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Post by **GypsyGirl** on Jan 8, 2020 1:52:20 GMT
Just saw that Pier 1 plans to close 450 stores (of 942 stores). There are also reports that they are considering bankruptcy.
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breetheflea
Drama Llama
Posts: 6,362
Location: PNW
Jul 20, 2014 21:57:23 GMT
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Post by breetheflea on Jan 8, 2020 2:51:41 GMT
I was in Burlington Coat Factory on Sunday and would be surprised if it isn't next. No one was shopping. One cashier. And not much inventory to pick from (one rack of coats, maybe 10 per size. Maybe it's the season, I mean who'd want to buy a coat in the winter (eyeroll).
My mom says Bed, Bath and Beyond is next...
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Jan 8, 2020 2:53:56 GMT
I was in Burlington Coat Factory on Sunday and would be surprised if it isn't next. No one was shopping. One cashier. And not much inventory to pick from (one rack of coats, maybe 10 per size. Maybe it's the season, I mean who'd want to buy a coat in the winter (eyeroll). My mom says Bed, Bath and Beyond is next... It's a vicious cycle. Less shoppers in the stores, so the stores carry less, hire less help, which makes in-store shopping more miserable, which means more people shop online, which means less shoppers in the stores.... The quarterly stock price focus in the US means we give businesses no leeway to weather changes and try to adjust to them in ways that don't make the problems worse.
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seaexplore
Prolific Pea
Posts: 8,789
Apr 25, 2015 23:57:30 GMT
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Post by seaexplore on Jan 8, 2020 2:55:28 GMT
Too many would rather order online than actually get out of their home and go to a store. I live almost an hour one way from any sort of retail other than a grocery store. I order online all the time but pick up in store. That way I know my stuff will be there rather than having to go to multiple places to get stuff.
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Post by chances on Jan 8, 2020 3:14:32 GMT
This really bothers me. Quality has gone down so much...And there is so much synthetic blend fabric. Not in a good way either. Cheap, thin, clingy, stretchy blended knits. Low thread count shapeless blended wovens. All the shoes and handbags are vinyl. The jewelry is the cheapest dipped base metal, often with plastic instead of glass beads and stones. It's fast fashion quality garbage sold at specialty shop prices. I'd rather buy or make fewer items in nicer materials. While I appreciate convenience and bargains, I'm turned off by the shoddy quality of much merchandise now. I'm at the point where I'm acquiring much less, but it has to be good quality and add value to my life. I go to the store for something I need and often leave empty-handed because it's just stuff not worth buying. The sad thing is I dont understand most of what you typed. I know vinyl purses and cheap jewelry. I couldn't identify thread counts etc. Perhaps we are moving toward customers not complaining about poor quality because they don't know what good quality is.
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Post by yodutchess on Jan 8, 2020 3:21:57 GMT
I was in Burlington Coat Factory on Sunday and would be surprised if it isn't next. No one was shopping. One cashier. And not much inventory to pick from (one rack of coats, maybe 10 per size. Maybe it's the season, I mean who'd want to buy a coat in the winter (eyeroll). My mom says Bed, Bath and Beyond is next... Some Bed, Bath and Beyond stores are closing. My friend works at one in South Jersey that is closing.
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Post by Merge on Jan 8, 2020 3:28:28 GMT
I was in Burlington Coat Factory on Sunday and would be surprised if it isn't next. No one was shopping. One cashier. And not much inventory to pick from (one rack of coats, maybe 10 per size. Maybe it's the season, I mean who'd want to buy a coat in the winter (eyeroll). My mom says Bed, Bath and Beyond is next... Some Bed, Bath and Beyond stores are closing. My friend works at one in South Jersey that is closing. The one closest to us just closed before Christmas.
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Post by chaosisapony on Jan 8, 2020 3:37:48 GMT
I love Pier 1. It's one of the very few stores I enjoy walking into and just looking around and seeing what I can find. My local store has such friendly employees too. I'll be seriously sad if my Pier 1 closes.
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twinsmomfla99
Pearl Clutcher
Posts: 4,078
Jun 26, 2014 13:42:47 GMT
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Post by twinsmomfla99 on Jan 8, 2020 3:39:29 GMT
I hate shopping online because sizes are so in consistent.
