retail death watch

[goldbrick]

I'm sad to see Fry's go but the electronic parts do seem like the kind of thing that perfectly fits the on-line order model. There is a huge variety parts to stock and very few people will probably buy parts on 'impulse'. The market is widely dispersed the product is usually small and easy to ship. Fry's was always a destination stop when I was in the Bay Area on business way back when. But even 10 years ago it seemed that the electronics hobbyist seemed to becoming a thing of the past. Now with Arduinos everything and so much info on-line I don't see how a store like Fry's has much of a place anymore.

 

[DaveinOlyWA]

I'm sad to see Fry's go but the electronic parts do seem like the kind of thing that perfectly fits the on-line order model. There is a huge variety parts to stock and very few people will probably buy parts on 'impulse'. The market is widely dispersed the product is usually small and easy to ship. Fry's was always a destination stop when I was in the Bay Area on business way back when. But even 10 years ago it seemed that the electronics hobbyist seemed to becoming a thing of the past. Now with Arduinos everything and so much info on-line I don't see how a store like Fry's has much of a place anymore.

Agreed. I am surprised they lasted as long as they did. If only we had realized that there were approximately 15 million books in active circulation but no single library stocked more than 600,000 of them (yes, there were libraries with larger title counts but most of those books didn't qualify as "actively" doing much of anything but collecting dust) like "some" people you might have heard of...

Using this same model, I see several other stores leaving as well. There is still the discount model where stores stock a TON of stuff with minimal (or seasonal) variety coercing sales with attractive pricing but I am seeing a turn in the retail sector that actually started when I was still in the auditing biz.

So who is next?

Walmart superstores are nearly half empty but they are positioned well to transition to online sales and local delivery so they will survive as will Best Buy, so...

I had to elect Old Navy. I am a bit surprised they still exist TBH...

 

[cwerdna]

Walmart superstores are nearly half empty but they are positioned well to transition to online sales and local delivery so they will survive as will Best Buy, so...

On Best Buy was this recent news:
Best Buy just laid off 5,000 workers and will close more stores
https://www.cnn.com/2021/02/25/business/best-buy-store-closures-workers/index.html

As for Walmart, I haven't been going much lately but they still seem busy enough. I tend to go stores late at night to avoid the crowds, for both COVID and to avoid wasting time a checkout and leaving the store. The Walmart closest to home can have a very long line or cars to leave the parking lot due to there only being one exit and it leading to a very busy expressway.

 

[DaveinOlyWA]

Walmart superstores are nearly half empty but they are positioned well to transition to online sales and local delivery so they will survive as will Best Buy, so...

On Best Buy was this recent news:
Best Buy just laid off 5,000 workers and will close more stores
https://www.cnn.com/2021/02/25/business/best-buy-store-closures-workers/index.html

As for Walmart, I haven't been going much lately but they still seem busy enough. I tend to go stores late at night to avoid the crowds, for both COVID and to avoid wasting time a checkout and leaving the store. The Walmart closest to home can have a very long line or cars to leave the parking lot due to there only being one exit and it leading to a very busy expressway.

Best Buy and Walmart look the same inside. Half the shelves stocked at 10% or less levels. Whole aisles with nothing. Best Buy laying off 5,000 full time workers but also hiring 2,000 part time workers. A BS cost cutting move. They aren't suffering; only desire to maintain profit margins. Both companies are moving fullspeed to online orders for local pickup or delivery.

 

[cwerdna]

Disney Stores closings: Here are the locations going out-of-business this week
https://www.kron4.com/news/national/disney-stores-closings-here-are-the-locations-going-out-of-business-this-week/

 

[cwerdna]

Amazon is shutting 68 retail stores, ending Amazon Books, 4-star and Pop Up shops
https://www.cnbc.com/2022/03/02/amazon-closing-68-stores-ending-amazon-books-4-star-pop-up-shops.html

 

[rmay635703]

Amazon is shutting 68 retail stores, ending Amazon Books, 4-star and Pop Up shops
https://www.cnbc.com/2022/03/02/amazon-closing-68-stores-ending-amazon-books-4-star-pop-up-shops.html

Amazon has canned close to 100 independent delivery businesses/contractors (and untold #’s of employees)

 

[cwerdna]

After Saturday, there will be only 3 Kmart stores left in the U.S.
https://www.deseret.com/u-s-world/2022/4/11/23020076/kmart-stores-left-locations points to the https://apnews.com/article/business-new-york-city-new-york-new-jersey-lifestyle-9e06f958526665df9f7c9422f67516ef which says:
"Once it shutters, the number of Kmarts in the U.S. — once well over 2,000 — will be down to three in the continental U.S. and a handful of stores elsewhere, according to multiple reports, in a retail world now dominated by Walmart, Target and Amazon."

