Rolling Down the...Many retailers are still muddling along in a tough economy. Expect another year of store closings amid tepid growth. These 10 are making significant cuts; some are closing up shop altogether. Sources: about.com, published reports
The discount women’s apparel chain is shutting down, upon completion of the sale of parent Charming Shoppes to Ascena Retail Group. Charming Shoppes had already closed over 100 Fashion Bug locations in 2011. Ascnea will concentrate on improving Charming Shoppes' other properties, Lane Bryant and Catherines.
Its parent company Dish Network, which bought Blockbuster out of bankruptcy, continues the downsizing by cutting a third of the remaining locations. Don't count on the remaining 1,000 stores to last long, either.
The company continues shuttering Sears and KMart locales amid poor sales. Chairman Eddie Lampert has sold off a lot of his best real estate, as the company slowly but surely fades away. Expect strong brands like Craftsman and Kenmore to survive at other places.
Gap sits on plenty of cash, but a multi-year downsizing plan continues with 100 more stores. U.S. cutbacks were expected to total 700 stores between 2007 and 2013, and coincide with expansion into Asia.