Retailers CLOSING in 2019!

the shopping landscape has changed in the recent decade the retail apocalypse began in 2010 and since then many North American retail stores have struggled to stay above water over 12,000 physical stores are gone here are some of the companies that couldn't survive the catastrophe number 23 Victoria's Secret with all of their fashion shows aired on TV and their famous models nobody would have guessed this lingerie store would close while Victoria's Secret isnt disappearing entirely they did announce they were closing 53 stores this year in any given city you'll find at least five Victoria's Secret shops but 53 is three times the number of stores that shut down in a typical year it may be hard to believe that with all the skin that's shown on Instagram post nowadays but analysts say women are opting for more comfortable underwear than the skimpy lace items sold at Victoria's Secret number 22 JC Penney it's not news that JC Penney has gone through difficult times in recent years JC Penney was founded in the early 20th century so it's sad to see such a classic company go in 2017 the company closed 139 stores even with the continuing decline in sales every month even with a continuing decline in sales every month JC P saw the closing of the stores not as a slow goodbye but as a way to better evaluate what's happening JC Penney's CEO Jill sau2 is convinced the company will see profit again number 21 Kmart this year Kmart closed 48 stores once part of the big three discount retailers alongside Walmart and Target Kmart era is coming to a close in the past ten years Kmart stores have closed in rapid succession last year over 150 Kmart stores closed if we rewind to 20 years ago over 2200 K Mart's existed today less than 400 stores remain kiemce owners owned by the same company that owned Sears a department store facing its own problems right now more on that later number 20 Francesca's fast fashion retail store Francesca's is for the more girly and conservative young woman in the world fast fashion retail store Francesca's is for the more girly and conservative young women in the world inside you'll find clothes accessories and even cute little gifts for your best friends there's a Francesca's in most malls but perhaps not for long sell percentages have fallen by double digits as of late this year management has reported that they would close 30 to 40 stores and as many as 120 in upcoming years number 19 Target the store everyone ends up spending more money than they planned target may have a hold on its loyal shoppers but even this major discount retailer has its troubles earlier this year target announced they would be closing six stores by February 2019 it's a small number compared to the other companies on this list but it is surprising because you wouldn't think target would be suffering any losses even with some of the shutdown properties target plans to open 20 new locations this year number eighteen Sears it looks like Sears Holdings needs a new gameplan last year Sears had 766 stores this year as many as 241 Sears department stores my end operations this year whatever retail magic companies like Sears and JCPenney had 100 years ago they don't have it anymore in 2018 Sears Holdings declared bankruptcy Chairman Eddie Lampert offered a 5.3 billion buyout bid enough money to keep 400 of their most profitable locations going number 17 Gymboree some of you may not have been to Gymboree since you were an infant others may be going there again now that they have kids however the number of people actively shopping at this clothing store has significantly decreased Gymboree declared bankruptcy two months ago leading to 800 stores shutting down even though the company reduced its debt from 1.4 billion down to five hundred million in 2017 it wasn't enough to save the majority of their establishments number 16 Starbucks within one block of a major city you could pass by two or three Starbucks cafes on a typical year Starbucks closes around 50 stores now that amount has tripled every year this brand seems to create viral news for itself with its seasonal drinks and cup controversies so what gives how come they're closing 150 coffee shops Starbucks says they are just weeding out the weaker locations to save money and open new shops in places that don't have any or as many Starbucks's yes number 15 polls in January an SEC filing for coals revealed that the company was closing four stores this year all these stores are either located within or close to a mall and Kohl's believes their shoppers prefer their strip shopping centers locations even with this handful of failing stores the department store chain is going strong and is one of the few brands suffering the least from the retail apocalypse number fourteen GNC GNC owns over 8,000 locations worldwide with 3,000 of those in the US now they plan to shut down 200 of them in the next two years they're planning 500 to 700 more closures the vitamin shop chain is now moving its sales online to save money on the leases of their physical store locations though they earned 580 point 2 million in revenue last quarter they also had a net loss of 8.6 million number 13 Lord & Taylor Hudson's Bay which is also the parent company of Saks Fifth Avenue now owns the Lord & Taylor department store chain Hudson's Bay said they are going to close ten stores in 2019 which includes its flagship store in New York's famous shopping area on Fifth Avenue that location has been around for over a century but was sold to we work for 850 million dollars with less physical stores Lord & Taylor teamed up with Walmart to augment their online sales number 12 Henry Bendel another high-end apparel store on Fifth Avenue going out of business is Henry Bendel this upscale brand has been around for 123 years in 2018 they only earned revenue of twelve point six billion dollars the stocks were down 55 percent making it one of the worst performing companies according to the American stock market index SMP 500 number eleven shop Co Wisconsin based real change shop Co was founded in 1962 in January of 2019 shop Co filed for chapter 11 bankruptcy this filing allowed the company to reorganize amid bankruptcy shop Co shut down two-thirds of its locations in the West Pacific Northwest and mid west while shop Co made a name for itself by going into smaller markets