Friday, December 11, 2009, 9:21AM ET - U.S. Markets open in 9 mins..
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:
Plus, earlier we discussed:
If you rearrange the letters in Retail Closings you can spell Soiling Cartels.. ha ha
Goody's already closed in my town. Got some great deals though: everything I got was 60% to 70% off. Once greenhouses and guns to go on sale, I'll be set for the rest of the depression. Thanks Bush! Thanks Obama! Way to screw the pooch!
we all know its bad...we can all see and feel it....thanks in part to those who bought bigger more expensive houses then they ahould have...you make 45k a year and your house payment is 37k a year? come on now...so lets quit talking about it...i think that will be a be help on changing it ...im not saying lets paint a rosy picture...just quit talking about all the negative things...and lets see what happens...WHOS WITH ME?
The world doesn't need luxury retail stores as much as it needs basic goods and services. Americans don't need to be encouraged to purchase non-essential items.
bye bye stores...maybe now NJ traffic will ease down to only 3 hour delays.
I'll miss shopping at Tiffany's...
I'm almost looking forward to this. Maybe my wife will finally stop buying all that crap we don't need.
I bet rightwingers are still convinced that the ultimate culture of greed - their interpretation of "free market" - is a progressive economic model... what a dumb bunch!
LOL... Ebay is gonna light up like a christmas tree this year... If there is something you think you need now, wait until about mid year when Ebay has it for 90% off of retail price...
I'm not buyin nothin cept food & water....and whiskey.
I bet rightwingers are still convinced that the ultimate culture of greed - their interpretation of "free market" - is a progressive economic model... what a dumb bunch!
The timing is really bad.... When we have lemons, make lemonade~~
I'm going to buy GE at $5.00.
New York area is an exception - you can't even find a parking spot at the big Palisades Mall in Rockland County and the Riverside and Garden State Plaza malls in Paramus, NJ, and Macys and ToysRus are so busy there are taffic jams in the aisles. You wait 2 hours for a seat at Cheesecake Factory and Houstons and the other chain restaurants. I think people are spending their last money before they get laid off and the Great Depression Version 2.0 sets in.
Great Deliveraging due to credit bubble that is now busted. Where is the next bailout? Bank, Auto, Housing and now Malls?
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Yahoo! Finance User - Thursday February 19, 2009 12:05PM EST
Less is more!