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I received this e-mail from a co-worker. I couldn't help editing it a bit, but it has some very good information in it relating to stores and closing. They say it's for the purpose to prevent purchasing invalid Gift Cards this Christmas Season, but I'd say it's good for sales, too. ;)

It's important to note that not all of these companies are filing for bankruptcy or ceasing to exist; several are simply closing a few stores, and while it may be indicative of the future on a larger, darker scale, I doubt companies like Starbucks really face a completely dim outlook. ;)


BE CAREFUL When BUYING GIFT CARDS this holiday.

It may be better to give cash or a present this year. Here's why:

Stores cross America are being scheduled to close after the Christmas season due to economic difficulties and bankruptcy. If the store closes, the gift cards would be no good.

Here are some of the announced closings. Of course these companies would love you to give them money for a gift card that would be no good later on. Perhaps some home made jam or a $5 bill would be safer, since once a store declares bankruptcy they don't have to honor their gift cards. Better yet, give the gift of food storage.


STORE CLOSINGS AND LAYOFFS: By the end of Dec. 2008 as announced

Starbucks: Starbucks will close approximately 600 company- operated stores in the U.S.

Macy's - 9 stores closing

J. C. Penney, Lowe's and Office Depot will be scaling back and cutting jobs.

Gap Inc. closing 85 stores: In addition to its namesake chain, Gap also owns Old Navy and Banana Republic. The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.

Dillard's to Close More Stores: Dillard's Inc. said it will continue to focus on closing underperforming stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another 6 underperforming stores this year.

Foot Locker to close 140 stores: In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment.

The Disney Store owner has the right to close 98 stores. The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's Place filed for bankruptcy protection in late March. In the news release, Disney said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.

Home Depot store closings: The Home Depot Inc. announced Thursday that it is shuttering 15 stores amid a lumping US. economy and housing market. The move will affect 1,300 employees. The Atlanta-based company said the underperforming U.S. stores being closed represent less than 1 percent of its existing stores. They will be shuttered within the next two months.

Sprint Nextel - 125 retail locations: New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year)! and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas. Sprint Nextel shares are down $2.89, or nearly 25%, at the time of
this writing.

CompUSA (CLOSED) clarifies details on store closings: Any extended warranties purchased for products through CompUSA will be honored by a third-party provider, Assurant Solutions. Gift cards, rain checks, and rebates purchased prior to December 12 can be redeemed at any time during the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners.

Dell Inc. closed its 140 kiosks in the United States

Circuit City Filed Bankruptcy, they promised to keep all stores open for the holiday season, but afterwards, they plan on closing 155 stores nationwide.

Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close...

Ann Taylor closing 117 stores nationwide: A company spokeswoman said the
company hasn't revealed which stores will be shuttered. It will let the
stores that will close this fiscal year know over the next month.

Eddie Bauer to close more stores: Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.

Cache closing stores: Women's retailer Cache announced that it is closing 20 to 23 stores this year.

Lane Bryant, Fashion Bug, and Catherines closing 150 stores nationwide: The owner of retailers Lane Bryant, Fashion Bug, Catherines Plus Sizes will close about 150 underperforming stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.

Talbots, J. Jill closing stores: About a month ago, Talbots announced that it will be shuttering all 78 of its kids and men's stores. Now the company says it will close another 22 underperforming stores. The 22 stores will be a mix of Talbots women's and J Jill, another chain it owns. The closures will occur this fiscal year, according to a company press release.

Bombay Company: The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online storefront has discontinued operations.

Pier 1: Announced that they would be closing an undisclosed number of stores.

Kirklands: A chain of home decor stores will be closing nearly 130 stores nationwide.

Ethan Allen Interiors - The company announced plans to close 12 of 300+
stores in an effort to cut costs.

Wilsons the Leather Experts - all 260 mall stores.

Wickes is going out of business: Wickes Furniture filed for bankruptcy protection last month and is going out of business, closing all of its stores.

Goodbye Levitz / BOMBAY, closed already, is going out of business: Levitz first announced it was going out of business and closing all 76 of its stores in December.

Zales, Piercing Pagoda closing stores. The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by July 31. Today, it announced that it is closing another 23 underperforming stores. The company said it's not providing a list of specific store closures. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.

Movie Gallery - 160 stores will close as part of a reorganization plan to exit bankruptcy. The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.

Pep Boys - 33 stores closing

Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand. Seventy-four underperforming Demo stores closed last May.

KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization.

Linens 'n Things: closing 120 stores nationwide

Liz Claiborne Inc. said it's closing the entire 54-store Sigrid Olsen chain.

Lone Star Steak House: 27 stores closing.

84 Lumber: 12 stores closing

Rite Aid: 28 stores

Big Dollar: dollar stores closing 10 stores

Date: 2008-11-25 02:16 am (UTC)
From: [identity profile] xxdesert-rose.livejournal.com
Now that is something to be concerned about...

Date: 2008-11-25 05:05 pm (UTC)
From: [identity profile] patriot-jackie.livejournal.com
It is, a little. At the same time, it's needed to happen for a long while. Stores like The Sharper Image I don't even know how they stayed in business with their prices. And Circuit City - why go to Circuit City when you can go to Best Buy where there are cheaper prices, better services, AND better warranty coverage? Just capitalism in mass action; pretty cool to live during these times, despite how bumpy and rough it is. Think of all the new companies we're gonna see rise out of this. It's exciting!

Will you be around tomorrow?

Date: 2008-11-25 09:44 pm (UTC)
From: [identity profile] xxdesert-rose.livejournal.com
Yeah I plan on making a journal update some time tonight actually. If you hadn't notice, I haven't been around lately because of numerous things but I'll touch on all of that in my entry. I have been meaning to email you or at least send you a private message though.

Date: 2008-11-27 06:07 am (UTC)
From: [identity profile] patriot-jackie.livejournal.com
Fwa. I'm queen of procrastination and avoiding issues. ;) It's all good. I was just supposed to *be* here today. Rather yesterday... since it's past midnight... Happy Thanksgiving! Lol

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