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The Retail Bust is Coming to a Location Near You


Guest Ron_*

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Guest Devlin

Leucadia is a cheap exporter of manufactured goods. They are helping China and the rest of Asia to accumulate a huge pile of U.S. dollars which they are employing to raise the standard of living of their people by building infrastructure and encouraging consumer spending. I am not a big fan of them.

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Guest Human_*

Don't worry Law, When you get Married? You WILL the Words "ON SALE".

 

 

 

 

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I think it is many things. I am currently staying away from my local shopping malls out mere temptation of spending more money than I really have.
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  • 3 weeks later...
Guest August

Discount retailer Filene's Basement said Monday that it has filed to reorganize under Chapter 11 bankruptcy-law protection, less than two weeks after its new owner said it was reviewing "all available options."

 

The privately held company, based in Burlington, Mass., and recently acquired by the Buxbaum Group, also reached a deal that will let Crown Acquisitions and partner The Chetrit Group buy 17 of its 25 stores for $22 million. Those stores include flagships in Boston and New York, but not the store in downtown Baltimore's Inner Harbor.

 

In the filing, Filene's blamed the bankruptcy on a steep decline in consumer spending and the temporary closing of its flagship store in Boston, which was shut down for a redevelopment project.

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Guest Lisa Kreda

Henricks Jewelers, the 27-year-old jewelry superstore that earned a reputation for its diverse collections of designer pieces and quality gemstones, is liquidating the entire inventory of its 12,000-sq.-ft. Bonita Springs showroom at discounts of 40% to 80% off. The inventory is valued at approximately $8.0 million at retail.

 

The ongoing, 60-day sale at 27820 Tamiami Trail spans thousands of items, including precious diamonds, rubies, emeralds and sapphires; semi-precious blue topaz, amethysts and pearls; a wide variety of watches (including pre-owned Rolexes), as well as rings, bracelets, necklaces and earrings made from gold, silver and platinum and set with diamonds and fine gemstones. The sale also includes a selection of diamond engagement rings offered at below wholesale cost. Discounted prices start at under $100.

 

“The U.S. jewelry sector is contracting along with the economy, and national and regional chains alike are struggling to stay afloat,” said Gary Jorgensen, vice president of Buxbaum Jewelry Advisors, which is conducting the going-out-of-business sale on behalf of the financial institution which took possession of the store’s inventory following a bankruptcy judge’s order last week. “The good news for price-conscious consumers is that this trend is creating once-in-a-lifetime buying opportunities. The Henricks Jewelers sale is a perfect example.”

 

Originally founded in 1982 by Henry Grimes and his son Rick (“Henricks” is a play on their first names) Henricks Jewelers was one of the highest-volume independent jewelers in the United States for much of its history. Its holiday promotions, in particular, attracted bargain-hunters from across southwestern Florida.

 

The retailer, which was purchased by Luxury Ventures LLC in 2003, has operated other locations in Alaska, Naples, Sarasota and Fort Myers. In recent years, however, it began losing market share to competitors, and its troubles mounted with the onset of the economic downturn, in part because it was saddled by debt acquired during its failed attempt to expand into local and national markets. Henricks filed for Chapter 11 bankruptcy protection in November 2007, emerged as a newly reorganized company in March 2008, but subsequently was unable to meet its financial obligations.

 

Sale hours are 9:30 a.m. to 6 p.m., Mon.-Sat. All forms of payment accepted.

 

About Buxbaum Jewelry Advisors/Buxbaum Group - Buxbaum Jewelry Advisors has assembled a team of jewelry professionals that have provided wholesale and retail jewelers with financial solutions for more than 20 years. It offers a wide range of services and can meet the needs of both financially distressed and profitable jewelry retailers and wholesalers. It is a division of Agoura Hills, Calif.-based Buxbaum Group, which has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories across North America.

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  • 3 months later...
Guest Timothy Winters

Total sales for the May through July 2009 period were down 9.0 percent (±0.5%) from the same period a year ago. The May to June 2009 percent change was revised from +0.6 percent (±0.5%) to +0.8 percent (±0.2%).

 

Retail trade sales were down 0.1 percent (±0.7%)* from June 2009 and 9.4 percent (±0.7%) below last year. Gasoline stations sales were down 32.5 percent (±1.5%) from July 2008 and building material and garden equipment and supplies dealers were down 14.7 percent (±2.0%) from last year.

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  • 9 months later...
Guest Happy Clam

"Walmart kicked off the fiscal year with record first quarter net sales and earnings, and I'm pleased that earnings exceeded guidance," said Mike Duke, Wal-Mart Stores, Inc. president and chief executive officer. "Our teams around the world delivered on our commitment to the productivity loop. We leveraged operating expenses for the second consecutive quarter and improved the profitability of our business.

 

"Our customers, particularly in the United States, are still concerned about their personal finances and unemployment, as well as higher fuel prices," Duke added. "Our commitment to reducing prices and managing expenses positions us well across the retail landscape."

 

Walmart will continue to grow worldwide, with a significant number of store openings expected for the second and third quarters.

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