SAN FRANCISCO, CA -- A new year and predictions of significant store closings from America's largest retailers, including Best Buy, Sears and JC Penny's. From 24/7 Wa;; Street:
"For many retailers, the sales situation is so bad that it is not a question of whether they will cut stores, but when and how many. Most recently, Barnes & Noble Inc. (NYSE: BKS) decided it had too many stores to maintain profits. Its CEO recently said he plans to close as many as a third of the company’s locations.
"Several of America’s largest retailers have been battered for years. Most have been undermined by a combination of e-commerce competition, often from Amazon.com Inc. (NASDAQ: AMZN) and more successful retailers in the same areas. Here's the List...Read more