22 Aug In 2018 the lists of store closing or downsizing seemed to be increas
250 words for each part
Part 1
- In 2018 the lists of store closing or downsizing seemed to be increasing every week. Many people were in shock and disbelief. The list for 2019 isn’t much better. Just the other day there was a notice at Franklin Park Mall in Toledo announcing that The Disney Store was closing up shop. In today’s market, it is no surprise and I am shocked some of these retailers have been open as long as they have. If you look at the list on Yahoo Finance, they state “nearly 6,000 stores are closing in 2019” (Whiteman, 2019). That sounds like a huge number. Imagine all of the jobs that people will lose. But, if you take into account the way people are shopping, what they are buying and how often, it makes sense for these companies to close up shop and devote money and energy into more online sales, or, a more geographical location to help its stability.
Payless Shoes was down the street from my home. I can’t say I have frequented there often. I may have stopped in on occasion. In “2017.they had more than 4,400 stores in over 30 countries and they filed for bankruptcy protection” (Whiteman, 2019). Now, in 2019, they are closing 2100 stores and going out of business. They were not able to compete with internet sales and other stores that could offer better prices.
I do find it interesting that with all of the stores that are closing, most of them were anchors at the malls around America. When the malls started facing financial distress – because let’s face it- malls are expensive and, the parking – do not even get me started, so did the stores for less foot traffic. The old saying I can remember in a very deep baritone voice “BUILD IT AND THEY WILL COME!” is not the thought process in today’s society. Smaller is better. Internet presence is a must. Smaller square footage means you can really fit that niche and operate efficiently. Payless chose to downsize their company in 2017 but it was not enough to keep their doors open.
Disney is downsizing and restructuring how they operate to create a “sweeping restructuring aimed at accelerating its global expansion during a period of upheaval for Hollywood” (Miller, 2018). It is no surprise the executives in charge are training their replacements and Disney has others in place to help with this transition. This will hopefully allow a better flow of revenue and less financial stress as well.
Miller, D. &. (2018, March 14). Disney restructures its business as digital disruption shakes up the media industry. Retrieved from Los Angeles Times: https://www.latimes.com/business/hollywood/la-fi-ct-disney-restructuring-20180314-story.html
Whiteman, D. (2019, April 24). These Chains Are Closing Nearly 6,000 Stores in 2019. Retrieved from Yahoo Finance: https://finance.yahoo.com/news/25-retailers-already-announced-close-132806255.html
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.