3 more apparel stores join list of struggling retailers


Another day, another store closure — that seems to describe the retail climate in the U.S. in recent years.

It seems Payless ShoeSource is the latest to join a growing list of retailers with impending store closures. Amid declining sales, the discount footwear chain plans to file for bankruptcy and close 500 stores nationwide, according to PressConnects.com.

Retailers including Sears, Kmart and The Limited have already shuttered hundreds of stores so far in 2017. CNN Money reports that Texas-based gaming retailer GameStop recently announced that as many as 190 stores could be shuttered in its effort to close 2 to 3 percent of its stores.

It's not the usual blah, blah, blah. Click here to sign up for our free newsletter.

And that's just the beginning. With more consumers shopping online and avoiding shopping malls, many familiar store brands are struggling. According to The Street:

Just in the past few weeks, Wall Street saw bankruptcy filings from sporting goods retailer Gander Mountain, RadioShack successor General Wireless Operations, everyday value price department store operator Gordmans Stores and appliances, electronics and furniture retailer HHGregg. Last Wednesday, children's apparel retailer Gymboree cautioned that it was low on cash and may not survive.

The Street says the future also looks pretty grim for these three retailers:

  • J. Crew: The women's apparel retailer says first quarter same-store sales fell 11 percent this year as its foot traffic is dwindling.
  • Claire's: The girls accessory store has suffered three straight years of losses, says The Street. The retailer is also struggling with long-term debt.
  • Ascena: The parent company of apparel retailers Ann Taylor, Ann Taylor Loft and Justice, among others, has experienced a 67 percent drop in its stock in the past year, says The Street.

See a list of stores shuttering locations this year:

14 PHOTOS
Retailers closing stores in 2017
See Gallery
Retailers closing stores in 2017
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

There are countless reasons for a store or a brand to fail. Check out "10 Iconic Brands That Died and 9 More That May Soon Follow."

What do you think of the steady stream of store closures over the past few years? Share your thoughts below or on Facebook.

Read Full Story

Markets

NASDAQ 6,629.05 23.99 0.36%
S&P 500 2,575.21 13.11 0.51%
DJIA 23,328.63 165.59 0.71%
NIKKEI 225 21,457.64 9.12 0.04%
HANG SENG 28,487.24 328.15 1.17%
DAX 12,991.28 1.18 0.01%
USD (per EUR) 1.18 0.00 0.01%
USD (per CHF) 0.98 0.00 0.02%
JPY (per USD) 113.52 0.01 0.00%
GBP (per USD) 1.32 0.00 0.01%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.