Will appliance giants Sears and hhgregg make it through 2017?
It is only March, and already we have witnessed the increasing volatility of the retail industry. This year alone The Limited, Wet Seal, BCBG, and American Apparel have all filed for bankruptcy, and many other companies remain on the chopping block. In an attempt to avoid being next on the list appliance retailer hhgregg is taking drastic measures and laid out a plan this week that they hope will make the company profitable again.
Thursday hhgregg announced that the strategy would include closing three distribution facilities and 88 of their 226 stores that are underperforming, which is roughly 40% of their locations altogether. CEO Robert J. Riesbeck said in a press release, “This is a proactive decision to streamline our store footprint in the markets where we have been and will continue to be, important to our customers, vendor partners, and communities. We feel strongly that the markets we will remain in are the right ones for our customers and our business model.”
The states where stores are expected to close are Alabama, Delaware, Florida, Illinois, Georgia, Louisiana, Maryland, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. Distribution and delivery centers to close are in Maryland, Florida, and Pennsylvania.
Hhgregg has been in financial trouble for some time now. Their stock value has declined more than 60% over the last year, and they were even warned by the New York Stock Exchange that they could be delisted for failing to meet the minimum listing price requirement. Their financial trouble is very similar to that of competitor Sears.
It is no secret that Sears has been hanging on by a very thin thread over the last few years, and it appears that thread is about to spilt. They announced the closing of 150 stores to stop the hemorrhage of cash, but it could still prove to be too little too late.
Both Sears and hhgregg were considered top appliance stores during their hay days, but the continued poor economic climate and increase of competition has resulted in both stores losing their footing and stumbling into downward spirals financially.
Will these one-time appliance giants be able to make it through 2017? Because the question is no longer if, but when these companies will be forced to throw in the towel.
http://www.thomasdishaw.com/economy/will-appliance-giants-sears-hhgregg-make-2017/
It is only March, and already we have witnessed the increasing volatility of the retail industry. This year alone The Limited, Wet Seal, BCBG, and American Apparel have all filed for bankruptcy, and many other companies remain on the chopping block. In an attempt to avoid being next on the list appliance retailer hhgregg is taking drastic measures and laid out a plan this week that they hope will make the company profitable again.
Thursday hhgregg announced that the strategy would include closing three distribution facilities and 88 of their 226 stores that are underperforming, which is roughly 40% of their locations altogether. CEO Robert J. Riesbeck said in a press release, “This is a proactive decision to streamline our store footprint in the markets where we have been and will continue to be, important to our customers, vendor partners, and communities. We feel strongly that the markets we will remain in are the right ones for our customers and our business model.”
The states where stores are expected to close are Alabama, Delaware, Florida, Illinois, Georgia, Louisiana, Maryland, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. Distribution and delivery centers to close are in Maryland, Florida, and Pennsylvania.
Hhgregg has been in financial trouble for some time now. Their stock value has declined more than 60% over the last year, and they were even warned by the New York Stock Exchange that they could be delisted for failing to meet the minimum listing price requirement. Their financial trouble is very similar to that of competitor Sears.
It is no secret that Sears has been hanging on by a very thin thread over the last few years, and it appears that thread is about to spilt. They announced the closing of 150 stores to stop the hemorrhage of cash, but it could still prove to be too little too late.
Both Sears and hhgregg were considered top appliance stores during their hay days, but the continued poor economic climate and increase of competition has resulted in both stores losing their footing and stumbling into downward spirals financially.
Will these one-time appliance giants be able to make it through 2017? Because the question is no longer if, but when these companies will be forced to throw in the towel.
http://www.thomasdishaw.com/economy/will-appliance-giants-sears-hhgregg-make-2017/
Today at 5:35 am by Rocky
» Parliamentary Finance: The grant for school and university students may not be sufficient
Today at 5:34 am by Rocky
» Targeting restaurants threatens the investment environment.. A “negative” circle surrounds Iraq and
Today at 5:33 am by Rocky
» Researcher: The defection of MPs has put an end to the myth of “possession of the Sunni majority”
Today at 5:30 am by Rocky
» Al-Sudani: Tax accounting procedures have witnessed a leap and we are heading towards a qualitative
Today at 5:28 am by Rocky
» The Publishing Court confirms: We dealt with about 30 files related to substandard content
Today at 5:27 am by Rocky
» Removing overflowing homes threatens millions of citizens.. “New cities” are built for the poor and
Today at 5:26 am by Rocky
» An economist explains the necessity of tourism investment in historic Samarra
Today at 5:25 am by Rocky
» Source: The Sunni blocs agreed on a compromise candidate and it will pass
Today at 5:23 am by Rocky
» Parliamentary Finance: Failure to make a budget transfer will contribute to reducing the salaries of
Today at 5:22 am by Rocky
» Minister of Electricity: We will implement a broad campaign to remove violations soon
Today at 5:21 am by Rocky
» A deputy identifies two paths to resolve the “crisis” of the Speaker of Parliament
Today at 5:20 am by Rocky
» Canada makes a decision regarding its diplomatic presence in Iraq
Today at 5:18 am by Rocky
» Before distributing salaries...fire engulfs the Erbil Bank building
Today at 5:13 am by Rocky
» Judge Faiq Zaidan... How did he protect the political system from the abyss?
