Microdizzey
Well-Known Member
http://finance.yahoo.com/tech-ticker/article/yftt_187534/Get-Ready-for-Mass-Retail-Closings?tickers=sks,^gspc,jwn,tif,zlc,jcp
Nothing you shouldn't have expected.
Get Ready for Mass Retail Closings
Posted Feb 19, 2009 11:58am EST by Tech Ticker in Investing, Products and Trends, Recession
Related: sks, ^gspc, jwn, tif, zlc, jcp
About 220,000 stores may close this year in America, says our guest, retail consultant Howard Davidowitz of Davidowitz & Associates. As more Americans save and spend less, it's clear there's too much retail space. Just visit Web site deadmalls.com and track retail's growing body count. And luxury retailers? They're on "life support," Davidowitz says.
Among the brandname stores Davidowitz says are in trouble:
Plus, earlier we discussed:
- Nordstrom
- Neiman Marcus
- Tiffany
- Jeweler Zale Corp.
- Saks
- J.C. Penney
- Sears
- Retail goods on sale -- perhaps permanently.
- And the 'worst is yet to come:' Americans' standard of living permanently changed.
Nothing you shouldn't have expected.