 

[cwerdna]

Bed Bath & Beyond CFO Gustavo Arnal died by suicide, medical examiner says
https://www.cnbc.com/2022/09/04/bed-bath-beyond-cfo-gustavo-arnal-has-died-company-says.html

Bed Bath’s stock is down 43% this year — and about 90% from its all-time high.

Arnal died two days after the company announced plans to close 150 stores of its “lower producing” namesake stores. The New Jersey-based retailer also said it would be cutting 20% of its staff and added that it had secured more than $500 million in new financing, including a loan.

The cost-cutting measures come as Bed Bath’s core business continues to struggle. The company disclosed continuing slowing sales on Wednesday, with same-store sales dropping 26% for the three-month window ended Aug. 27 — a bigger drop than in previous quarters.

Some analysts say that while the turnaround plan announced Wednesday will improve the company’s liquidity position, it won’t be sufficient to save Bed Bath’s business. Raymond James downgraded the stock Thursday, saying that the cost cuts and new financing “only kicks the can down the road.”

Bed Bath is one of the public companies swept up in the so-called “meme trade,” which sees stocks experience wild price swings based on social media hype among retail investors. In August, Bed Bath had multiple days with price moves of more than 20%.

 

[danrjones]

I watched a video last night on the demise of Fry's Electronics. May not mean much to those of you out East, but when I was younger, a trip to Frys was the thing to do.

 

[Wakyak]

I'm sad to see Fry's go but the electronic parts do seem like the kind of thing that perfectly fits the on-line order model. There is a huge variety parts to stock and very few people will probably buy parts on 'impulse'. The market is widely dispersed the product is usually small and easy to ship. Fry's was always a destination stop when I was in the Bay Area on business way back when. But even 10 years ago it seemed that the electronics hobbyist seemed to becoming a thing of the past. Now with Arduinos everything and so much info on-line I don't see how a store like Fry's has much of a place anymore.

I think that's pretty much what kept Radioshack in business for some time. And I believe they're almost exclusively online now.

 

[cwerdna]

Rite Aid files for bankruptcy amid slowing sales, opioid litigation
https://www.cnbc.com/2023/10/16/rite-aid-files-for-bankruptcy-amid-slowing-sales-opioid-litigation.html

 

[cwerdna]

Weird!
Troubled retailer Sears quietly reopens two stores. What is behind the comeback? https://www.cnn.com/2023/12/10/business/sears-burbank-store-revived-retailer-holidays/index.html

 

[cwerdna]

"Chicken Soup for the Soul Entertainment, Parent of Redbox, Files for Chapter 11 Bankruptcy Disclosing Nearly $1 Billion in Debt"
https://variety.com/2024/digital/ne...ment-redbox-chapter-11-bankruptcy-1236057393/

https://www.cbsnews.com/news/walgreens-stores-closing-locations/

https://www.sfgate.com/food/article/rubios-closes-all-bay-area-stores-19495478.php

 

[nedion]

That's not news. The trend of retail store closures began 15 years ago. If you're interested, google photos of abandoned shopping centers. The whole world has suddenly switched to the online economy. I don’t even know how to feel about this because there are also a lot of disadvantages here. Just remember how disgustingly Amazon delivery works ( But on the other hand, those who want to gain profit are exploring new opportunities. My mother is 57 years old and at the beginning of summer she asks me to explain to her the nuances of the article on this page. If anyone is too lazy to click the links, then this is about creating electronic wallets with the ability to manage crypto. It turned out that some of her students (online tutoring) want to pay with cryptocurrency. And I am surprised that she did not dismiss this opportunity as many at her age would have done. So the closure of retail is normal for the current economy. The main thing is that there are no power outages))

 

[MikeinPA]

You forgot to mention all the buffets but I guess that is not really retail.

Not all the buffets. Shady Maple is thriving! I use the nearby free chargers so I see the crowds.

How America's Largest Buffet Survived The Death Of All-You-Can-Eats​

 

[DaveinOlyWA]

Not all the buffets. Shady Maple is thriving! I use the nearby free chargers so I see the crowds.

How America's Largest Buffet Survived The Death Of All-You-Can-Eats​

One of the better Chinese buffets is back in business in our town but to my knowledge, not a single reservation buffet has returned. A big loss to me (in enjoyment AND weight)

 

[cwerdna]

"Kmart’s blue light fades to black with the shuttering of its last full-scale US store"
https://apnews.com/article/kmart-cl...t-last-store-6b302bbaec8c003351f62aefcf0528b4