Over the last several months, many once-popular retailers have made sad announcements about their futures. Many mega-retailers have announced that they either had to file for bankruptcy or were on the brink of shutting down. The downfall of these retailers has mostly been attributed to the increasing popularity of online shopping, especially through big sites like Amazon and Walmart.
Two weeks ago, fans were saddened to see the final "Toys 'R' Us" stores shut down. Now, USA Today has reported about 11 more stores that could be in major trouble in 2018. While many of these will most likely keep at least some of their stores open, these are retailers that have admitted financial trouble, talked about moving more to online sales, or have said that they may shut down certain locations.
Sears Holdings + Sears Hometown and Outlet Stores
Sears Holdings reportedly plans on shutting down almost 100 of their remaining stores over the course of 2018. Recently, CEO Eddie Lampert took several precautions amid failing numbers, but analysts still believe that their revenue will "tumble 26% to $12.4 billion this year." Additionally, the Sears Hometown and Outlet Stores have lost 95% of its stock value in the last five years.
The popular retailer has been working on a rebrand, but increasing sales still looks bleak. Motley Fool noted that while their sales were positive for a few quarters, the growth has turned negative yet again.
Barnes & Noble
The largest brick and mortar bookstore in the U.S. is facing trouble with the increasing popularity of online book sales. Their revenue has reportedly been in trouble for the last fifteen quarters. Additionally, the company recently fired their CEO for "violations of the company's policies."
In 2013, Office Depot merged with Office Max to try to beat the competition of online sales. However, the merge didn't help enough. Reportedly, the retailer's stock has lost more than 70% of its value in the last three years alone. While the sales have been increasing in recent days, their large amount of debt continues to linger.
While the popular shoe store has suffered from online sales, the majority of their decline has come from the increase of Nike, Adidas, and Under Armour stores. The company has said that while they will close some stores, they think they can "get back on track" with some new investments.
The shoe store filed for bankruptcy last April and already closed around 900 stores nationwide. At this point, around 3,500 stores remain. While the future could be more promising for the company due to restructuring and financing, the decline of mall popularity will continue to hurt it.
This clothing store for young females had to undergo an out-of-court restructuring in February in order to avoid bankruptcy. They were able to reduce their debt significantly, but still could be facing future issues.
GNC, Vitamin Shoppe, Vitamin World
All three of these mega-popular vitamin shops are facing trouble. In the past three years, GNC's stocks have plummetted over 90%. Vitamin Shoppe has experienced six quarters of sales decreasing. Vitamin World is privately owned and has faced even more troubles than the previous two. They filed for bankruptcy last November and will be shutting down or selling all locations.
What do you think about this news? Which of these stores will you miss if they end up shutting down? Let us know! In other breaking news, a tragic shooting took place which ended in five deaths including three deaths of children under the age of 8.