U.S. RETAIL APOCALYPSE: 3,500 STORES TO CLOSE, MALL VISITS DROP 50% BETWEEN 2010-2013, 1/3 OF SHOPPING MALLS AT RISK SHUTTING DOWN
- More than 3,500 stores are expected to close in the next couple of months.
- Visits to shopping malls have been declining for years with the rise of e-commerce and titanic shifts in how shoppers spend their money. Visits declined by 50% between 2010 and 2013
- nearly a third of shopping malls are at risk of dying off as a result of store closures.
( Businesss Insider ) More than 3,500 stores are expected to close in the next couple of months.
Department stores like JCPenney, Macy’s, Sears, and Kmart are among the companies shutting down stores, along with middle-of-the-mall chains like Crocs, BCBG, Abercrombie & Fitch, and Guess.
Some retailers are exiting the brick-and-mortar business altogether and trying to shift to an all-online model.
For example, Bebe is closing all its stores — about 170 — to focus on increasing its online sales, according to a Bloomberg report. The Limited also recently shut down all 250 of its stores, but it still sells merchandise online.
Others, such as Sears and JCPenney, are aggressively paring down their store counts to unload unprofitable locations and try to staunch losses.
According to many analysts, the retail apocalypse has been a long time coming in the US, where stores per capita far outnumber that of any other country.
The US has 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia, the next two countries with the most retail space per capita, according to a Morningstar report from October.
Visits to shopping malls have been declining for years with the rise of e-commerce and titanic shifts in how shoppers spend their money. Visits declined by 50% between 2010 and 2013, according to the real-estate research firm Cushman & Wakefield.
….The nation’s worst-performing malls — those classified in the industry as C- and D-rated — will be hit the hardest by the store closures.
The real-estate research firm Green Street Advisors estimates that about 30% of all malls fall under those classifications. That means that nearly a third of shopping malls are at risk of dying off as a result of store closures.
( Bloomberg ) Payless Inc., the struggling discount shoe chain, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter.
The company is initially planning to close 400 to 500 stores as it reorganizes operations, said the people, who asked not to be identified because the deliberations aren’t public. Payless had originally looked to shutter as many as 1,000 locations, and the number may still be in flux, according to one of the people.
READ MORE: Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week
PHONY! MODERN APPEALING CLOTHING ( MAC )SUING IVANKA TRUMP ALTHOUGH ‘MAC would rather make a friend than a sale’…really?
MAC is suing Ivanka but according to an interview, they don’t care about sales: ‘One of the rules I learned early on about MAC is we’d rather make a friend than a sale’
San Francisco based Modern Appealing Clothing ( MAC ) is suing Ivanka Trump for ‘unfair competition’. The suit also asked for a restraining order that prevents the Ivanka Trump label from being sold in California. MAC is described as a “San Francisco’s fashion Wonderland”. It was founded in San Francisco by brother and sister Ben and Chris Ospital, with their mom, Jeri, in 1980.
While Ivanka’s clothes are classic chic, Modern Appealing Clothing (MAC) just complete opposite:
“The merchandise is high-concept fantasy” with “collections of independent brands and local designers with out-of-the-ordinary visions”
Ben Ospital:We all had a radical streak. Mom and Dad supported Cesar Chavez, and at 12 I was making signs for United Farm Workers protests.
Ben: We still say today what we said then: “Dress one person well, they’ll tell 20 people.” That’s how things started.
Goble: One of the rules I learned early on about MAC is we’d rather make a friend than a sale. I understand through Ben, Chris and Jeri’s guidance the importance of the karma of clothes.
Examples of their MAC clothing from their Facebook page – MAC – Modern Appealing Clothing
The looney libs are upset that they did not destroy Ivanka’s business with their lame boycott. Their latest looney trick is a lawsuit against Ivanka filed by San Francisco-based retailer Modern Appealing Clothing. The suit wants to ban Ivanka’s products from being sold in California. Modern Appealing Clothing was founded in San Francisco by brother and sister Ben and Chris Ospital, with their mom, Jeri, in 1980.
Chris and Ben Ospital and their mom Jeri, having a “MAC” tea party
( Hollwood Reporter by) A class-action lawsuit against the first daughter’s company has been filed by San Francisco-based retailer Modern Appealing Clothing.
Although Ivanka Trump has distanced herself from her namesake brand, the business can’t seem to catch a break. The first daughter’s company has been sued by a San Francisco-based retailer over “unfair competition.”
