The Retail Apocalypse Is Not as Bad as It Seems [The Motley Fool]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: The Motley Fool
The Retail Apocalypse Is Not as Bad as It Seems It's only mid-March, and U.S. retailers have already announced close to ,000 store closures since the beginning of the year. That compares to , during all of 08, according to Coresight Research. This data point may make it seem like the retail apocalypse has taken a dramatic turn for the worse in 09. That said, store closure announcements tend to be clustered near the beginning of the year, as retailers assess their position following the busy holiday shopping season. J.C. Penney will close at least 7 stores this year. Image source: J.C. Penney. Moreover, the total number of store closures is not necessarily the best metric for tracking the impact of the retail apocalypse on malls and shopping centers across the country. In fact, the pace of store closures in 09 is very manageable compared to the demand for new space. Not all store closures are created equal In 07 and 08, the retail sector was rocked by a huge wave of department store cl
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