Retailers that should be shutting stores

An orderly retreat is central to these chains' struggles to avoid the fate of Borders, Circuit City and other well-known retailers that went out of business. Here’s what they need to do.

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398Comments
Feb 10, 2013 12:19PM
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I used to love Penneys.  Now I go there and can't find anything I like.  Everything is geared toward teenagers. I'm in my 50's and don't want to dress like a teenager, but am not ready for granny dresses either.  If the teenage market is what they're after, fine, but maybe they should remember that my age group has a lot more money to spend than the average teenager.  In the meantime, I'm looking for a new place to shop.
Feb 11, 2013 11:43AM
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Maybe these stores are closing because we can't afford to shop anymore.  Washington has done nothing to help the middleclass in years and retailers are feeling the pain. I bring home $60 dollars less every paycheck and just can't afford to shop. I suspect this will only get worse as our debt grows and the electorate looks for even more handouts.
Feb 9, 2013 6:02AM
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I can understand why Best Buy has been going down the tubes.  They have such terrible customer service.  Lots of problems with returns or getting service.  Each employee will tell you something different. 

Feb 8, 2013 10:04PM
Feb 10, 2013 1:27PM
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Retailers are still charging prices that reflect pre Obama average incomes, and the average family income throughout the US is now roughly half of what it was 8 years ago. I personally make 1/3 of my 2003 salary.  Prices have continuously risen 3% to 7% per year, and taxes are skyrocketing.  DemocraticSocialists think they are immune to these increases but by Summer 2014 they will realize that Congress (Democrat-Socialist) took dead aim at RICH people, and hit middle America right between the eyes!
Feb 10, 2013 12:53PM
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All of these store closing proves the economy is getting WORSE not better.  There are many large companies closing where I live.  This proves the same thing.  Don't believe the liberal media with their statements about the economy improving.  The proof lies with the facts not the dumb liberals moving their mouths.
Feb 9, 2013 10:53AM
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Customer service at Best Buy is ZERO! They are always trying to sell a service contract which you are hard pressed to get service on. They deserve to go out of business. I say, "GOOD RIDDANCE!!"
Feb 8, 2013 11:30PM
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People want a good bargain, but quality too.  J.C. Penny went the other way of the consumers.  Best buy need more discounts.  KMart is probably bringing down Sears.
Feb 11, 2013 10:03AM
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On the other side of the coin, you wouldn't BELIEVE the number of Dollar Stores that have opened in my area in the last year. And they are always PACKED with people.

Feb 8, 2013 9:54PM
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JCP was a reliable place to shop and Stafford shirts were the best available. No longer.

* I ordered Stafford shirt online.
-- Shirt arrives with monogram I did not order and is not my initials. JCP's 'phone rep says will send pre-paid shipper to return shirt. It never arrives.
* I return shirt to store and reorder.
-- Second attempt arrives in wrong size.
* I return second shirt to store and try to reorder
-- I'm told shirt is discontinued.

I drove 50 miles back and forth for a shirt that I do not have. I asked the sales clerk what was going on with JCP and this 40-year JCP employee told me that all the processes deteriorated since the new leadership arrived and that wrong shipments are common now.

As a finance guy, I recognize that one trick to inflate revenue is to book sales on wrong shipments and reverse the sales later when they are returned -- after later misshipments created sales "float" to replace them. Is this the driver behind the increased misshipments at JCP?
Feb 10, 2013 10:09PM
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Economy is running on borrowed money, printed money. But still the debt load of the economy is too much. It cannot carry the burden of servicing excessive debt. Nothing has been fixed. Debt was the problem to begin with and we have more of it now. Google for "CONQUER THE CRASH KONDRATIEFF WAVE" to understand the deflationary forces in the economy. Next time you hear consumer is holding up the economy, keep in mind, it only means we are spending the money we don't have. It is a dead end. It will crash. Printing money is not the sign of a healthy economy. It is the sign of a dying economy!
Feb 10, 2013 6:56PM
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Yes Sears and Jc Penny's have been in and out of trouble since the 80s. I would like to see bank of america  and citi bank  join the list of the list of gone for good also Sears was a great company at one time but they made so many missteps I doubt if they can hang on for long.
Feb 10, 2013 2:10AM
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Best Buy does not suffer from showrooming.  Their inventory is skitzo. When you go to the store, you can't find an associate to help you, If you do, they try to sell you something you don't want. 

