Retailers may close 73,000 stores

Retailers may close 73,000 stores in the first half of 2009, according to the International Council of Shopping Centers. Talbots Inc. and Sears Holdings Corp. are among chains shuttering underperforming locations.

More than a dozen retailers, including Circuit City Stores Inc., Linens ‘n Things Inc., Sharper Image Corp. and Steve & Barry’s LLC, have sought bankruptcy protection this year as the credit squeeze and recession drained sales. Investors will start seeing a wide variety of chains seeking bankruptcy protection in February when they file financial reports, said Burt Flickinger.

“You’ll see department stores, specialty stores, discount stores, grocery stores, drugstores, major chains either multi- regionally or nationally go out,” Flickinger, managing director of Strategic Resource Group, a retail-industry consulting firm in New York, said today in a Bloomberg Radio interview. “There are a number that are real causes for concern.”

Sales at stores open at least a year probably dropped as much as 2 percent in November and December, the ICSC said last week, more than the previously projected 1 percent decline. That would be the largest drop since at least 1969, when the New York-based trade group started tracking data. Gap Inc. and Macy’s Inc. are among retailers that will report December results on Jan. 8.


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That is too bad...I like Steve & Barry's! Great prices and good merchandise.

http://www.nowpublic...ore-closings-us

I heard it would be about 150,000 stores in 2009. so thats not a bad number you have there.

Dillards closing (26) stores. Can't hurt the $3 stock.

http://www.costar.co...136CDE801BD4954

http://www.nowpublic...ore-closings-us

Pilgrim's Pride loses nearly $1B in fiscal 2008
Forbes, NY - Dec 11, 2008
By EMILY FREDRIX , 12.11.08, 06:28 PM EST Pilgrim's Pride Corp., which has filed for Chapter 11 bankruptcy protection, said in its annual report Thursday ...

a much needed shakeout, too. we did about 50% of our xmas shopping over the net.

a much needed shakeout, too. we did about 50% of our xmas shopping over the net.

Exactly. You own a shopping center you're on the wrong side of the future.

IT

a much needed shakeout, too. we did about 50% of our xmas shopping over the net.

Exactly. You own a shopping center you're on the wrong side of the future.

IT

With the coming CRE bailout, we will all own shopping centers

I am looking forward to it.