Get Ready for Mass Retail Closings

From Tech Ticker:

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:

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Nordstrom
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Neiman Marcus
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Tiffany
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Jeweler Zale Corp.
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Saks
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J.C. Penney
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Sears

See full story HERE

Panasonic orders staff to buy £1,000 in products

Leo Lewis, Asia Business Correspondent

Its electronic gadgetry is gathering dust on the shelves of high street stores, nobody is buying new fridges and the mountain of unsold plasma televisions is growing by the day.

However, in desperation, Panasonic has hit on the perfect counter-attack against the consumer slump: it has ordered every member of staff to go out and buy £1,000 of Panasonic products.

Large swathes of corporate Japan are expected to follow suit, either by directly commanding or indirectly “pressuring” employees to divert part of their salaries towards the goods that their employers produce.

Toyota has already tacitly applauded a “voluntary” scheme in which 2,200 of its top brass decided to buy new Toyota cars, and the president of Fujitsu recently e-mailed 100,000 staff and gently pointed out how nice it would be if “employee ownership rates” of Fujitsu PCs and mobile phones were a little higher. From The Times Online HERE

US Shoplifting up 84%!

More and more Americans are choosing (or being forced) to use the “5 finger discount ” at shops bringing an 84% increase in amateur theft. “There has been an inverse relationship between this increase in shoplifting and the economy and as the economy has gone down shoplifting has increased.” said Casey Chroust, senior vice president of retail operations for the Retail Leaders Industry Association.Shoppers strapped for cash help themselves

Microsoft to announce mass layoffs

Well on top of their rather embarrassing Zune problems this past week, it looks like Microsoft will be one of the first giants to announce massive layoffs in the new year, about 10% of its work force. Its not a official yet but any moment now…Microsoft Cuts

440 Retail Chains to close in the first 4 months of 2009

Nearly 26 retailers will collapse every week in the first four months of the year, a leading retail analyst has predicted. Add in the affected their suppliers, manufacturers and service providers and there is no doubt we will all be feeling the effects. 440 chains to go bust

73,000 US stores to close in the first half of 2009

U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years. Up to 73,000 stores in the first half of 2009, according to the International Council of Shopping Centers and Talbots Inc. and Sears Holdings Corp. are among the chains shuttering that will be shuttering. Again I think these are really conservative numbers, and things could be twice as bad. Holiday Sales Drop to Force Bankruptcies, Closings

660.000 jobs to be slashed in England

According to forecasts published today, more than 660,000 additional jobs will be axed in England in the coming 12 months, making 2009 the worst year for job losses in over two decades. I believe that things may be much worse, maybe double that and maybe in the next 6 months. Look for the cuts to start happening in the retail sector in the next few days. Yes, Woolworths was only the beginning…British jobs expected to disappear in downturn

Post Christmas sales a bust

Well, at least in the states, the post Christmas sales are just more Christmas blues for retailers. Shoppers are saying no to even 70% off. One reason I think shoppers may not be that excited is that retailers already went as low as they could go before Christmas. More here :Post-Christmas Sales May Not Help Retailers Salvage Holidays Email | Print | A A A

10 things that won’t survive the Recession

Over at InfoWorld, some predictions that mirror my own as far as what awaits The USA next year: Many if not most shopping malls, book stores, CD and Video stores GONE. 1/2 or more of all Silicon Vally companies GONE. And much more,..check it out10 things that won\'t survive

Many retaliers will fall soon.

I predict that in the US you will begin to see many major retailers and chains close for good within the next few weeks, if not the next few days. The same for Europe, although England will be hit the worst. Expect 20 to 35% of the mom and pop establishments the shut their doors as well. With 50 to 90% price BEFORE Christmas and and traffic in the stores down at least 20 or more percent, trouble is brewing. Visits to U.S. Retailers Fell 24% on Weekend Before Christmas

Shoplifting on the Rise

I have seen this personally at the supermarkets and shops here. It seems like almost every time I am shopping I see someone get caught, or someone stealing. And it seems like the theft of item such as food, baby supplies etc are on the increase as the economy stumbles. Shoplifting on the rise as economy stumbles

10 Retail Chains to close after Christmas?

More than 10 national or regional retail chains in England risk going bust next month, insolvency experts warn. I believe though that within the next 3 months we will see the closure of 1/3 of all retail shops10 Chains face closure