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Bebe and Ralph Lauren Closing Stores; Payless and Radio Shack Filing Bankruptcy 

submitted on April 5, 2017 by HouTex in "Stores / Merchants"
Analysts believe there's currently a retail bubble with too many retail stores at a time when consumers are shopping more online, according to this article at

Declining foot traffic and falling profit margins have forced many chains to scale back. Limited Stores, RadioShack owner General Wireless Operations and Gander Mountain have filed for bankruptcy protection this year. Department stores including Macy’s, Sears Holdings and JC Penney are closing hundreds of locations. Some retailers intend to use the savings to increase their efforts to capture more e-commerce spending.

The company is hoping to complete its Bebe closing plans without having to file for bankruptcy. The Bebe closing reports come after an announcement last month that it will close up to 25 stores in fiscal 2017.

Ralph Lauren
Ralph Lauren has struggled with declining sales and sharply reduced earnings in recent quarters. The company announced restructuring plans last year, laying off 8% of its staff and closing 50 stores to save $180 million to $220 million a year.

Payless ShoeSource
Payless ShoeSource is the latest retailer to file for Chapter 11 bankruptcy protection, adding its name to a growing list of chains that have struggled to compete against online and off-price retailers.

As part of the filing, Payless will close nearly 400 stores as it attempts to boost its balance sheet and restructure its debt load. The company currently has more than 4,400 stores in more than 30 countries, according to its website.

Radio Shack
Radio Shack has filed for Chapter 11 again, with plans to close 1500 stores.

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    Posted by clover on April 5, 2017 [reply] 0 0
    Not surprised with Ralph Lauren or Bebe. Wasn't aware that Radio Shack was still around. A little surprised with Payless. Saw that this morning.

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