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Posted by Anonymous
  • 79 Replies

Long Story .......Short these store are closing and walmart isn't, lol

These are the eight retailers that will close the most stores in 2013.

1. Best Buy

REUTERS/Brendan McDermid> Forecast store closings: 200 to 250
> Number of U.S. stores:1,056
> One-year stock performance: -36.8%

The holiday season was rough for Best Buy Co. Inc. (BBY). Same-store sales declined by 1.4% year-over-year, with international stores posting a 6.4% decline while U.S. same-store sales were flat. Companywide, the electronics retailer reported that holiday revenue had declined to $12.8 billion from $12.9 billion the year before. In the most recent completed quarter, during which same-store sales declined 4.3%, the company reported a loss of $0.04 per share. Best Buy has been plagued by customers “showrooming” — looking at products in the store and then purchasing them online — in recent years. Speculation persists that former chairman and founder Richard Schulze may buy out the company.

2. Sears Holding Corp.

AP Photo/Alan Diaz> Forecast store closings: Kmart 175 to 225, Sears 100 to 125
> Number of U.S. stores: 2,118
> One-year stock performance: 8.8%

Both Sears and Kmart have been going down the tubes for a long-time, steadily losing their middle-income shoppers to retailers such as Wal-Mart Stores Inc. (WMT) and Target Corp. (TGT). Sears Holdings Corp.’s (SHLD) same-store sales have declined for six years. In the most recent year, same-store sales at the namesake franchise fell by 1.6% and at Kmart by 3.7%, compared to the year-ago period. The company is already in the process of downsizing its brick-and-mortar presence. In 2012, Sears announced it was shutting 172 stores. CEO Lou D’Ambrosio is leaving the company in February, to be replaced by chairman and hedge-fund manager Edward Lampert. Lampert has minimal operating experience in retail management.

3. J.C. Penney

REUTERS/Mike Blake/Files> Forecast store closings: 300 to 350
> Number of U.S. stores: 1,100
> One-year stock performance: -53.6%

J.C. Penney has gone through a rough stretch recently. In the most recent quarter, same-store sales fell by 26.1% compared to the year-ago period. Even Internet sales, which are increasing significantly across the retail sector, have taken a turn for the worst, falling 37.3% in the third quarter, compared to the prior year. J.C. Penney sales have taken a turn for the worst since former Apple Inc. (AAPL) retail chief Ron Johnson took the helm at the company. Johnson’s plan, among others, has been to wean customers off of heavy discounting and simply give customers low prices. However, retail strategists and analysts have argued that Johnson’s plans have created confusion among customers and has been a further setback to any potential turnaround.

4. Office Depot

Jack Dempsey/Invision for Office Depot/AP Images> Forecast store closings: 125 to 150
> Number of U.S. stores: 1,114
> One-year stock performance: 50.7%

Office Depot Inc.’s (ODP) troubles date back to years of competition against OfficeMax Inc. (OMX) and Staples Inc. (SPLS), as well as big-box retailers like Walmart. All three stores were dealt a blow from reduced business activity during the recession, as well as increased popularity of online retailers such as Amazon. The company’s North American division reported an operating loss of $21 million in the third quarter of 2012. Office Depot plans to relocate or downsize as many as 500 locations and close at least 20 stores. In the third quarter of 2012, the company closed four stores in the United States, and same-store sales were down by 4% year-over-year.

[More from 24/7 Wall St.: America's Most Misleading Product Claims]

5. Barnes & Noble

REUTERS/Mike Blake> Forecast store closings: 190 to 240, per company comments
> Number of U.S. stores: 689
> One-year stock performance: 8.95%

The move by customers away from print books toward digital books has hurt Barnes & Noble Inc. (BKS). Same-store sales during the nine-week holiday season fell by 8.2% year-over-year. The bookseller has tried to offset the declines in physical book sales with its Nook e-book reader device, but sales of that device fell 13% compared to the previous year. The company already has begun cutting down the number of its stores in the past several years. In a recent interview with the Wall Street Journal, the head of the retail group at Barnes & Noble said he expected the company to have just 450 to 500 retail stores in 10 years.

