Wednesday, September 23, 2015

Decelerating News

The Great Atlantic & Pacific Tea Co. (A&P) is seeking to dispose of its remaining 153 locations, in addition to its original plans to close 25 stores and sell 118. The properties consist of Food Emporium locations in Manhattan; A&Ps in Connecticut, New York and New Jersey; Food Basics in New Jersey, New York and Pennsylvania; Pathmarks in Delaware, New Jersey, New York and Pennsylvania; Superfresh locations in Delaware, Maryland and Pennsylvania; Waldbaum's stores in New York; and Best Cellars/Wines & Spirits in Connecticut, New Jersey and New York...Stage Stores plans to close 90 stores. Houston-based Stage Stores runs 850 department stores in 40 states under the Bealls, Goody’s, Palais Royal, Peebles and Stage names...Hudson Trail Outfitters Ltd., one of Washington’s oldest retailers, is closing its remaining 4 stores, blaming the changing retail landscape...Sears Hometown & Outlet Stores Inc. plans to close 40-50 underperforming stores by the end of the year, on top of 63 underperforming locations closed in the first half of 2015...Surf and skateboarding shop Quiksilver, which operates some 700 retail stores, is seeking bankruptcy protection...Haggen, the Washington-based grocer which not long ago acquired 146 stores being divested by Albertsons, is seeking bankruptcy protection...Macy's plans to shut as many as 40 more stores in early 2016, picking up the pace of its closings. The chain has yet to identify the stores it will shutter. Over the past 5 years combined, the company has closed 52 stores and opened 12 new ones. It also plans to open 6 new Macy's Backstage locations to sell discounted merchandise, sometimes in the locations of stores it closed.

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