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Published: Monday, March 27, 2017 @ 12:59 PM
— More than 3,500 stores could be closed within the year, in what some experts are coining the “retail apocalypse.”
Major retailers across the country have taken a hit as consumers shift their spending habits in the age of e-commerce. Several have filed bankruptcy, closing all brick-and-mortar stores, including Bebe and The Limited.
The effects has impacted Ohio shopping centers and malls, leaving some retail space vacant after closures. Here’s the list of retail stores that have announced closures:
• 500 to 1,000 stores: PAYLESS — The Kansas-based retailer is discussing restructuring plans that would include closing stores. It could also close file for bankruptcy.
• 552 stores: RADIO SHACK — General Wireless Operations, the parent company of RadioShack, is in the process of restructuring the electronics retail company. This is the second time in two years that RadioShack has filed bankruptcy.
• 250 stores: THE LIMITED — The parent company of women’s clothing store The Limited has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Court, and the store website has been taken offline.
• 240 stores: FAMILY CHRISTIAN — Christian faith-based gift and book store chain Family Christian announced it’s closing all of its 240 stores nationwide, including four locations in the area.
• 170 stores: BEBE — The women’s clothing retailer has filed for bankruptcy and closed all store locations.
• 160 stores: CROCS
• 150 stores: GAMESTOP — GameStop, a video game and consumer electronics retailer, will close at least 150 stores after reporting another year of declined sales. The Texas-based company released its report of sales and earnings for 2017 last week, and projected a grim 2017 for some stores.
• 138 stores: JC PENNEY — J.C. Penney announced the locations of 138 stores it plans to close as part of a previously announced consolidation, including four in Ohio. The store nearest to Dayton on the list is located in St. Mary’s Square shopping center in St. Mary’s.
• 120 stores: BCBG — BCBG Max Azria Group announced the company has taken the next step in the restructuring of its brands. The company, which owns BCBGMAXAZRIA, said Wednesday it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code
• 110 stores: AMERICAN APPAREL
• 108 stores: KMART— The parent company of Sears and Kmart warned there is “substantial doubt” that the retailers can continue to survive. The company, which lost $2.2 billion in sales last year, announced earlier this year that it would close 150 Sears and Kmart stores.
• 88 stores: HHGREGG — Appliance store hhgregg is closing 88 stores and laying off 1,500 employees, and four locations in Ohio will be impacted.
• 70 stores: STAPLES — The office supply store reported a $548 million loss in the fiscal fourth quarter of 2016.
• 70 stores: CVS
• 68 stores: MACY’S— The retailer announced it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season.
• 60 stores:ABERCROMBIE & FITCH — Abercrombie & Fitch Co. has eliminated 150 positions at the corporate level, a spokeswoman confirmed with this news organization today.
• 60 stores: GUESS
• 42 stores: SEARS — The company, which lost $2.2 billion in sales last year, announced earlier this year that it would close 150 Sears and Kmart stores.
• 30 stores: GANDER MOUNTAIN — The outdoor sporting goods retailer, which sells guns and rifles, operates 162 and announced that 32 “underperforming” stores will shut down in the next several weeks. No Ohio stores were on that list of impacted stores.
FIVE FAST BUSINESS READS
Published: Monday, April 23, 2018 @ 4:45 PM
DAYTON — More 1,000 people and over 160 employers will be at the 2018 Spring Job Fair Wednesday, April 25 at the University of Dayton Arena.
Government agencies and private sector companies spanning construction, engineering, education, health care, information technology, manufacturing, professional services and transportation will be on hand, according to organizers.
“People are in big demand now and this gives a a nice opportunity for the job seeker to meet with the hiring people for each company,” said Mark S. Anderson, an event organizer with Montgomery County Development Services.
The county agency and Wright-Patterson Air Force Base will host the fair.set from 1 p.m. to 4 p.m., which is open to both civilians and military personnel. “It’s open to all residents in the entire Miami Valley,” he said.
To register, log onto OhioMeansJobs.com/montgomery .
Montgomery County and Wright-Patterson plan a similar fall jobs fair in September at the Nutter Center at Wright State University, but a date has not yet been scheduled, Anderson said.
MORE MILITARY NEWS
Published: Monday, April 23, 2018 @ 4:24 PM
Macy’s will open an outlet store at the Dayton Mall in June.
The department store will open its first Dayton-area Backstage outlet store at the Dayton Mall on June 6. The new outlet store will have approximately 12,900 square feet of dedicated retail space and will live on the second level inside the full-line Macy’s. The grand opening will be celebrated with giveaways for the first 200 customers and special events throughout the day.
