Several retailers have already announced layoffs and store closures in the first month of the year, and experts predict more will continue to downsize.
“All retailers see a bump in sales during the holiday season. Announcements of store closings would have hurt their sales during the holiday shopping season because it would have sent the wrong message to customers,” said Serdar Durmusoglu, marketing professor at the University of Dayton. “So, even if they might have made a closing decision months in advance, they might have held of announcing after the New Year.”
Shoppers can expect changes from stores including:
What does that mean for consumers? Though the company declined to comment on any more store closures, the teen-clothing retailer announced 60 stores would shut down back in August. READ MORE HERE
The parent company of women’s clothing store The Limited has filed for relief under chapter 11 of the U.S. Bankruptcy Court. After closing all of its brick-and-mortar stores earlier this month, the retailer told customers they could still shop exclusively online. However, the website has also been taken down. READ WHY HERE
Macy’s will close locations in Columbus, Sandusky and Steubenville. More than 193 employees will be impacted in Ohio. READ WHY HERE
Sears Holdings will close another round of Sears and Kmart stores before April. Four locations will close down in Ohio. Experts expect the closings to continue in 2017 as retailers bring in less revenue through brick-and-mortar stores.READ HERE
Kmart, also owned by Sears Holdings, will close seven stores in Ohio. Two Kmart locations, Indian Ripple in Beavercreek and Woodman Drive in Dayton, remain in the Dayton area.READ IF THEY WILL CLOSE HERE
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