 iReport.com is a user-generated site. That means the stories submitted by users are not edited, fact-checked or screened before they post. Only stories marked "On CNN" have been vetted for use in CNN news coverage. Learn more » |
 |
Appeared on 
iReports used in CNN's news coverage
Black in America
Join the conversation as CNN takes another hard look at the myths, the facts, the stereotypes and the realities of being black in America.
tell your story like a pro
keep up with what's new and what's coming
iReport roundtable: Thursday 2:30 p.m. ETInspired by Lady Liberty
CNN.com wins Edward R. Murrow Award
Just Say No to Gift Cards this Holiday Season
Giftcards, layoffs, store closures and the holiday shopping season right around the corner. The world economy is doing that counter clockwise swirl towards the bottom of the drain and I began wondering what bargains might be out there this holiday shopping season. What I found wasn't what I was expected. Browsing a couple of web sites and news sources I started to find the outlook was not bright for the retailers or the shoppers this season. Financial losses piling up on top of the downturn in consumer confidence is being mixed with just a bit of continued pessimism resulting in store closures and layoffs instead of overstock and seasonal hiring. Only adding to the continued decline in our economic outlook. Some of the sites, forums, news sources I researched all pointed me to the following recommendation: If you have gift cards now would be the time to cash them in. Here is some of the information that I was able to gather regarding closures and layoffs: CLOSINGS AND LAYOFFS Ann Taylor closing 117 stores nationwide. According to a company spokeswoman. The company hasn't revealed which stores. Bombay Company: The company unveiled plans to close all 384 U.S.-based Bombay Company stores. Dillard's said it will continue to focus on closing under performing stores, reducing expenses and improving its merchandise in 2008. Eddie Bauer to close more stores following the 27 already closed in the first quarter. Fashion Bug, Lane Bryant, Catherines is closing 150 stores nationwide. Foot Locker to close 140 stores. In the company press release and during its conference call with analysts, it did not specify where the future store closures - all planned in fiscal 2008 - will be. Gap Inc. closing 85 stores. In addition to its namesake chain, Gap also owns Old Navy and Banana Republic. The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand. Macy's - Closing 9 stores Pacific Sunwear will close its 154 D.E.M.O. stores after a review of strategic alternatives for the urban-apparel brand. Pep Boys - Closing 31 stores Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. Talbots, J. Jill announced about a month ago, that it will be closing all 78 of its kids and men's stores. Now the company says it will close another 22 under performing stores. The closures will occur this fiscal year, according to a company press release. Wilsons the Leather Experts - Closings announced - Check locally I would check locally prior to giving gift cards this holiday season from any of these stores or from any store for that matter. Edit to Correct/add: Communications received from KB Toys: " We emerged from bankruptcy in August 2006 and today are a healthy expanding company. We just opened 30 stores recently and we continue to serve the families that shop at the more than 460 locations nationwide. " Geoffry Webb. In an interview published in The Patriot Ledger (Quincy, Mass.) Oct 20th, 2008: Mr.Webb said this is the first time the company has opened additional stores to expand during the holiday shopping season in at least five years. He said KB focused on high-traffic retail centers that do not already have a toy store. "There's a possibility we may keep some of the locations open, but the plan is that they are temporary stores," Webb said. The stores will range in size from 3,000 square feet to 5,000 square feet, and about 20 people will work at each location.
In response to assignment: Are you worried about losing your job?
|
Log in to report violation
|
del.icio.us
reddit
StumbleUpon
E-mail
Tweet
Facebook
Log in to Comment
Comments
