The fallout from the horrific holiday season for retailers has begun, with the operator of an online toy seller filing for bankruptcy protection and more stores are expected to do the same — meaning more empty storefronts and fewer brands on store shelves.
A rash of store closings, which some experts predict will be the most in 35 years, is likely to come across areas from electronics to apparel, shrinking the industry and leading to fewer niche players and suppliers.
The most dramatic pullback in consumer spending in decades could transform the retail landscape, as thousands of stores and whole malls close down. And analysts expect prolonged woes in the industry as the dramatic changes in shopping behavior could linger for another two or three years amid worries about the deteriorating economy and rising layoffs.
"You are going to see a substantial retrenchment in the retail industry," said Rick Chesley, partner in the global bankruptcy and restructuring group at international law firm Paul Hastings. "The downturn has been catastrophic."
Where are all the deals that these places should be having?
No, it's bad out there. It's real bad. We were told today that our company will be realigning tomorrow, less than twenty-four hours notice. Which insinuates to me that they're preparing for store closings within the next six months.
No, it's bad out there. It's real bad. We were told today that our company will be realigning tomorrow, less than twenty-four hours notice. Which insinuates to me that they're preparing for store closings within the next six months.
TOLD you to get out of retail. smh.
No, it's bad out there. It's real bad. We were told today that our company will be realigning tomorrow, less than twenty-four hours notice. Which insinuates to me that they're preparing for store closings within the next six months.
TOLD you to get out of retail. smh.
And go where? At the rate things are going, I don't think there are many fields that are safe. I'm hoping the holiday bomba is the last lurch of the humungadungas as far as immediate disasters go. Like, I hope there will be some measure of stabilization, at least for a few months.
Well, actually, the fruition of the holiday disaster will be when people start releasing specific numbers in January. The damage may already be done now, but the media will shit doom and gloom all over the place and make it seem like the country is doomed. So this is really the disaster anxiety before the impending disaster.
Well, actually, the fruition of the holiday disaster will be when people start releasing specific numbers in January. The damage may already be done now, but the media will shit doom and gloom all over the place and make it seem like the country is doomed. So this is really the disaster anxiety before the impending disaster.
My aunt was still saying last week that the doom and gloom was bullshit, the media is inventing the crisis, and that sales being down 2% is no big deal and happens all the time.
My dad said the same thing when I was over in the UK.
I went shopping after Christmas and all the clothes stores were having "Everything 50% or less" sales. It was ridiculous. Zavvi, previously known as Virgin, also went into administration while I was over there. The UK is going to be a huge mess next year.
Yea it sucks. Wait until all these lack of tax revenues start to hit the government for multiple quarters. They will have to bleed some jobs. Just waves and waves of shit.
Don't all flood Canada at once.
Don't all flood Canada at once.
Why would we go to Canada? You'd just have your Boogies escort us out of your country, what with us all carrying pistols and gambling gear.
GOD DAMNIT THE CANADIAN HERITAGE COMMERCIALS WORKED.
I remember that one, the Marshal McLuhan one, the uh, underground railroad one, the basketball one, and one with orphans or something.
Don't all flood Canada at once.
Why would we go to Canada? You'd just have your Boogies escort us out of your country, what with us all carrying pistols and gambling gear.
Are there any more requirements to becoming a Canadian citizen other than knowing the facts about these heritage commercials? Do I have to watch Corner Gas or anything? Because I'll take 2G2D over that.You have to listen to Rush's discography, read all of Margaret Atwood's books, and eat a bucket of poutine.
During my cab ride to the airport last week, the cabbie--growing tired of the Indian music he had on--changed the station to some blowhard, right-wing talk show. The show's host claimed that the current economic crisis was caused by the media's negativity, or, at the very least, worsened by it.
During my cab ride to the airport last week, the cabbie--growing tired of the Indian music he had on--changed the station to some blowhard, right-wing talk show. The show's host claimed that the current economic crisis was caused by the media's negativity, or, at the very least, worsened by it.
Actually, I think there's some truth to that.
During my cab ride to the airport last week, the cabbie--growing tired of the Indian music he had on--changed the station to some blowhard, right-wing talk show. The show's host claimed that the current economic crisis was caused by the media's negativity, or, at the very least, worsened by it.
Actually, I think there's some truth to that.
Yeah, I think the media worsening it bit is true to a certain extent. Like, when those bad exact sales numbers hit in January, the newspapers and radio stations and tv shows will all be trying their hardest to come up with the most ludicrous and eye catching doomsday headline. Rather than trying to present things in a rational and formal manner, they will be selling caricatures to the masses, and they might make decisions based off such garbage. But no, as shitty as the media is, they did not cause this.