Liquidation is a time for reflection, we guess, so we put together a nice little time line of Circuit City’s precipitous decline over the past 2 years. We begin our journey in March of 2007, when Circuit City announced that it was firing everyone who knew what 1080p meant so that they could hire cheaper labor…
retail
Two Wisconsin Walmarts Evacuated Due To Mysterious Odors, FBI Investigates
By 1.16.09
The FBI is investigating an incident in which a mysterious chemical was released in a Wisconsin Walmart sending 47 people to the hospital — and is not investigating a Walmart in the same county that had to be evacuated the next day due to an odoriferous sewer problem. What an odd coincidence.
Two More Retail Bankruptcies, Goody's And Gottschalks
By 1.14.09
Gottschalks, a regional department store chain with 61 stores (most of them in California) has filed for Chapter 11 bankruptcy, but will continue to operate as usual. Goody’s a clothing retailer that emerged from bankruptcy in October, however, has failed and will be liquidated.
This Cold Medicine Display Is Perhaps A Little Too Realistic
By 1.14.09
Reader Virginia was shopping at the military commissary on Dyess AFB, TX when she noticed the above pictured display for cold medicine. Everything was fine until she took a closer look at the picture of the baby…
Walmart CEO Thinks Consumers Have Finally Learned That Debt Is Bad
By 1.12.09
Retailers are hoping that the credit crunch ends and consumers will start spending like crazy again — but Walmart’s CEO Lee Scott doesn’t think that’s going to happen.
Circuit City Close To Being Sold… Or Liquidated
By 1.9.09
Circuit City announced today that it is close to finalizing a deal to sell all or part of its operation to one of two undisclosed potential buyers— but if the deal falls through— the store could be liquidated.
Best Buy's Holiday Discounts Failed To Impress
By 1.9.09
Best Buy’s same store sales were down 6.5% as their discounts failed to convince you to buy, says Bloomberg.
No Store Was Spared The Holiday Bloodbath, Not Even Walmart
By 1.8.09
Walmart missed its same store sales estimates (considered the most important barometer for the health of a retail operation) for December — leaving analysts “shocked and disappointed.”
Macy's Closing 11 Stores
By 1.8.09
Looks like it’s time for Macy’s annual closing of the stores! This time it’s 11 underperforming locations that will be shuttered, and Macy’s says clearance sales will begin at those stores next week. Here’s a list of the stores that will be saying goodbye.
The Worst Target Ever Created: The One At The Atlantic Center Mall In Brooklyn
By 1.6.09
The FIPS blog, via undercover video (which contains NSFW curse words in textual format), attempts to uncover why the Target at the Atlantic Center Mall in Brooklyn is the absolute worst Target ever created. See, you people in the suburbs, with your nice Targets where products are arranged on the shelves in a sensible matter and the floors are clean and the lights are bright, probably don’t get it. This Target is like a Kmart that got too depressed to be physically able to put its shoes on in the morning. I know of this particular Target and speak from experience. So the FIPs people don’t get anywhere close to finding out why the Target is so bad, but they do approach its pathos. (The girl in the video blames the disarray on “the weekend” and “time of year.” Not true. It’s ALWAYS like that). Video inside…
By 12.30.08
../../../..//2008/12/30/according-to-bloomberg-retailers-expect/
According to Bloomberg, retailers expect to close 73,000 stores in the first half of 2009, because no one bought enough Christmas presents. Thanks, Marc!
As Retailers Suffer, Shoppers Start Haggling
By 12.29.08
Shoppers are frequently haggling over prices, even at major chain stores, the AP reports. With retail stores suffering, “you’d have to be a moron not to ask for a discount.”
By 12.27.08
../../../..//2008/12/27/the-chicago-tribune-is-reporting/
The Chicago Tribune is reporting that yesterday’s post-Christmas sales were lackluster for retailers. We don’t know about the rest of you, but we were way too full of eggnog and cookies to actually get up and go shopping.
By 12.27.08
../../../..//2008/12/27/every-other-retailer-in-existence/
Every other retailer in existence may have had an awful holiday season, but Amazon says it was its “best ever.” [MarketWatch]
Fry's Price Matches, But Only If You Pay "Overnight Shipping" For Item In Your Hand
By 12.27.08
This Fry’s in Texas apparently wants you to pay for them to replace their inventory. Or they think their customers are idiots. Maybe both?
Last-Minute Shoppers Unable To Save Christmas For Retailers
By 12.24.08
The AP says that while last-minute shoppers are still out there looking for bargains — the holiday season was over long ago for retailers.
Now That Gas Prices Are Lower, You Have Money To Buy Stuff, Save
By 12.24.08
Even though real incomes are dropping and people are worrying about their jobs — a drop in gas prices has lead to a push in retail spending, says the New York Times.
Criminal Complaint Against Embezzling Fry's VP Unsealed
By 12.23.08
Read the dirty details of the 26 page complaint against the Fry’s VP caught embezzling $65 million here. Post your favorite tidbits in the comments.
