The Economic Danger of the Retail Store Closing List

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Retail store closings are mounting. I will try to keep this updated. The list is updated through the end of 2010 with a link to 2011 stats as well. Bear in mind that this list has contributed to massive unemployment, although the loss of manufacturing jobs has also contributed.

My issue with government statistics is that, for example, third quarter GDP is about to be revised down from 3.5 percent to 2.8 percent and now down to 2.2 percent. That is huge. We also know that tax receipts are way down for the states, declining 9.2 and then 8.5 percent in the most recent data. These two facts, coupled with the store closings, make the government's stats regarding flat or slightly increasing sales suspect to me and even a boldfaced lie.

From the site above:

"But a closed store is ignored in the month it fails, and the traffic that shifts FROM it to other stores pumps their comps .vs. the previous month. Therefore, as stores close it looks like retail activity actually increased when in fact at best it was flat...

...If you were wondering how we can possibly have "improving" retail sales data when sales tax information from the states refuses to reflect this alleged "improvement" in retail sales, along with how states can post double-digit sales tax declines while "retail sales" are down by a much smaller percentage, you now understand. The Census Bureau intentionally lies by omitting the "zero" for a store in the month it closes - that loss of sales is never reported - not even retrospectively in a revision the next month."

Since we have massive store closings, this number for the retail sales survey is incorrect. This is just one more manipulation of data to help the stock market for benefit of the investor class by the government.

405 Blockbuster

633 Borders

200 GameStop

160 f.y.e.

See the link above for the complete projected 2011 list.
117 Anchor Blue

117 Foot Locker

100 Talbot's

71 A.J. Wright

69 Metropark

60 Rite Aid

50 Abercrombie & Fitch

50 Hot Topic

2010 Retail Industry Store Closings, Including Downsizings, Liquidations, and Chains Going Out of Business: (Updated 10-12-10)

2,415  Movie Gallery(Hollywood Video, Game Crazy)

1,000   Quizno’s

690    Blockbuster

200    Waldenbooks (Borders)

175    Ford Lincoln Dealerships

173    Jones Apparel

149    f.y.e.

145    Men’s Wearhouse

120    Charming Shoppes

117    Foot Locker

117    The Walking Company

114    Payless

100    AFC (Popeye’s)

100    GameStop

90      Popeye’s

87      Liz Claiborne Outlets

80      Gap

79      Penn Traffic

72      Ann Taylor

60      Abercrombie & Fitch

58      Rite Aid

57      Genesco (Journeys, Underground Station, Hat World, Johnston & Murphy)

50      B. Dalton (Barnes & Noble)

50      Limited

More are found at About.com

Here is the alphabetized link from About.com:

Here is the list with most stores to least with the link for all the stores at the bottom of the list:

960 Blockbuster

789 Chrysler

567 Circuit City

461 KB Toys

450 Movie Gallery (Game Crazy, Hollywood Video)

365 Ritz Camera

273 Starbucks

287 Goody's

265 Jones Apparel Group (2009 & 2010)

240 Waldenbooks

191 Zale Corporation

175 Van Heusen

163 Ann Taylor (by 2010)

161 InkStop

160 Family Dollar

150 Popeye's (AFC Enterprises)

135 S&K Famous Brands Inc.

130 Advance America

129 Boater's World

125 F.Y.E. (Trans World Entertainment)

121 Eddie Bauer

118 Office Depot

117 Rite Aid

104 Finlay Enterprises

102 Payless Shoes

100 Albertsons

100 Charming Shoppes

100 Gap, Inc.

98 Club Libby Lu (Saks)

85 NextCen Brands (Great American Cookies, MagieMoo's, Marble Slab Creamery, Pretzelmaker)

84 Samsonite

81 Saab Dealerships

77 Game Stop

75 J. Jill

75 Signet Jewelers

70 Famous Footwear (Brown Shoe Co.)

60 Arby's

60 Collective Brands

60 Dominos

59 Advance Auto Parts

The rest of the list and other store closing information can be found here.