Wednesday, January 28, 2009
Kotz Major Retailers are Expected to Go Belly Up This Year
Posted by Pete Kotz on Wed, Jan 28, 2009 at 12:53 PM
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Though signs of the depression were fashionably late coming to Tennessee, Forbes predicts you'll soon be seeing them in a big way at a mall near you. 
The chief problem is that people are too worried about job security to spend. This is probably a good thing over the long run, since our native gluttony badly needed a dose of depression-era prudence. A full one-third of American women expect to spend no money on clothes this year, according to one study. That figure is usually at about 4 percent.
So expect to see some very big dogs take a hit. Forbes predicts that Starbucks, the Gap, Timberland, and Ann Taylor will all close stores this year.
Among those facing total collapse: Eddie Bauer, Kmart, Sears, Lane Bryant and Zales.
Comments (3)
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Has anyone contacted these companies to confirm they are totally shutting down? Don't' you realize you Hurt businesses when you Report things like this?
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Posted by
Retail Professional
on 01/29/2009 at 6:31 AM
I agree Retail professional. I assure you that neither Forbes or this journalist contacted any of these companies. Absolute falsehoods that do hurt businesses that rely on these "knowledgeable" sources. It is a shame that in this economy, "reliable" sources are not following through with the truth.
Posted by
Retailer
on 01/29/2009 at 8:57 AM
