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Quantifying the Closings

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I've linked to a ton of announcements of retailers closing stores. Here's the first attempt I've seen to put all of the closings into a broader context. ICSC is quoted in this piece. They're saying first quarter closings are up and projecting the industry will see the largest number of retailer closings since 2004.

Here's a copy of the chart that ran with the story:

closings

The story also notes that unlike last year--when many of the closings were in the home furnishing sector--this year trouble has emerged among apparel retailers.

But this year, the announcements of store closings are spreading to less-expected areas, with apparel being hit hardest, Connolly said. Of the 1,600 announced store closings this year, 650 are in the apparel sector.

So far, companies have mostly decided to shut down offshoot brands that are struggling, Connolly said. For instance, Talbots is closing all 66 of its Talbots Kids stores as well as its 12 Talbots Men's locations. Pacific Sunwear is closing its demo chain, which sells urban-inspired apparel, including the Mission Valley location.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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