• filter:

Ann Taylor, Dress Barn, Loft, Lane Bryant: Store closures on the way

  • Page :
  • 1
  • Text Only
  • Search this Topic »

Member Summary
Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

Boy I sure am "Tired of winning".

You mean in the sense that more efficient operators are driving the less efficient out of business? That what you mean Kingdoodler88? Because that's what's happening, internet retail is finally killing off the weakest brick/mortar stores in the normal process of capitalism. But sure, lets blame the current (four month old) administration.

The luxury brands are going down, too. Michael Kors is closing at least 250 stores (possibly up to 400): https://www.fatwallet.com/blog/more-store-closings-2017

Not to mention Hudson's Bay cutting 2k jobs, bebe going online-only, and BCBG filing for bankruptcy.

Soooo many B&M closings over the past 5 years! I've always thought is was odd that merchants' websites operate so independently from their retail stores. In my mind, it seems only fair to give the B&M a cut of the profits since an on line sale takes money out of the B&M's pockets... and they're all the same company. I may not shop at the mall much, but I appreciate the convenience of being able to return something in store, or change sizes or colors etc., when needed and find this all sad.

With the more recent options of getting cash back on local in store purchases, I have been going to stores a bit more, but relatively few stores are doing this. If the problem is people buying online instead of in store, then these stores need to offer better "real" deals and bring operating costs down like negotiating better leases (if they all vacate/go out of business, landlords have to realistically bring prices down). It's like everyone is trying to hold on to maximum profits instead of recognizing the need to change with the times or become obsolete (like music companies/stores and cable/satellite companies) and both use creative solutions and accept thinner margins. If online sales are flagging too, they need to look at quality: I'm tired of so may previously gold standard brands diluting their product quality to increase profits... like this disposable clothing trend in recent years resulting in things like color fading, unraveling seams, rips, and clothing that falls apart after a few washes. It's sad but, IMHO, they only have themselves to blame.

Fast fashion is SUPER killing the apparel industry's mainstays right now. Zara, Forever21, H&M, all those brands are outperforming brands like Ann Taylor because they're cheaper, have a higher variety of options, and focus most of their efforts on online sales. And mall rent/leases are absolutely becoming a huge problem for these stores. I think showroom stores with e-sales kiosks need to become the norm, so people can still try on their clothes/try the tech/products and then just order the one they want in their size/color/make/model/whatever on a tablet in the store with the help of a robot salesperson (because, for the most part, AI and robotics can fulfill the job of a retail sales floor employee, which sucks for people who need jobs; and this is from someone who used to work for Best Buy).

I think you definitely nailed it with the maximum profits thing, too. Sears is the only major company I've seen who recently laid off execs. Macy's gave theirs raises and bonuses. Not a good look, y'all.

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
    Click here for full-featured reply.

Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017