How US Retail landscape shape up?
“…This spending slump, which started in early 2008, has already claimed a number of retail casualties. Prominent national chains such as Linens 'n Things, Steve & Barry's, KB Toys, Whitehall Jewelers and Shoe Pavilion have gone out of business.
Still others such as No. 2 electronics seller Circuit City are barely surviving, hoping to find a lifeline while in bankruptcy protection.
But after suffering one of the worst year-end shopping seasons in decades - November and December combined can account for half of merchants' annual profits and sales - experts predict that many more chains will disappear.
The International Council of Shopping Centers estimates that chain store closings could exceed 3,100 in just the first half of the year…..another 73,000 stores will close in the first half of 2009."
Need to watch as to what happens to the bailout retailers are pitching for.
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Thursday, January 8, 2009
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