43.7 F
Fort Worth
Wednesday, October 28, 2020
Business Retailers close, but there's room for optimism

Retailers close, but there’s room for optimism

Other News

JC Penney sees bankruptcy protection exit by Christmas

NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would...

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a...

At Home launches collection with Fort Worth connection

At Home Group Inc. (NYSE: HOME), The Home Décor Superstore, has debuted an exclusive collection with interior...

Is this a bad year for retail? The number of store closures would suggest so, but that metric masks an optimistic picture for retailers doing it right. U.S. retailers have announced 8,579 closures this year, eclipsing the 5,844 closings for all of 2018, according to Coresight Research. By the end of the year, Coresight estimates closures could reach 12,000. But only a handful of retailers account for most of the closings, many of them mall-based chains that are overleveraged, expanded their square footage too quickly or failed to leverage online shopping. Four retailers account for nearly half of the closures: Payless Shoes, Charlotte Russe, Gymboree and Ascena Retail Group. Retailers are also opening stores faster than last year. Coresight reports 3,571 openings so far, compared to 3,258 for all of 2018. “What is being missed is the large abundance of successful retailers,” said Tyler Higgins, managing director at Aarete, a global consultancy firm. “These are the retailers that are being strategic with their footprint, leveraging a successful eCommerce platform, and accelerating the pace at which they can get product into consumers’ hands.”

Latest News

Dow sinks 943 points as surging virus plagues Wall Street

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA AP Business Writers The Dow Jones Industrial Average sank 943...

Four Dallas bars suspended by TABC

Four bars in Dallas have been issued an emergency order for a 30-day permit suspension from the Texas Alcoholic Beverage Commission after...

VanTrust building 75-acre logistics hub in South Fort Worth

VanTrust Real Estate LLC, a full-service commercial real estate development company, recently broke ground on a 75-acre Fort Worth Logistics Hub in...

Topgolf, Callaway merge in $2B deal

Callaway (NYSE: ELY) and Topgolf Entertainment Group of Dallas on Oct. 28 announced that the companies have entered into...

Fort Brewery to relocate to former historic site

Fort Brewery & Pizza announced Oct. 27 the brewery and restaurant will relocate to a 25,000 square-foot facility located at 2737 Tillar...