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Thread: The department store thread

  1. #81
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    Santa Claus snorts "quality, Grade A, Colombian snow," said the ad copy. Boy, what a way to shatter the beliefs of little children at Christmastime!

    Walmart Canada pulls Christmas sweaters featuring Santa with cocaine

    https://globalnews.ca/news/6267927/w...aters-cocaine/

  2. #82
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    Sears, Kmart, JCPenney, Kohl's, Macy's and Victoria's Secret continue to see declines in sales. The demise of Sears and Kmart has long been expected and now some analysts are beginning to think JCPenney will eventually go out of business. Fifty years there were more than 2,000 JCPenney stores. Now there are only 865.

    America has turned its back on big department stores

    https://www.cnn.com/2020/01/09/busin...res/index.html

  3. #83
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    Ten years ago, there were 1,106 JCPenney stores. This year, the number will drop to 840. Ten years ago, Sears had more than 3,500 stores; now there are only 540. At its peak in 1994, Kmart operated 2,486 stores; now there are fewer than 100. And of course the number of Mervyns, Montgomery Ward, Kinney Shoes, Thom McAn, Gottschalks, Gymboree, Gimbels, May Co., Linens 'n' Things, American Apparel, Fashion Bug, Payless Shoes and Circuit City stores still in business is zero.

    JCPenney to close six stores and a call center

    https://www.dallasnews.com/business/...a-call-center/

  4. #84
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    The Sears in North Hollywood will close on February 2 and the Sears in Glendale will close on March 15. There is also a Sears in Los Angeles that is closing.

  5. #85
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    That Sears store in Glendale looks the same as it did in the 1970s. Very few young people shop there. It's outdated and old-fashioned. It's also the city's ugliest building, a huge rectangular monstrosity with no windows. I won't miss it. Macy's is doing better than Sears – but not by much:

    Macy's to close 125 stores, cut 2,000 corporate jobs

    https://www.cnbc.com/2020/02/04/macy...rate-jobs.html

  6. #86
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    In the 1986 movie The Money Pit, a remake of the 1948 film Mr. Blandings Builds His Dream House, a husband and wife spend a fortune trying to renovate a mansion that keeps falling apart. Eddie Lampert and hedge fund managers continuing to provide hundreds of millions of dollars in financing to keep Sears from going out of business is pretty much the same concept. The only real difference is that, in each movie, a new house was constructed. Sears is slowly dying.

    Sears snags a new $100 million financial lifeline as losses continue

    https://www.reuters.com/article/us-s...-idUSKBN20E2RC

  7. #87
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    James Cash Penney opened his first store in 1902 in Kemmerer, Wyoming. In 1970, there were more than 2,000 JCPenney stores. By the end of next year, there will be fewer than 600.

    JCPenney is doing even worse than we thought
    CNN, Jun 30 2020 12:17 PM

    JCPenney's financial situation in the months leading up to its May 15 bankruptcy filing was much worse than originally thought. The company today reported an operating loss of $477 million in the three months ending May 2. That's much larger than the $93 million operating loss in the same period a year earlier and 40% more than the company warned investors it expected to report just three weeks ago, when it released preliminary results. The company expects to stay in business but its ability to survive the bankruptcy process partly depends on whether it can limit losses and conserve cash.

    https://www.cnn.com/2020/06/30/busin...tcy/index.html

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