6. Gamestop

REUTERS> Forecast store closings: 500 to 600
> Number of U.S. stores: 4,471
> One-year stock performance: -2.2%

In November, just as the holiday season was in full swing, GameStop Corp. (GME) announced it would close 200 stores in 2013. The video game retailer, hurt by growth in mobile gaming at the expense of console gaming platforms, had a 4.6% year-over-year decrease in revenue, as well as a 4.4% decline in comparable-store sales over the nine-week holiday period. For the third quarter of 2012, the most recent quarterly release, gross profits fell at GameStop’s three core product segments: new hardware, new software and used products.

7. OfficeMax

Carlo Allegri/Getty Images> Forecast store closings: 150 to 175
> Number of U.S. stores: 872
> One-year stock performance: 80.8%

OfficeMax, like rival office-supply stores such as Staples and Office Depot, has been hit hard by both online competition and lower sales for technology products such as personal computers. In the third quarter of 2012, OfficeMax reported that same-store sales in the U.S. fell by 2.6%. Midway through the fourth-quarter of 2011, the company announced that it would seek to close 15 to 20 stores every year for the next five years. In addition, the company has been in the process of downsizing its square-footage presence by moving into smaller locations.

8. RadioShack 

AP/Lisa Poole> Forecast store closings: 450 to 550
> Number of U.S. stores: 4,412
> One-year stock performance: -68.1%

Earlier this month, RadioShack’s long-term prospects as a viable company took another hit when its partnership with Target ended after neither side could come up with a mutually beneficial deal. The company had operated mobile kiosks at 1,500 Target locations across the country. Shares of the consumer electronics company are down by roughly 68% over the past year. The company recorded an operating loss of nearly $60 million in the third quarter of 2012. Same-store sales in the quarter dropped by 1.6% year-over-year. Revenue in the quarter fell by 3.8% year-over-year. Between 2010 and 2011, the company closed 2.2% of its existing locations — more than 120 locations in all.

Posted by Anonymous on Feb. 4, 2013 at 9:37 AM
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Replies (1-10):
by on Feb. 4, 2013 at 9:40 AM
1 mom liked this

That's terrible, all those jobs.

by Anonymous 2 on Feb. 4, 2013 at 9:41 AM
1 mom liked this
Walmart is the sloppiest out of all these. Why are you thrilled?
by Anonymous 3 on Feb. 4, 2013 at 9:42 AM
3 moms liked this

I wish it was the other way around.

by Beth on Feb. 4, 2013 at 9:42 AM
That's sad.
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by ThePonds on Feb. 4, 2013 at 9:42 AM
I'm not really surprise by any of them. I was waiting for gamestop because I have 10 within a 10 min driving distance from my house. I think dh will be most upset about that one.
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by on Feb. 4, 2013 at 9:43 AM
2 moms liked this
How sad. Barnes and Noble make me the saddest. I think Sears is still a pretty big player in Canada, I'd be surprised to see them shut down stores here.
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by on Feb. 4, 2013 at 9:43 AM
I hate Walmart. I wish they would close a few of their stores.
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by Anonymous 1 - Original Poster on Feb. 4, 2013 at 9:44 AM
1 mom liked this

I'm not really BUT we will miss all those great walmart posts IF walmart starts closes down stores

Quoting Anonymous:

Walmart is the sloppiest out of all these. Why are you thrilled?

by Anonymous 4 on Feb. 4, 2013 at 9:44 AM

I don't see it happening.  My brother works for Best Buy.  He is not just some kid working there but holds a fairly high position at the corporate level.  They are building stores.  In fact, they just built a store and opened it that a good friend of mine got a management position at. 

by on Feb. 4, 2013 at 9:44 AM
Don't like all the job loss that is going to happened, but I'm not surprised. Best buy just sucks ass. They can be totally in the wrong and not care. And the restocking fees! Radio shack is over priced. Sears and Pennys need to do something but not sure what. Barnes and nobles is sad, but with ebooks not surprisingly. I'd still rather hold a real book myself.
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