I am waiting anxiously for the day when I can stand in front of a camera in leggings and a t-shirt, turn around slowly for a video, and have a 3D perfect measurement to get the right size clothing delivered to my door.
I am sure it’s possible, and when something like that finally comes out, I’ll never shop B&M again.
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Post by ntsf on Jan 8, 2020 4:55:53 GMT
interesting.. my son, 32, did all his christmas shopping at local retail shops.. the local jeweler, the bookstore, the kitchen store.. he loves going to the local shops. and we live in the big city where there are plenty of choices. he went first to the local mall (only traditional mall in our town) and the macys had gone, and many shops.. and he found nothing there.
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Post by 16joy on Jan 8, 2020 6:17:17 GMT
I'm no eco warrior but I was totally disgusted by the amount boxes I accumulated each week during November and December. I have kept some to reuse since I send a package sometimes to my son in college. I'm sure I killed at least one tree.
i am going to an actual dress store soon because I have an event that calls for an evening gown. I can't remember the last time I was in a dressing room.
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Post by LavenderLayoutLady on Jan 8, 2020 11:15:57 GMT
I was in Burlington Coat Factory on Sunday and would be surprised if it isn't next. No one was shopping. One cashier. And not much inventory to pick from (one rack of coats, maybe 10 per size. Maybe it's the season, I mean who'd want to buy a coat in the winter (eyeroll). My mom says Bed, Bath and Beyond is next... It's a vicious cycle. Less shoppers in the stores, so the stores carry less, hire less help, which makes in-store shopping more miserable, which means more people shop online, which means less shoppers in the stores.... The quarterly stock price focus in the US means we give businesses no leeway to weather changes and try to adjust to them in ways that don't make the problems worse. At a retailer I work for, employee hours are adjusted DAILY to balance the budget with profit numbers from the previous day. The manager has a large calendar in their office, everyday has the profit from that day the previous year written on it. If on Monday our store doesn't reach last year's profit number from the same day, then on Tuesday the manager will tell however many employees to go home early to balance the profits with the scheduling budget so the store doesn't show a loss or deficit. Suzy might come into work on Tuesday, expecting to work 8 hours, but her schedule will be cut down to 3 hours. No notice until she comes in that morning. Weekly schedules are also changed constantly, to account for budgeting. So, it's not always that stores don't have enough employees, they just won't let them work. Less employees = less product on the sales floor & fewer cashiers to ring you up. Then customers are less satisfied with the amount of product to choose from, & the long wait in line to be rung up, & choose not to shop there again. The store then shows a smaller profit, so the manager again cuts hours. When the store closes, the company wants to blame online retailers, but there is more than that causing it. And never forget, all those hour cuts and sudden day cuts from the schedule are all so shareholders will continue to make tons of money, no matter what. They don't care that employees can't rely on their schedule, and can't plan for how much they should make that week. They have thousands of desperate people that are in need of work, that will come in with less than a day's notice. They don't care about individual employees because we are all replaceable. I speak from seeing this firsthand.
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Jan 8, 2020 13:48:06 GMT
It's a vicious cycle. Less shoppers in the stores, so the stores carry less, hire less help, which makes in-store shopping more miserable, which means more people shop online, which means less shoppers in the stores.... The quarterly stock price focus in the US means we give businesses no leeway to weather changes and try to adjust to them in ways that don't make the problems worse. At a retailer I work for, employee hours are adjusted DAILY to balance the budget with profit numbers from the previous day. The manager has a large calendar in their office, everyday has the profit from that day the previous year written on it. If on Monday our store doesn't reach last year's profit number from the same day, then on Tuesday the manager will tell however many employees to go home early to balance the profits with the scheduling budget so the store doesn't show a loss or deficit. Suzy might come into work on Tuesday, expecting to work 8 hours, but her schedule will be cut down to 3 hours. No notice until she comes in that morning. Weekly schedules are also changed constantly, to account for budgeting. So, it's not always that stores don't have enough employees, they just won't let them work. Less employees = less product on the sales floor & fewer cashiers to ring you up. Then customers are less satisfied with the amount of product to choose from, & the long wait in line to be rung up, & choose not to shop there again. The store then shows a smaller profit, so the manager again cuts hours. When the store closes, the company wants to blame online retailers, but there is more than that causing it. And never forget, all those hour cuts and sudden day cuts from the schedule are all so shareholders will continue to make tons of money, no matter what. They don't care that employees can't rely on their schedule, and can't plan for how much they should make that week. They have thousands of desperate people that are in need of work, that will come in with less than a day's notice. They don't care about individual employees because we are all replaceable. I speak from seeing this firsthand. Exactly. Employees are disposable. All things in vulture capitalism must bow to the almighty god of Quarterly Profits!