where more larger corporations were not present however Amazon has taken over the market and it's been downhill for Shopko cents number 10 Lowe's there's much more competition for department stores clothing companies and restaurants but even the home improvement industry is seeing a dwindling and profits just look at Lowe's according to its third quarter earnings report Lowe's is closing 20 of its on performing stores in the United States they're also closing 31 stores in Canada with 51 locations gone flow still owns over two thousand more sites so all is not lost many of the Lowe's nearly closed units are within a 10-mile radius of another Lowe's anyway newly appointed CEO Marvin Ellison explained that they're downsizing is sorry to create a stronger business number-9 Family Dollar in 2015 family tree bought the Family Dollar chain for 8.5 million dollars last year Dollar Tree already axed 120 locations as of now 390 more Family Dollar locations will close and 200 more will be converted into Dollar Tree stores the thousand remaining stores are scheduled for renovations and will include alcohol sections and Dollar Tree merchandise some people believe that Dollar Tree should have never bought Family Dollar because the two companies were too different however if Dollar Tree earned nearly 22 billion dollars last year so maybe something's going right number 8 the children's place where our parents of small children going to buy clothes now that Jim Berry and the children's place are going on a business the retailer plans to close 300 stores by 2020 so far they have about 100 more to go before they reach that goal currently they have 988 locations though they began their downsizing initiative back in 2013 luckily the children's place isn't in deep water when it comes to losing sales if anything their sales are steady but they still want to cut costs to remain profitable number 7 Chico's Chico's used to rule the market when it came to selling close to the middle-aged woman Chico's also owned similar brands like soma and White House Black Market which have also seen a decrease in sales at the start of January 2019 chico said that we're closing 250 stores in the next three years they explained they wanted to have a more prominent presence online and do away with the more outdated aspects of the brand number six j.crew preppy fashions have seen a dip in popularity in the last decade if you look back to the 2000s a preppy clothing brand like j.crew was at the top of the profit charts now not so much j.crew has closed six clothing stores throughout the US for 2019 that doesn't seem like a huge loss but they already shuttered fifty stores last year J Cruz CEO Jim Brett stepped down in 2018 and now for new executives are trying to lead j.crew back to the top at least the j.crew owned brand made well is still trending number five a sina retail group a senior retail group owns brands like lane bryant and taylor and justice these places adhere to different demographics of females yet escena can't seem to make their businesses work as well as they want they own almost 5,000 apparel stores in the US making it one of the most spread out companies on list in 2017 the retail group planned to close up to 667 stores for the next two years as of now escena closed 31 stores and is on the track to close more number for Charlotte Russe Charlotte Russe is like forever 21 but not as well received this fast fashion chain was founded in the 70s as of March they will liquidate all of their stores earlier this year Charlotte Russe filed for bankruptcy and only wanted to close 94 of its 512 stores their strategy was to use bankruptcy as a way to eliminate their debts and help another company would buy them and stay in business however liquidating company SB 360 Capital Partners won Charlotte Russe in a bankruptcy court auction for 160 million and prompt for the company to shut down number three gap remember the days when shopping at Gap was all the rage however the youth is now opting for more affordable on-trend stores like H&M and forever 21 the gap is closing their stores little by little and in the next two years have the intent to close up to 230 its third quarter earnings report showed profits declining at 7 percent On January 20th 2009 teen they shuttered their New York flagship store number-two Payless Shoe Source palest served as a supplier of trendy footwear that was reasonably priced they were famous for their BOGO buy one get one deals which allowed you to bring home two pairs of shoes for the price of one or one and a half we must bid pay less goodbye since they could not complete with cheaper online stores in the past couple of years pay less has gradually been shutting down stores in February they said that we're going to close the two thousand one hundred stores remaining locations in the US and Puerto Rico before we tell you number one we have a question what's your favorite store if you heard that they were shutting down how much would you be willing to spend on their last items let us know in the comments below number one Macy's if there's one quitte central american department store it has to be Macy's whilst with this company hosted Thanksgiving Parade every year let's see how things are looking for them in August 2016 Macy's announced they were closing 100 of its 728 stores throughout the next few years for a long time Macy's earnings were falling in 2018 80 of those 100 stores were closed fortunately for Macy's they made some progress this past holiday season though it was not near what their previous success reached for 2019 they confirmed eight store closures whether or not Macy's will have a complete shutdown like paleis is still up in the air thank you for watching if you like this video give it a thumbs up for more subscribe to our channel and turn on that Bell notification [Music]

Channel: Talltanic

Views: 1,097,245

Rating: 4.501513 out of 5

Keywords: Talltanic, economic collapse, retail, sears, gap, stock market, store closures, retail apocalypse, stores closing, 2019, popular, brands, clothing stores, closing down, liquidation, closures, bankruptcy, popular brands, shutting down, disappearing, popular stores, shopping, charlotte russe, starbucks, payless, lowe's, mass store closures, gymboree

Id: 5gyP0ZKCplw

Length: 11min 16sec (676 seconds)

Published: Sat Mar 16 2019