SOME MORE OF YOUR FAV STORES ARE CLOSING IN 2010

The worst seems to be over, but retailing is still a tough business. These companies closed a lot of stores in 2009, and are likely to be closing more this year. More reasons for families to fall apart over unpaid mortgages and bills.

Waldenbooks/Borders
2009 Store closures: 110
Outook: Amazon.com continues to wreak havoc on traditional booksellers. The Borders unit says it will close an estimated 240 stores during the three months ending January 31, for a total of 350 stores over the past 13 months, close to 70 percent of all outlets. Retail analysts at Davidowitz & Associates give Borders Group, plagued with losses three years running, a 50-50 chance of survival.


Blockbuster
2009 store closures: 300

Outlook: Part of a two-year plan to close 960 stores, about 13 percent of Blockbuster’s 7,100 locations in the Americas. The company is trying to reformulate with kiosks and on-demand services that focus on hot new releases, but experts say the costs associated with the transformation will be too expensive to pull off without a bankruptcy. Shares have plunged from $10 to under a dollar a share since 2005.

Zale Corp.
Fiscal 2009 Store closures: 218

Outlook: Jewelry has been hit very hard by the recession, with an estimated 2,000 stores closing last year throughout the industry. No official word on additional closings in 2010.

Starbucks
2009 Store closures: 566 (fiscal 2009, 12 months ended Sept. 27)

Outlook: Last year’s cuts were part of plan to close 800 stores over two years, or about 10% of the total. Starbucks is ridding itself of excess and is poised to face an economic recovery with a stronger balance sheet.

KB Toys
2009 Store closures: 461

Outlook: Poor. Another mall-based Wal-Mart. Around since 1922, the company filed for bankruptcy in December 2008. It just stopped honoring gift cards this month.

If they would just lower their prices, they wouldn’t have to close so many stores, even in the recession they still have sky-rocket prices for the simplest ~ish. Starbucks is still selling $4 for a regular sized coffee.

SOME MORE OF YOUR FAV STORES ARE CLOSING IN 2010