not this year. The older ones will get cash in lieu of a gift card, and the younger ones i'll have to pick up extra gifts in lieu of gift cards.
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Old 11-17-2008, 06:55 PM
 
Location: Kirkwood, DE and beautiful SXM!
12,054 posts, read 20,519,043 times
Reputation: 31775
I usually send relatives a gift card. In the past, they have been for different restaurants. However, I think this year the cards might be for Walmart. I know that all of them shop there, and with the economy, I don't think Walmart will be closing any time soon.
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Old 11-17-2008, 06:59 PM
 
Location: Upland, CA
3,755 posts, read 6,612,999 times
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Honestly, though, none of those stores on the list are a surprise at all.

I was at the mall today... and I would swear to you I may have seen 20 people in the whole mall that were shopping. I was the only person in Gap. There was no one in either of the Foot Lockers in the mall. Macys had NO ONE in there.

If you are going to buy Gift Cards, buy the Visa ones, or for stores that are not going anywhere, like Best Buy, Target, etc..
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Old 11-17-2008, 07:04 PM
 
Location: Alexandria, VA
11,625 posts, read 20,784,505 times
Reputation: 17031
All the Macy's shoppers are waiting until tomorrow and Wed. - big one day sales.

I think Gap is overpriced for the quality of what they sell, Ann Taylor also - they sometimes have something I'd like but I won't pay those prices.
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Old 11-17-2008, 07:21 PM
 
Location: Coachella Valley, California
15,566 posts, read 36,936,817 times
Reputation: 13202
And the worst of all ... they closed the Macaroni Grill (restaurant) in Palm Desert! WTH??? It was always packed, had excellent food, reasonably priced, then a couple of days before it actually closed, there was an article in our paper about the impending closure. No explanation, nothing. Just gone. No more Sole Parmesan for Miss Twinkle!!!
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Old 11-17-2008, 08:27 PM
 
Location: Sunshine N'Blue Skies
13,320 posts, read 20,343,047 times
Reputation: 11657
Quote:
Originally Posted by IonRedline08 View Post
Honestly, though, none of those stores on the list are a surprise at all.

I was at the mall today... and I would swear to you I may have seen 20 people in the whole mall that were shopping. I was the only person in Gap. There was no one in either of the Foot Lockers in the mall. Macys had NO ONE in there.

If you are going to buy Gift Cards, buy the Visa ones, or for stores that are not going anywhere, like Best Buy, Target, etc..
Well, I think Eddie Bauer is a surprise to me. I'm looking at a full page ad and a coupon for so much off in the Good Housekeeping of this month.
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Old 11-18-2008, 10:27 PM
 
Location: Beautiful place in Virginia
2,658 posts, read 10,570,905 times
Reputation: 1281
Gift cards are a waste. I do not advocate the purchase of them.
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Old 11-19-2008, 07:34 AM
 
Location: home...finally, home .
8,266 posts, read 18,722,586 times
Reputation: 17856
In fact, just today I read in the paper that it is much better to give a check. There are so many stores closing and so many restrictions on gift cards that they are really not worth buying.
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