Brick-and-Mortar Retail Implosion rolls on... The Limited's closing 6 Detroit Sites
How are customers going to be able to touch and feel anything before they order it on Amazon? /end sarcasm/ This is turning into a watershed year for retail. Add these to the Macy's / Kmart / Sears casualty list.
"Six The Limited stores in metro Detroit will close by Sunday, part of the company's announcement Friday that it will shutter all its brick-and-mortar stores at the end of this weekend.
The New Albany, Ohio-based company reported the closures on its its website in a message that says, "We're sad to say that all The Limited stores nationwide have officially closed their doors."
It said it will continue to operate online only after Sunday's closures.
The company has six locations in metro Detroit: Somerset Collection and Oakland Mall in Troy; Laurel Place in Livonia; Twelve Oaks Mall in Novi; Great Lakes Crossing in Auburn Hills; and Lakeside Mall in Sterling Heights, according to the company's website. The stores in Oakland Mall, Great Lakes Crossing and Lakeside Mall are Backroom at The Limited shops."
http://www.crainsdetroit.com/article...des-6-sites-in
Let’s raise the minimum wage!!
I have a great idea to save our local brick-and-mortar retail stores. Let’s raise the minimum wage!!
Here’s an outfit called “ Business For a Fair Minimum Wage”, http://www.businessforafairminimumwage.org, with some interesting advice.
“Dec. 22, 2016 – Business leaders across the country are speaking out in support of minimum wage increases taking effect on Dec. 31 and Jan. 1 because of the many economic benefits associated with a higher wage floor”
“History has proven time and again that increasing the minimum wage increases purchasing power among people who are living hand to mouth and must therefore spend the additional income on necessities -- food, clothing, transportation and so on,” said Arnold Hiatt, chairman of the Stride Rite Foundation and former CEO of the Stride Rite Corporation. “What better way to increase demand for the goods and services that businesses urgently need.”
While you've been paying attention to failing malls, these shopping centers are ...
Interesting article on cnbc, dispels some myths and misconceptions.
"...Macy's released the list of 68 stores it had marked for closure. While many assumed those stores were located in failing malls, an analysis by CoStar found that two-thirds of them were actually in "A" or "B" malls. The biggest takeaway, according to the commercial real estate research firm, was that 60 percent of the affected stores were within 10 miles of another Macy's..."
http://www.cnbc.com/2017/01/26/why-these-malls-are-thriving-while-others-die.html