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Jan 9, 2020 23:34:51 GMT
"Somehow, in the midst of a monster holiday shopping season, America's biggest department stores managed to lose sales. Despite several attempts to revamp their images, department stores have gotten the cold shoulder from shoppers. This trend isn't new. It has been going on for several years (remember Sears?). But the 2019 holiday shopping season brought their troubles into stark relief. Despite low unemployment and high consumer confidence, JCPenney (JCP) had a dismal holiday. Kohl's (KSS) and Macy's (M) suffered, too. And Victoria's Secret parent L Brands (LB) continued its years-long run of losses. JCPenney's sales at stores and websites open for a year fell 7.5% during the holidays compared with last year. Kohl's and Macy's sales dropped slightly, and Macy's said it will close 28 stores. Victoria's Secret sales at stores and websites open for at least a year fell 12% and its parent cut its earnings forecast." www.cnn.com/2020/01/09/business/jcpenney-macys-kohls-department-stores/index.html
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Post by snowsilver on Jan 10, 2020 0:58:34 GMT
I just read that Costco had an 11 percent increase in sales last year (or maybe for the holiday season--can't remember for sure). So they seem to be bucking the trend.
LavenderLayoutLady, thank you for your post above. I found it very interesting to hear first-hand what employees are experiencing (I tried to select your post to respond, but for some reason it didn't work).
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Post by 2peaornot2pea on Jan 10, 2020 1:45:19 GMT
The retail market became over-saturated, with way too much competition. Remember when a major city had at most, two malls, with a couple of departments store anchors? Going to the mall was an event. And when you shopped, there were sales associates to help with shoe sizing, clothing sizing, etc. The customer service was fantastic! And the clothing quality was much higher. We didn't purchase as many clothes, but what we did buy withstood laundering and wear.
I find it really difficult to find clothes that fit, so I prefer to try them on too. When I buy online, I have to send back 80% of what I have ordered. It's a giant PIA.
I can only order shoes online if I have already tried on the specific brand/style/size. I have foot issues and I have to try on dozens of shoes to get the right fit and comfort.
If the stores that do survive, begin to offer better service and quality, I think they'd see a renaissance in shoppers coming into the store again. I know I would take the time to drive to a store if I knew I'd could get help finding what I need while I'm there.
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Post by birdy on Jan 10, 2020 1:54:19 GMT
I have to try clothes on to see how they feel. Same with shoes and glasses. I also like to look at products in person to see the quality before I buy. We do use Amazon for some stuff that we've purchased in store before (dog food, cleaning supplies, etc.) I don't know what I'd do if most stores in my area closed up!
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Post by crazy4scraps on Jan 10, 2020 2:10:58 GMT
I just read that Costco had an 11 percent increase in sales last year (or maybe for the holiday season--can't remember for sure). So they seem to be bucking the trend. LavenderLayoutLady, thank you for your post above. I found it very interesting to hear first-hand what employees are experiencing (I tried to select your post to respond, but for some reason it didn't work). Costco pays their employees well and they offer benefits even for permanent part time workers who have been working there a set length of time. They promote aggressively from within. They also stand behind what they sell 100%. They are definitely not your average retail. I have a family member that works there and he only has good things to say about them as an employer.
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Jan 10, 2020 2:36:06 GMT
I just read that Costco had an 11 percent increase in sales last year (or maybe for the holiday season--can't remember for sure). So they seem to be bucking the trend. LavenderLayoutLady, thank you for your post above. I found it very interesting to hear first-hand what employees are experiencing (I tried to select your post to respond, but for some reason it didn't work). Costco pays their employees well and they offer benefits even for permanent part time workers who have been working there a set length of time. They promote aggressively from within. They also stand behind what they sell 100%. They are definitely not your average retail. I have a family member that works there and he only has good things to say about them as an employer. Same (friend). Amazing that profit-driven idiots never seem to get that happy workers make the experience better for everyone. Miserable workers make shopping a misery.
