The original headline had to do with Amazon (AMZN) closing some Whole Foods stores.
Instead of an Amazon/Whole Foods article, I get a list of companies announcing store closures.
I was aware of the CVS location closures. But some of the others really surprised me
#28 is hilarious
https://za.investing.com/magazine/last-call-these-stores-are…
#28 is hilarious
OK. I give up. What is hilarious about the entry for Banana Republic?
Steve
There are firms who are closing stores because their popularity is dropping and there are firms who expanded too densely and their stores are cannibalizing their own sales. Starbucks on every corner of downtown London comes to mind.
Jeff
The Banana Republic last I walked in there has priced itself out of existence with fashions very few people would wear. It was not as upscale as the pricing.
OK. I give up. What is hilarious about the entry for Banana Republic?
Steve
Oops, I guess I did what the link did to me
Typo on my part … #29 (Blue light specialist) Kmart
- Dunkin Donuts (closing 800 stores)
- Starbucks (400 stores)
I’d guess that a lot of these closings have to do with either downtown locations and the nearby businesses are doing mostly work-from-home…so no need for as many storefronts; or coffee shops co-located in venues that have less business-travel business, like hotels & convention centers.
Mike
Many (most?) of these retailers lease their real estate. And they measure every store in all sorts of ways. So when the lease ends, if they determine that moving it half a mile east will result in higher profitability, then when the lease ends they close it and open a new branch half a mile east. I saw that happen with a nearby Starbucks last year, and they only moved a few hundred yards away (to a better location).