Modern Appealing Clothing (MAC) has filed a class-action lawsuit against Ivanka Trump Marks LLC, claiming that the defendant has gained unfair advantage “from Donald J. Trump being the President of the United States and from Ivanka Trump and her husband, Jared, working for the President of the Unites States,” according to court documents published by the International Business Times.
The suit was filed in the San Francisco Superior Court on Thursday.
The lawsuit says President Donald Trump and counselor Kellyanne Conway provided publicity for Ivanka’s lines and therefore helped boost its sales. Donald defended his daughter on Twitter, saying that Nordstrom was treating her unfairly when the retailer announced it would be dropping her line due to declining sales. Conway appeared on Fox & Friends in February and told viewers to “go buy Ivanka’s stuff.”
Online searches for Ivanka’s brand did increase in February, according to Refinery29, which cited a report from e-commerce aggregator Lyst. The brand’s sales increased by 346 percent from January to February and 557 percent in February compared to same period in 2016. Abigail Klem, president of the Ivanka Trump brand, also told Refinery29 that the brand has surged in the past six months.
Resale site ThredUP, however, reported that sellers are putting their Ivanka Trump products up at an increased rate.
The suit also asked for a restraining order that prevents the Ivanka Trump label from being sold in California. The doc read, “As a result of their unlawful acts, defendants have reaped and continue to reap unfair benefits and illegal profits at the expense of plaintiff MAC and the Class it seeks to represent.”
Modern Appealing Clothing was founded in San Francisco by brother and sister Ben and Chris Ospital, with their mom, Jeri, in 1980. MAC, which is described as “San Francisco’s fashion Wonderland,” has locations in Hayes Valley and Dogpatch.
‘TRUMP ONE OF OUR GREATEST PRESIDENTS EVER,’ SAYS HOME DEPOT CO-FOUNDER KEN LANGONE…OBAMA ALREADY PROVEN AS THE WORST EVER!
Home Depot co-founder Ken Langone: Trump has the potential to “go down as one of our greatest presidents ever.”
While Barack Obama is officially the worst president ever in history, despite of the left’s desperate attempt to prop him up with eight years of fake accomplishments and fake news , Ken Langone, co-founder of Home Depot, said on CNBC that he thinks President Donald Trump could go down as “one of our greatest presidents ever,” and has “guts,” and “great people around him.”
“[T]his guy has got guts,” Langone said on “Squawk Box.” “And he’s got great people around him.” He added that White House Counselor Kellyanne Conway’s husband is one of his lawyers.
( Breitbart) Coming off a jobs report that figured higher than analysts expected, the Trump jobs boom is continuing with big-box retailer Home Depot announcing that it plans to add up to 80,000 new employees nationwide, perhaps by spring.
After revamping its online application process, the hardware and home improvement supply company announced plans to expand this year, the Staten Island Advance reported.
“Applying for a job at the world’s largest home improvement retailer now takes about 15 minutes using any device, thanks to a shorter application and mobile-optimized ‘careers’ site at careers.homedepot.com,” Home deport said in a statement.
Job openings will include customer service and sales, lot associates, receiving, store support, cashier positions, as well as jobs in the Merchandising Execution Team — those responsible for setting up store displays.
The announcement came as part of the company’s new “Behind The Apron” series aimed at telling the stories of employees
The announcement by Home Depot comes on the heels of a higher than expected jobs report as hiring across the country measures in at its highest level in three years.
On Wednesday the federal government reported that the number of private payrolls increased by 298,000 in February, well above the original forecast of 187,000. January also saw levels of hiring revised upward to 261,000 jobs created.
The country has experienced higher growth since Trump took office. Only a day ago, for instance, President Trump praised Exxon Mobil for its plans to hire up to 45,000 new employees in facilities in Texas and Louisiana.
AMERICANS SO CONFIDENT WITH TRUMP ECONOMY THEY’RE QUITTING THEIR JOBS FOR BETTER ONES AT FASTEST RATE IN 16 YEARS
- More Americans are quitting jobs now than any time since February 2001
- January’s quit rate was 3.2 million, compared to 2.9 million the previous year
- Quit rate dropped massively from 2007-2010 as the economic crisis led to layoffs
- There are other signs that the US is growing economically this year
- CEO and small business expectations are both up according to surveys
- And more people aged 25-54 are working now than any time since 2011
( Daily Mail ) More Americans are ditching their jobs than at any point since 2001, according to new statistics from the Bureau of Labor Standards (BLS).
In January 2017, 3.2 million people in the US gave their bosses the boot – up from 2.9 million in January 2016, and the highest since February 2001.
That’s the latest in a seven-year-long-climb from the grim lows of mid-2009, and a sign of a confident economy, Yahoo News reported.