» TRENDING COVERAGE: Macy’s ‘fine-tuning’ staffing at some stores
“Our customers are excited about the Macy’s Backstage shopping experience,” said Michelle Israel, Macy’s Senior Vice President of Off Price. “Macy’s Backstage Dayton Mall was designed to bring great deals and the fun of the hunt into our existing location. If you’re looking for a fashion update, a last-minute gift, or a special treat for yourself, your home or your pet, we have you covered.”
Seven free-standing Backstage stores opened in the Northeast and San Antonio, TX in 2015 and 2016. In the subsequent years, Macy’s has opened approximately 63 store-within-store locations, allowing customers to shop both merchandise offerings in one trip to their local mall. There are currently 70 Macy’s Backstage locations across the U.S.
The Dayton Daily News was the first to report about the Backstage outlet coming to the region. The estimated market value of the completed project is $75,000.
FIVE FAST BUSINESS READS
Published: Monday, April 23, 2018 @ 3:29 PM
A vegetable item sold in Ohio ALDI stores has been recalled.
McCall Farms Inc. is voluntarily recalling a limited amount of cases of Happy Harvest Spinach in 13.5 ounce cans as a precautionary measure due to the potential presence of peanuts resulting from product mislabeling, the U.S. Food and Drug Administration announced.
The product was available for purchase in the following states: Florida, Georgia, Iowa, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Ohio, South Carolina, South Dakota, Tennessee, Virginia, Wisconsin, and West Virginia. The product was also available for purchase to ALDI customers in the Atlanta and Chicago areas through the company’s partnership with Instacart, a grocery delivery service.
All affected product has been removed from its stores. ALDI is the only retailer with this product. The product was packaged in 13.5 oz cans with the lot code of A23IX. The best-by date is January 2021. The UPC code is 041498131289.
FIVE FAST BUSINESS READS
Published: Monday, April 23, 2018 @ 8:52 AM
— In the wake of last week’s fatal Southwest Airlines accident, about 500 people tied to two regional companies are involved in inspecting engine fan blades, making sure those components are airworthy.
Those companies are also supporting investigations into why the Southwest aircraft engine blew apart last week, killing a passenger on a New York-to-Dallas flight.
CFM International — a joint venture between French firm Safran and GE Aviation headquartered in West Chester Twp. in Butler County — late last week issued a service bulletin to operators of CFM56-7B engines, which power certain Boeing 737 airplanes. The bulletin calls for inspections of fan blades on engines that have been in service for a long time.
“The big effort right now is the 500 GE and Safran team members involved in assisting airlines with the fan-blade inspection program,” said a spokesman for GE Aviation, Rick Kennedy.
The European Aviation Safety Agency and the Federal Aviation Administration have each issued emergency airworthiness directives calling for inspections of fan blades on CFM56-7B engines.
This has wide ramifications.
Southwest Airlines is cancelling about one percent of its flights due to the need for inspections. About 40 flights have been impacted, a media report said.
Last week, an affected Southwest Boeing 737 took off Tuesday from New York, headed for Dallas. About 20 minutes into the flight, at an altitude of about 32,500 feet, a fan blade broke off the engine and shrapnel shattered a window.
#FAA Statement (1/4): The FAA issued an Emergency Airworthiness Directive (EAD) https://t.co/NTqXpA3PY4 that requires operators to inspect fan blades on certain CFM56-7B engines within 20 days.— The FAA (@FAANews) April 20, 2018
Full FAA statement available at https://t.co/CfDPmo5EOT.
A passenger on that flight, Jennifer Riordan, 43, was sucked part of the way out of the broken window and pulled back inside by fellow passengers.
The engine in question is assembled in the GE-Evendale plant and by Safran (previously Snecma )in Villaroche, France.
It looks like the Federal Aviation Administration will require inspections of certain engines made by a Butler County, Ohio company, CFM International. https://t.co/9JzldOxXe0— Thomas Gnau (@ThomasGnau) April 19, 2018
CFM, which has offices in West Chester Twp., is a joint venture of French firm Safran and GE.
Jamie Jewell, a GE Aviation spokeswoman, said the CFM engine has been in service since 1997 and production has been gradually phasing out as GE and CFM ramp-up introduction of the new LEAP engine.
"None of that is as a result of SWA (Southwest Airlines) incident," Jewell said in an email.
The engine's fan blade is produced by Safran, but the National Transportation Safety Board is leading the investigation. Jewell said the companies do not expect to rely on the University of Dayton Research Institute (UDRI) for any post-accident engine component testing at this time.
UDRI is involved in testing of engine casings or housings to help determine how durable those components are.
CFM sent a team of technical representatives to the site to assist NTSB and government investigators in their probe of what happened on the Southwest flight.
Citing international conventions governing these investigations, Jewell said she can't comment on whether any causes have been identified in the Southwest accident.