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Post by Scrapper100 on Jan 10, 2020 3:13:19 GMT
In the past couple of weeks I’m noticing that stores have limited quantities and lots of empty shelves. Noticed this at both Walmart and Costco. It’s weird and annoying.
I actually went to the mall this year as shipping was going to be too slow. I actually enjoyed it overall. I even went into a Hallmark store and haven’t done that in probably 10 years. Our mall has a good mix but there are a lot of strip malls around the edges and lots of restaurants which draw people but they are all on the outside of the mall so you don’t have to actually enter the mall. I’m not normally someone to go to the mall. Kohl's is in a strip mall close to us so it’s nice to not deal with mall traffic.
We buy a lot online but I prefer to touch and try on clothes. I will buy extras of something online but only after I have tried them on in person.
With stores carrying less and less it makes it so I have to shop online. Sometimes it’s ok and other times it’s annoying. Of course I don’t buy much stuff just basics. Oh I wanted some face wipes and was going to go to Target. I looked online and Amazon was selling for the same price I used Amazon and saved myself an hour, gas and I’m sure something else would have landed in my cart and I ran the risk of them being out of stock at my store - this happens too often.
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Post by refugeepea on Jan 10, 2020 3:32:49 GMT
My mom says Bed, Bath and Beyond is next... Pier one in my area lasted less than five years. Bed Bath and Beyond closed in the last year.
I also think it's the changing attitudes. The millennial generation seems to be more about experiences than stuff. Personally, I hate to shop when I don't need anything. There are actually three independent clothing/boutique stores in my town. My time is limited, I'm a bigger size, and I DON'T want to be noticed. I prefer the anonymity of shopping online. I've been to one but it was average quality items.
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Post by FuzzyMutt on Jan 10, 2020 5:35:58 GMT
interesting.. my son, 32, did all his christmas shopping at local retail shops.. the local jeweler, the bookstore, the kitchen store.. he loves going to the local shops. and we live in the big city where there are plenty of choices. he went first to the local mall (only traditional mall in our town) and the macys had gone, and many shops.. and he found nothing there. My guy is a B&M shopper as well! Surprisingly good too!! I have gone almost exclusively online, with a very few ship to stores. I bought him a beautiful leather bag and I wanted to see it before I “accepted” it and dealt with a return. He bought me two really cute things from a locally owned jewelry shop a town over. I’d never heard of them, but I’m glad he did. I’m trying to get more local, but it’s really hard given 4/5 of my family lives in other states.
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Post by FuzzyMutt on Jan 10, 2020 5:37:18 GMT
My mom says Bed, Bath and Beyond is next... Pier one in my area lasted less than five years. Bed Bath and Beyond closed in the last year.
I also think it's the changing attitudes. The millennial generation seems to be more about experiences than stuff. Personally, I hate to shop when I don't need anything. There are actually three independent clothing/boutique stores in my town. My time is limited, I'm a bigger size, and I DON'T want to be noticed. I prefer the anonymity of shopping online. I've been to one but it was average quality items.
Agreed. I’ve been at this point for a while. I don’t need anything, at all. So if I’m going to buy it, it will be of the best quality and long lasting. That’s not Pier 1 or BBB.
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Post by FuzzyMutt on Jan 10, 2020 5:40:00 GMT
I'm no eco warrior but I was totally disgusted by the amount boxes I accumulated each week during November and December. I have kept some to reuse since I send a package sometimes to my son in college. I'm sure I killed at least one tree. i am going to an actual dress store soon because I have an event that calls for an evening gown. I can't remember the last time I was in a dressing room. I bought some beeswax wrapping cloths on amazon. The packaging alone was more waste (plastic pillow packs? ?) than I use in plastic wrap in 5 years!! I am not exaggerating. My Harris Teeter branded plastic cling wrap just gave up the ghost this year, and I’ve lived out of market 5 years. SO disappointed.
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Post by crazy4scraps on Jan 10, 2020 14:25:30 GMT
In the past couple of weeks I’m noticing that stores have limited quantities and lots of empty shelves. Noticed this at both Walmart and Costco. It’s weird and annoying. A lot of stores take inventory for their taxes at year end and want to run down their inventory levels right before everything has to be counted. Retail stores want to have a low inventory value for taxes. It isn’t uncommon for stores to have a lot of empty shelves between Christmas and the New Year not only because of that but also because typically after Christmas is when many stores do a major re-set and change over their inventory from winter to spring merchandise.
