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What retailers do you think will be on the chopping block after the first of the year?
I think Circuit City is obvious. I will be surprised if Linens and Things hangs on. There will be some folding or consolidation of department store chains, which ones, I don't know. None of them look too hot. There will also likely be a thinning of the herd in the teen mall retailer genre (think Abercrombie, Aeropostale, Hollister, etc). There are two many stores selling the same stuff. Opinions?
Every shopping mall is dominated by stores selling clothes and shoes. Seeing the likes of Abercrombie go out of business will be a special treat. In fact, seeing empty retailers who were selling mostly imported goods as high prices always makes me feel good.
Every shopping mall is dominated by stores selling clothes and shoes. Seeing the likes of Abercrombie go out of business will be a special treat. In fact, seeing empty retailers who were selling mostly imported goods as high prices always makes me feel good.
Maybe these soon-to-be former retail employees will make themselves useful by collecting scrap plastic and other materials for waste-to-energy, biomass, and other recycling projects for energy and manufacturing.
All the businesses that were based on buying cheap crap from China etc and then marking up to some ridiculous price will be in trouble. Now that the easy money is vanishing people will start to think about their purchases more and they will start to catch on that some of these stores sell the same crap that others sell for half the price.
There are also some zombie businesses that have been living on credit over the past 5 years that are likely to go boost too. Mervyn's, Linen's and things etc.
I have no idea what the company bottom line looks like for Home Goods, but i'm still amazed that they're still in business. I'll guess that they will go under next year.
I have to think Sears is on the ropes
Definitely Circuit City
How about Pier 1?
Not sure how Pier 1 is still hanging on as is. There aren't ever any cars in the parking lots. I also think Home Depot/Lowes will need to cut back. Their expansion during the bubble was absurd. I sure hope Sears hangs on but they could be a casualty as well. Perhaps the most vulnerable are the numerous small boutique shops lining the streets of affluent areas. All of this said, unlike most people here I don't delight in these places going under and millions losing their jobs. By Q2 2009, this slew of bankruptcies will push unemployment above 10 percent. In addition, the abandoned big boxes everywhere will increase crime and further depress property values.
I guess the real interesting question is what we do with all of this retail space once the retailers go bankrupt and close. There is going to be A LOT of huge, empty buildings that will be available for rent or purchase at pennies on the dollar when all is said and done.
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