Feb 10, 2013 4:48AM
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BestBuy = a catchy name, BUT far from the actual best buys. I can sum up "bestbuy's" overall failure in one word: GREED !  All a customer is at the end of a business day to this company is a "number."  I laughed at the latest bestbuy tv commercial I viewed where the "kid" in the blue shirt is telling the female customer "we are not on commission." No, kid it is just that your very hours/job depend on how much junk you can unload on an unknowing customer. Ever wonder why when you walk into a bestbuy that "kid" in the blue shirt tries to sell you everything including their bathroom sink? Unless they changed their sales tracking format each employee must carry around a TRACKING SHEET logging each sale/all accessories sold/BB credit card attempts/reward zone joins/black tie (service plans) sold/geek squad services sold (HIGH priced pc services you do yourself @ home usually within 20 minutes./copy of each sales receipt) These forms are to be turned into a salary manager before the end of their daily shifts. The store's general manager reviews them (if he/she can read LOL.) As you get the bigger picture here those underpaid/overly pressured/poorly trained blue shirts do NOT have your best interests in mind. Oh sure on latest tv ads (propaganda) they seem to know all...try going into a BB store ask some technical question while watching them turn blue in the face LOL.
I miss the store meetings where all the sales manager (joke) was concerned with was yesterday's numbers and how to sell YOU more junk.  Here is how to take the #1 electronics retail giant and destroy it:
1- run off all higher paid employees (ala Circuit City)
2- keep all the corporate pork that dropped the ball (ala Circuit City)
3- keep upper store management who provided all those brilliant ideas led to BB's mess (haha)
4- how are those tracking sheets working out for you boyzz n girlzz...another brilliant idea LOL
5- Managers focusing on bonuses NOT the customers' needs..hmm I smell personal greed LOL
6- Employees promoted by who you knew...not what you knew...worked out great LOL
How do I know all this? : former "special"bestbuy employee  558955...look for my book about BestBuy coming soon! My former GM will love it LOL!!!!!!

Feb 10, 2013 10:52AM
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All these store closings must be what has been driving unemployment down!  
Feb 10, 2013 12:49AM
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Barnes and Noble will eventually close all stores, and only have an online presence.  Sears will die a slow-but-sure death completely.  Best Buy doesn't have enough high-end stuff (I just tried to get a 4k demo; forget it).  Businesses are like humans:  they are born, they grow, but they finally die.  It is the circle of life.
Feb 8, 2013 11:25PM
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Who is Barnes & Noble kidding?

 

Borders closed 500 stores  and their business went down at Christmas time??

 

They ran my favorite bookstore out of business 20 years ago, so I will not shed a tear.

Feb 8, 2013 10:25PM
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to Everett Draper: if your that adament about China's output-I suggest viewing a film released in 2009, titled "Last Train Home" its a documentary on sweat shop workers in China. It boogled my mind, the scenes of migrant factory workers by tens the thousands boarding trains to go home once a year is something you may only expereince via the film. It recieved 4-5 stars by reviewers, and trails the ilfe of entire family of Chinese sweat shop workers that make products for AMERICANS, jeans, toys, "Material Girl"...
Feb 9, 2013 8:42AM
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In a nutshell... all big businesses are run by the same type of person who went to the same schools and are laterally connected (glass ceiling). 99% of big businesses were compromised in 1983, and either went out of business, compressed, were acquired or borrowed their way back to life, only 1% cross-trained backroom, hired hunter-sales people and moved to where those street experts found opportunity. After surviving the cut, they hired the same boobs that ran other businesses into the ground! Essentially, no big box retailer can survive (including Wal-Mart) because the sub-economic retailers own their sales speeds. Big box stuff won't move until the little bulk buyers move it and the price has to be outrageously low. Nothing sells brick & mortar retail today without incentives. Bigger platforms making gains in the markets and not doing anything legitimate except to allow brand logo tags on knock-off goods are indeed undermining America. How convenient to have dusfunctional Congress. Bernanke is funding graft and greed to nosebleed heights (NASDAQ closed at 12-year high. Why?). They are betting on America not taking action to stop them. America isn't betting on anything. It's 100 million families running out of hope. Time is against Big Financial and Organized Corruption. Retail as we have known it in the 20th Century is gone, but demand needs supply, and the same 1% that survived 1983 had kids and students, be confident that Wall Street is a dinosaur and there will be a future once we get them gone.
Feb 8, 2013 10:43PM
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If you are going to play the "game", you had better be good at it.
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