This article details some of the cutbacks:
- Home Depot is closing 15 stores and reducing by 50 the number of new stores it will open
- Foot Locker 140
- Ann Taylor 117
- Zales 100
- Charming Shoppes 150
- Wison's 158
It isn't all gloom and doom, however. This item tells us that Steve & Barry's keeps expanding at a tremendous rate.
In a year when many specialty retailers are cutting back on openings and shuttering underperforming stores, cheap, fashionable Steve & Barry's is on an expansion roll.The chain will open 70 stores this year, adding to its current 264 locations.
What's S&B's secret? Not a secret, really -- it's in the headline of the story: Cheap and chic fuels Steve & Barry.
It's no surprise that Foot Locker is closing 140 stores when Steve & Barry's is selling a decent pair of sneakers that appeals to the same demographic for ... get ready for this ... $8.98.