Store closures

[Ausmumof3]

What are you seeing local to you ?

https://7news.com.au/lifestyle/target/target-stores-closing-wesfarmers-confirm-major-shakeup-to-kmart-and-target-store-networks-c-1052925.amp?__twitter_impression=true

This is happening here.  This is another example of a change that was on the cards being accelerated/forced by the virus.  Retail stores have been open here and I went into target recently to buy hair clippers.  Store was completely empty.  It was like walking through a warehouse or something.  When my kids were young they were the better store but Kmart rebranded very successfully a few years ago.

hopefully they manage to retain staff while rebranding stores.  They already moved all checkouts to self check recently 3 staff monitoring 16 self check machines so imagine they already cut jobs.

[Arcadia]

Target stores nearby are practically deserted. They don’t sell much grocery items and they aren’t cheaper than typical supermarkets. We started shelter in place in springtime and now it is getting hotter. So clothing shopping aren’t really needed yet.  My kids just bought a few more Nike T-shirts online for summer.

Retail has been announcing permanent closures and/or bankruptcies 

May 8th https://www.usatoday.com/story/money/2020/05/08/store-closings-chapter-11-bankruptcy-coronavirus-covid-19/3090235001/

Today https://www.usatoday.com/story/money/2020/05/20/victoria-secret-store-closings-2020-bath-body-works-coronavirus/5231836002/

“Victoria’s Secret plans to permanently close approximately 250 stores in the U.S. and Canada in 2020, its parent company L Brands announced Wednesday.

L Brands also plans to permanently close 50 Bath & Body Works stores in the U.S. and one in Canada, according to information the company posted online as part of its quarterly earnings.

L Brands' total company sales declined 37% in the quarter that ended May 2. Almost all of the company’s stores have been closed since March 17 due to the COVID-19 pandemic. 

The news comes a day after Pier 1 Imports announced plans to shutter all its remaining stores and two days after J.C. Penney unveiled it will close 242 stores as part of its bankruptcy.”

[Ailaena]

That’s interesting because our Target stores are hopping (except for late at night).   I don’t buy much there - no food or clothing, really - but I drive by one on my way home and it’s always full.  I’m assuming it’s the same with Walmart here   

We have no KMart’s here, I thought they all closed down!  I had to look at the date to see if this was a zombie thread 😛

[Wheres Toto]

Targets and Walmarts are both very busy around here.    KMart's all closed down quite a while ago.  

[rebcoola]

Target is super busy here and everyone loves it.  Back when my kids were younger they and a lot of kids went on Friday to school for their fun workshops and it seemed like all the moms went to target.  Ours sell some groceries but are not super targets.  

[HSmomof2]

Target is very popular here and busy as well. KMarts all closed here quite a few years ago. 

[Jean in Newcastle]

KMarts here shut down a number of years ago.
 

Like Plum said, the larger retailers going under were already having major problems. I think that while COVID19 might have been the final straw for these stores, it was just hurrying up the inevitable.  
 

It’s the smaller businesses that were more specifically impacted by the shutdowns, in my opinion. That’s what some of the stimulus bills were for but it doesn’t seem like many of these businesses are getting the aid they need. 

Edited May 22, 2020 by Jean in Newcastle
Forgot a word

[Ausmumof3]

54 minutes ago, Plum said:

AFAIK Target and KMart are not owned by the same company. Target is owned by Dayton Hudson and KMart is owned by Sears. I don’t know what the setup is over there but the article makes it sound like an either/or situation. Target is preferred over KMart here. 

Here they are both owned by Wesfarmers 

so even though they have the same name I’m not sure if they are the same company in Aus as the US.  

 

[Arcadia]

Apparently there are 8 Kmart store left in California https://www.kmart.com/stores/california.html

https://www.businessinsider.com/australian-kmart-department-store-chain-wesfarmers-2019-10

”

• There is a popular retail chain in Australia called Kmart, and it's unrelated to the American company of the same name.
• Despite having the same name and similar branding, the two stores have nothing to do with each other.

”
https://www.businessinsider.com/australian-target-us-target-which-is-better-2019-9

“Few Americans, however, know that this retail chain has a doppelganger in the land Down Under. An Australian chain called Target touts the same name and a similar slogan and red bulls-eye logo as its American counterpart, yet the two are owned by two completely different companies, according to Minnesota's Star Tribune.

While the two stores have numerous similarities, there is "no relationship" between them, a Target spokesperson told the Star Tribune. The 300 Targets in Australia, the first of which opened in 1926, are owned by Australian conglomerate Wesfarmers Limited. Meanwhile, the American stores with the same name are owned by the Minnesota-based Target Corporation.“

 

[KatieJ]

There is only one KMart left in Michigan.  Closed locally several years ago.  Target parking lots are packed, but then, not much else is open.

Today the Governor said retail can open up next week, but you have to make an appointment, and only 10 people in a store at a time.

Really?  How do you make an appointment to go to JoAnn Fabric, or Michaels, or Kohls, etc.  It is just getting wierder here folks.

[Ausmumof3]

7 minutes ago, KatieinMich said:

There is only one KMart left in Michigan.  Closed locally several years ago.  Target parking lots are packed, but then, not much else is open.

Today the Governor said retail can open up next week, but you have to make an appointment, and only 10 people in a store at a time.

Really?  How do you make an appointment to go to JoAnn Fabric, or Michaels, or Kohls, etc.  It is just getting wierder here folks.

