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Valued Contributor
Posts: 944
Registered: ‎03-09-2010

Re: 😟 Additional B&M store closings

I have read all the replies on this thread. Yes, buying habits have changed and these closing reflect that. Walgreens completely overbuilt. From an environmental perspective, I hate seeing empty buildings. If a business does not replace a closing store, I’d love to have them torn down and put back to green space.
Respected Contributor
Posts: 2,029
Registered: ‎04-03-2016

Re: 😟 Additional B&M store closings

Our local camera store is closing. Can’t keep doors open when people come in, ask advice, and then go on line to purchase cheaper. No chance to compete. When I look at what our grocery stocks on a daily basis so when I need I can count on them, it’s mind-boggling.
Esteemed Contributor
Posts: 5,891
Registered: ‎03-10-2010

Re: 😟 Additional B&M store closings

[ Edited ]

HBC, the parent company of Hudson's Bay stores in Canada will be closing their Hudson's Bay stores in the Netherlands - all 15 of them at the end of this year and laying off 1400 people. They opened a flagship store in the Netherlands 2 years ago and spent a fortune renovating a heritage building there. They have lost money selling there and are closing stores that would have been open for 2 years or less.

 

Reuters article via Retail Insider website:

 

https://ca.reuters.com/article/businessNews/idCAKCN1VL0G5-OCABS

 

HBC also sold off the rights to Lord & Taylor to Le Tote a clothing rental company in the U.S. for $100 million dollars. (although HBC still owns the real estate). Who knows what will happen to Lord & Taylor stores and the brand? 

 

Canadian Press article via Global News:

 

https://globalnews.ca/news/5824149/hudsons-bay-le-tote-lord-and-taylor/beta/?utm_expid=.kz0UD5JkQOCo...

 

Edited to add my opinion:

 

HBC has nobody but themselves to blame for their own inept management style. They have never renovated suburban Hudson's Bay stores in Canada. The stores are straight out of the 1980s with torn and dirty carpets and dirty dressing rooms in dire need of cleaning and painting.

 

The current HBC CEO will be getting a 40 million dollar bonus if all these cost cutting measures reverses the falling stock prices and fortunes of the company as it was a former CEO that did all the acquisitions in the past that are now being offloaded. Only Saks 5th Avenue has been a money making acquisition and HBC wants to hold on to Saks and Hudson's Bay stores. But I wouldn't be surprised if HBC closes some Hudson's Bay stores in Canada. There's 9 Hudson's Bay stores in the greater Vancouver, B.C. area and another store in the Fraser Valley. That is a lot of stores and HBC only bothers to fix up their flagship stores not the suburban ones so I suspect that some will be on the chopping block.

Honored Contributor
Posts: 10,168
Registered: ‎03-14-2010

Re: 😟 Additional B&M store closings

I am not nearly as enamored with Amazon as I once was. The malls here are closing and only three large ones are still going strong. I find the entire mall experience a waste of my time and energy. Little, if any, customer service, so am not missing any if I shop online. I was surprised to learn today and Macy’s is updating and putting big money into one of its stores here...when I had heard they were closing. Maybe the gloom and doom stories aren’t all true.
Honored Contributor
Posts: 10,168
Registered: ‎03-14-2010

Re: 😟 Additional B&M store closings

CVS is putting stores in right across from Walgreens all over our area. I can’t recall the last time I went in either of them.
Honored Contributor
Posts: 10,168
Registered: ‎03-14-2010

Re: 😟 Additional B&M store closings

It would not upset me at all if Walmart was taken down a peg or two. They have become a haven for crappy merchandise, shady characters, and panhandlers in my area. I despise going in there, but once in a while I will to get something I cannot get anywhere else.
Honored Contributor
Posts: 10,168
Registered: ‎03-14-2010

Re: 😟 Additional B&M store closings

Realize that closing stores does not mean they are necessarily going out of business completely. Gymboree is liquidating so they are done. Many, like Gap, has been kept afloat by its Old Navy brand, so it is still doing okay, but overhead is a killer..so they will close some stores and up the online game. Many on the list are cutting back on physical buildings to save money on rent, upkeep, etc. the companies are still intact. Toys R Us is actually going to be opening stores again; I am guess just in time for the Christmas season.
Esteemed Contributor
Posts: 5,891
Registered: ‎03-10-2010

Re: 😟 Additional B&M store closings

I read a new article on the Business of Fashion website about Hudson's Bay stores in Canada. 

 

https://www.businessoffashion.com/articles/news-analysis/hudsons-bay-chases-relevance

Hudson’s Bay Chases Relevance

 

Hudson's Bay can't attract millennial shoppers and the stores are rundown looking. It's not a surprise at all.

 

I looked through my purchases from Hudson's Bay for the last year and I only bought tops from Style & Co and INC International Concepts as well as a few pair of shoes. All were bought on sale. I have only purchased a couple of beauty items, The Ordinary and one Sigma makeup brush and both online last fall and winter.

 

My millennial daughter has only bought one dress to wear to a wedding last year, one pair of shoes last winter and some yoga clothes this spring. Her first online beauty purchase from HBC got canceled due to an inventory error. Her second online purchase, a pair of pants had the security sensor tag left on it. My daughter hasn't bought anything else from Hudson's Bay since early spring and doesn't shop there unless I'm with her.

 

HBC isn't a place where I have confidence in their online shopping platform anymore and I won't purchase online from them after a clothing item got canceled for no reason and a cosmetic item got canceled due to inventory errors, also in early spring.

 

I only shop at Hudson's Bay bricks and mortar stores and all of the stores i've been in need renovating.