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Re: Staples Slides As Strip Malls Head Towards Extinction

By: keystone in FFFT | Recommend this post (0)
Thu, 22 May 14 1:55 AM | 71 view(s)
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Msg. 63897 of 65535
(This msg. is a reply to 63896 by killthecat)

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Good Afternoon KTC!

The redefinition of retailing continues so it seems.

I live in a suburb about fifteen miles from Midtown Manhattan. At least half of the stores on our main street are sitting empty without tenants.

Like everywhere else in America I can get a better price on just about anything I want online and have it delivered in one or two days for free.

What is really going on?

Is it the perfect storm destroying our retail model?
Four dollar gas. Convenience of the internet.
Lower prices.

Our town is discussing rezoning some shopping areas into residential.



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The above is a reply to the following message:
Staples Slides As Strip Malls Head Towards Extinction
By: killthecat
in FFFT
Thu, 22 May 14 1:38 AM
Msg. 63896 of 65535

Shares of Staples (SPLS) are getting reamed this morning after the struggling office supply retailer announced first quarter earnings fell short of analyst estimates and cautioned for the current period.

In March the company announced plans to close 225 of its U.S. stores.

Earlier this month Staples competitor Office Depot said it will close 400 of its locations by the end of 2016. Between the two chains that suggests somewhere between 12 and 13 million feet of retail mall and strip mall property hitting the market in the next two years.

With Barnes & Noble still taking up more than 17 million feet of space, and some Circuit City and Borders locations still sitting empty, the transition taking place in American suburbs is still picking up steam.



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