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Post by FuzzyMutt on Jan 10, 2020 17:04:20 GMT
"Somehow, in the midst of a monster holiday shopping season, America's biggest department stores managed to lose sales. Despite several attempts to revamp their images, department stores have gotten the cold shoulder from shoppers. This trend isn't new. It has been going on for several years (remember Sears?). But the 2019 holiday shopping season brought their troubles into stark relief. Despite low unemployment and high consumer confidence, JCPenney (JCP) had a dismal holiday. Kohl's (KSS) and Macy's (M) suffered, too. And Victoria's Secret parent L Brands (LB) continued its years-long run of losses. JCPenney's sales at stores and websites open for a year fell 7.5% during the holidays compared with last year. Kohl's and Macy's sales dropped slightly, and Macy's said it will close 28 stores. Victoria's Secret sales at stores and websites open for at least a year fell 12% and its parent cut its earnings forecast." www.cnn.com/2020/01/09/business/jcpenney-macys-kohls-department-stores/index.htmlI used to enjoy shopping at all four of those stores (and did shop Macy's this year.) The effort of figuring out what really is a sale, and always some percent, check the mail, check email, check texts, some kind of "Macy's money" or "Kohl's cash" that always expires before I use it (ugh) is so frustrating and I never feel like I'm getting a fair price any more. I read an article a few years back about JCP, and how their normal prices are always on sale 40% off, so it seems like nothing is ever on sale. I won't shop at Victoria's Secret any more unless I have a fist full of mailed "free panty" coupons, I'm not surprised those stores are losing business, BBand Beyond is the same way. Why anyone would ever pay full price for anything in there is beyond me, but I don't like shopping one item at a time either.
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Jan 17, 2020 14:31:00 GMT
"Barneys Workers Feel Used as They March Store Toward Death
As the retailer goes through liquidation, employees at its flagship store say they haven’t received information about a closing date, severance pay or benefits."
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Aug 3, 2020 14:13:22 GMT
" Lord & Taylor, one of America's oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men's Wearhouse and Jos. A. Banks, also filed for bankruptcy. Many of the companies that have filed for Chapter 11 in recent weeks were already struggling, but the forced closure of nonessential stores in March pushed them to the brink... Tailored Brands, which filed for Chapter 11 Sunday in the Southern District of Texas, said it would continue to operate Men’s Wearhouse and Jos. A. Banks stores, along with K&G Fashion Superstore and Moores Clothing for Men, which it also owns. It said in a release that a restructuring plan is expected to reduce the company’s funded debt by at least $630 million and provide increased financial flexibility.... As of July 23, roughly 40 retailers, including big and small companies, had filed for Chapter 11 bankruptcy so far this year. That exceeds the number of retail bankruptcies for all of last year. About two dozen of them have sought bankruptcy protection since the pandemic started. Others include J. Crew, JCPenney, Neiman Marcus, Stage Stores, and Ascena Retail Group, which owns Lane Bryant in addition to Ann Taylor." www.nbcnews.com/business/business-news/lord-taylor-men-s-wearhouse-owner-file-bankruptcy-n1235614
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Post by **GypsyGirl** on Aug 3, 2020 14:27:44 GMT
And yet Tailored Brands was able to pay out $3.3 million in incentive compensation to executives. Did either TB or Lord & Taylor receive the PPP loans?
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Deleted
Posts: 0
Sept 30, 2024 5:19:06 GMT
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Post by Deleted on Aug 3, 2020 14:34:40 GMT
And yet Tailored Brands was able to pay out $3.3 million in incentive compensation to executives. Did either TB or Lord & Taylor received the PPP loans? Yes, we always seem to have money to help companies and the wealthy. Because they "take risks". You know who else "takes risks" - the man and woman going to work every day not knowing if their company will be there tomorrow. The folks who decide to have children without knowing if there will be enormous complications or diseases. The people who drive to work and back miles and miles each day to a job that might be outsourced tomorrow, and they might have a car accident. WE ALL TAKE RISKS EVERY F(#$*ING DAY. But the wealthy and companies are molly-coddled and celebrated for their "risk taking". The rest of us are on our own.
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