Today at 5:11 am by Rocky
» Canada intends to reduce its diplomatic influence in Iraq
Today at 5:10 am by Rocky
» US, 5 Eyes Partners Issue Fresh Warnings About China Recruiting Former Western Military Pilots
Yesterday at 4:57 pm by Bama Diva
» It includes 4 stages.. The Ministry of Interior determines the impact of digital transformation on c
Yesterday at 3:24 pm by Rocky
» The Minister of Industry participates in the work of the 28th session of the General Assembly of the
Yesterday at 3:22 pm by Rocky
» Next Saturday... the Sudanese will be on a southern tour to open oil projects
Yesterday at 3:19 pm by Rocky
» An Iraqi minister withdraws from an international conference because of Israel
Yesterday at 3:14 pm by Rocky
» The judiciary responds regarding the activation of the Doctors Protection Law
Yesterday at 3:13 pm by Rocky
» utube 6/3/24 MM&C IQD Update-Iraq Dinar-Accelerate- Digital-Financial-Banking Reforms-Best Budget
Yesterday at 8:14 am by Rocky
» utube 6/4/24 MM&C IQD Update-Iraq Dinar-2024 Budget Passed-Gazzette-Timing-197 Companies Cease Dol
Yesterday at 8:13 am by Rocky
» utube 6/6/24 MM&C Iraq Dinar- IQD Update-Tripartite Budget-Economic Decision-D
Yesterday at 8:12 am by Rocky
» Demanding the government to reveal the details of its meeting with Kuwait and Saudi Arabia
Yesterday at 8:06 am by Rocky
» An economist reveals the positive side of the budget
Yesterday at 8:04 am by Rocky
» The Housing Fund launches new loans after an agreement with the Central Bank
Yesterday at 8:00 am by Rocky
» The President of the Republic: The relationship between the federal government and the regional gove
Yesterday at 7:54 am by Rocky
» Parliamentary Finance: The new salary scale is still under study
Yesterday at 7:52 am by Rocky
» The central bank sells more than $275 million at auction today
Yesterday at 7:50 am by Rocky
» Kurdish MP: The region’s share in the budget is fair and we are happy to see it passed
Yesterday at 7:47 am by Rocky
» Abdel Wahid: The region’s budget allocations do not fit its reality, and the smuggled funds are no l
Yesterday at 6:19 am by Rocky
» Al-Sudani: Understandings with France amounting to one billion euros to build industrial projects...
Yesterday at 6:16 am by Rocky
» FinTech in Iraq: How is Iraq reshaping its financial future?
Yesterday at 6:14 am by Rocky
» A new rise in dollar prices in Baghdad and Erbil
Yesterday at 6:12 am by Rocky
» The US State Department calls on the Iraqi government to hold accountable those responsible for targ
Yesterday at 6:11 am by Rocky
» The authorities in Kurdistan warn against immigration abroad by closing camps for displaced people i
Yesterday at 6:09 am by Rocky
» Oil announces an increase in the rate of electronic trading
Yesterday at 6:08 am by Rocky
» The Minister of Education opens a job fair with the participation of 40 institutions specialized in
Yesterday at 6:06 am by Rocky
» What are the rates of completion on the “Development Road”?... Al-Kaabi: We will develop new highway
Yesterday at 6:04 am by Rocky
» The oil export file prompts a Kurdish delegation to visit Baghdad next week
Yesterday at 6:03 am by Rocky
» Baghdad intends to transform its entrance controls into electronic smart ones
Yesterday at 6:01 am by Rocky
» It confirmed its commitment to money laundering standards.. The Iraqi National Bank: We do not deal
Yesterday at 6:00 am by Rocky
» America: Attacks on our companies harm Iraqi workers and capital
Yesterday at 5:59 am by Rocky
» Iraq announces a decrease in salinity in the marshes
Yesterday at 5:58 am by Rocky
» Economic warning from the Basra-Aqaba pipeline.. How much is its value?