That seems odd.  Here the big stores have a person with a clicker at the entrance and once they hit a certain number you have to wait.  I guess the booking scenario avoids queues outside the store though.  Cafes are having trouble where you have to book and they can only host ten people and then people are booking and not showing up.  I can see it becoming a scenario where you have to make a deposit on a cafe booking.

[KatieJ]

1 minute ago, Ausmumof3 said:

That seems odd.  Here the big stores have a person with a clicker at the entrance and once they hit a certain number you have to wait.  I guess the booking scenario avoids queues outside the store though.  Cafes are having trouble where you have to book and they can only host ten people and then people are booking and not showing up.  I can see it becoming a scenario where you have to make a deposit on a cafe booking.

Restaurants here are not open except for drive thru or pick up /take out orders.  Well, that's not true, Northern Michigan and Upper Pennisula of Michigan opens up tomorrow.  But they only had 4 days notice they were going to be allowed to open, so I suspect many are not able to get their kitchen stocked in time.

[Ausmumof3]

4 hours ago, KatieinMich said:

Restaurants here are not open except for drive thru or pick up /take out orders.  Well, that's not true, Northern Michigan and Upper Pennisula of Michigan opens up tomorrow.  But they only had 4 days notice they were going to be allowed to open, so I suspect many are not able to get their kitchen stocked in time.

Yes that has just happened here as part of phase two?  Or one of reopening I keep forgetting where we are at.  Pubs will be able to open in the next round.

[Arcadia]

@Patty Joanna

Neiman Marcus has filed for chapter 11.

Nordstrom is closing stores 

https://www.businessinsider.com/nordstrom-will-close-16-stores-list-2020-5

“Nordstrom announced this week that it will permanently close three Jeffrey designer apparel stores, in addition to the 16 full-line department stores that it plans to shut down. 

Nordstrom has 378 locations in total: 116 full-line stores, 247 discount Nordstrom Rack stores, three Jeffrey boutiques, two clearance stores, five Trunk Club clubhouses, and five Nordstrom Local service hubs.

Nordstrom will also shut down all three Jeffrey boutiques, which sell luxury designer apparel. The addresses of the closing stores include:

• 650 A Stanford Shopping Center, Palo Alto, California
• 3500 Peachtree Road N.E., Atlanta, Georgia
• 449 West 14th Street, New York, New York

Nordstrom is also cutting 16 full-line locations, which are the multifloor department stores that carry its entire assortment of products.

The closures represent about 14% of Nordstrom's full-line fleet.

The company previously confirmed to Business Insider that the following full-line department stores are closing. 

• Chandler Fashion Center, 3199 W. Chandler Blvd., Chandler, Arizona
• Arden Fair Mall, 1651 Arden Way, Sacramento, California
• Paseo Nuevo, 17 W Canon Perdido St., Santa Barbara, California
• Montclair Place, 5015 N. Montclair Plaza Ln., Montclair, California
• Westfield North County, 270 E Via Rancho Pkwy, Escondido, California
• 3601 The Galleria at Tyler, Riverside, California
• Stoneridge Shopping Center, 1600 Stoneridge Mall Rd., Pleasanton, California
• FlatIron Crossing, 21 W. Flatiron Crossing Dr, Broomfield, Colorado
• Waterside Shops, 5489 Tamiami Trail N., Naples, Florida
• Dadeland Mall, 7239 N. Kendall Dr., Miami, Florida
• 1800 Annapolis Mall, Annapolis, Maryland
• Freehold Raceway Mall, 3710 U.S. Highway 9, Freehold, New Jersey
• Clackamas Town Center, SE 85th Ave., Happy Valley, Oregon
• North East Mall, 1101 Melbourne Rd, Hurst, Texas
• Short Pump Town Center, 11812 W. Broad St., Richmond, Virginia
• 4000 The Mall of San Juan Blvd., San Juan, Puerto Rico”

 

[Arcadia]

https://www.businessinsider.com/hertz-filing-for-bankruptcy-as-early-as-this-weekend-report-2020-5
“

• Hertz filed for bankruptcy Friday night after failing to reach an agreement with lenders, The Wall Street Journal first reported Friday.
• Hertz has around $19 billion in debt, including $4.3 billion in corporate bonds and loans as well as $14.4 billion of debt backed by their vehicles, according to The Journal.
• The car-rental business has been decimated as the pandemic has ground travel to a halt, forcing Hertz's CEO to resign as the company missed lease payments and laid off 10,000 workers last month.
• Hertz's stock plunged in after-hours trading following the news.”

 

[Ausmumof3]

3 minutes ago, Arcadia said:

https://www.businessinsider.com/hertz-filing-for-bankruptcy-as-early-as-this-weekend-report-2020-5
“

• Hertz filed for bankruptcy Friday night after failing to reach an agreement with lenders, The Wall Street Journal first reported Friday.
• Hertz has around $19 billion in debt, including $4.3 billion in corporate bonds and loans as well as $14.4 billion of debt backed by their vehicles, according to The Journal.
• The car-rental business has been decimated as the pandemic has ground travel to a halt, forcing Hertz's CEO to resign as the company missed lease payments and laid off 10,000 workers last month.
• Hertz's stock plunged in after-hours trading following the news.”

 

😳

[Ausmumof3]

Seems like the pattern is at this point retail was already struggling and this is going to be the last straw for many.  Travel tourism and hospitality even those who were doing well previously are being hit really hard.