Yesterday at 5:57 am by Rocky
» In exchange for money...thwarting attempts to sell ministerial questions in 3 Iraqi provinces
Yesterday at 5:56 am by Rocky
» Customs: We closed the exemption corruption and are pursuing violators
Yesterday at 5:54 am by Rocky
» A massive campaign to lift violations of electricity
Yesterday at 5:53 am by Rocky
» The Prime Minister sponsors an international agreement to finance the private sector
Yesterday at 5:52 am by Rocky
» Wait in the health professions law
Yesterday at 5:50 am by Rocky
» Construction of 3 dams in Kurdistan
Yesterday at 5:49 am by Rocky
» Parliament: We support the initiative to increase housing units
Yesterday at 5:48 am by Rocky
» The “National Contract” calls for accelerating the selection of the Speaker of Parliament
Yesterday at 5:47 am by Rocky
» Investment law in the balance of the economy
Yesterday at 5:44 am by Rocky
» Al-Rafidain: Digital transformation is proceeding according to set timings
Yesterday at 5:43 am by Rocky
» Head of the Customs Authority told {Al-Sabah}: We closed the exemption corruption and are prosecutin
Yesterday at 5:41 am by Rocky
» Al-Sudani: The scourge of corruption is no different from terrorism and must be fought
Yesterday at 5:39 am by Rocky
» Completing all sections and bridges on the Baghdad-Kirkuk road from the Tuz Khurmatu side
Yesterday at 5:36 am by Rocky
» Foreign oil companies in Kurdistan hosted by Baghdad to solve the oil crisis “face to face”
Yesterday at 5:34 am by Rocky
» President Rashid: Iran is a very important neighbor of Iraq and our relationship with it is good and
Yesterday at 5:32 am by Rocky
» Warnings and fears about the Basra-Oqba project: Its goal is normalization with Israel
Yesterday at 5:30 am by Rocky
» The Iraqi Trade Bank warns of fake pages bearing its name and logo
Yesterday at 5:28 am by Rocky
» Despite Al-Maliki's remarks, the State of Law bloc rules out challenging the 2024 budget schedules
Yesterday at 5:26 am by Rocky
» Revealed in numbers the completion rates achieved in the Al-Faw Grand Port projects... Transport for
Yesterday at 5:25 am by Rocky
» He confirmed that there is high coordination with the Journalists Syndicate regarding freedom of opi
Yesterday at 5:24 am by Rocky
» An environmental specialist points out the dangers of the lack of water imports to Iraq
Yesterday at 5:23 am by Rocky
» The Iraqi Communist: Voting on the budget schedules before approving the final accounts...a violatio
Yesterday at 5:22 am by Rocky
» Everything is polluted in Iraq: the air, the water and the land
Yesterday at 5:21 am by Rocky
» Parliamentary Security reveals the latest developments in the joint committee between Iraq and the i
Yesterday at 5:19 am by Rocky
» Oil explains the details of exploring oil and gas fields in the western regions
Yesterday at 5:18 am by Rocky
» Al-Sumaria: Strict judicial measures against telecommunications companies that violate instructions
Yesterday at 5:16 am by Rocky
» Trade exchange between Iranian Azerbaijan and the Kurdistan Region rises to one billion dollars
Yesterday at 5:14 am by Rocky
» Finance announces financing the salaries of Kurdistan Region employees due for the month of May
Yesterday at 5:13 am by Rocky
» American report: Saddam misled Washington and the invasion of Iraq was a disaster
Yesterday at 5:11 am by Rocky
» Al-Sudani and Al-Hakim discuss fighting corruption and improving service conditions
Yesterday at 5:10 am by Rocky
» The Prime Minister opens the first forum of governorate councils
Yesterday at 5:09 am by Rocky
» Al-Sudani renews his government’s support for the work of the provincial councils
Yesterday at 5:07 am by Rocky
» Washington calls on Baghdad to hold accountable those targeting American companies: The attacks targ
Yesterday at 5:06 am by Rocky
» The Housing Fund intends to grant 17,000 loans during 2024
Yesterday at 5:05 am by Rocky
» Distribution of salaries before the Eid holiday... Finance surprises employees
Yesterday at 5:03 am by Rocky
» More than 12 million bank accounts to date
Wed Jun 05, 2024 8:14 am by wciappetta
» Al-Rafidain: About 1,502 loans were issued to those registered under the Riyada initiative since las
Wed Jun 05, 2024 7:59 am by Rocky
» Al-Maliki: There is no intention to approve the general amnesty law
Wed Jun 05, 2024 7:57 am by Rocky
» Al-Sudani: Understandings with France amounting to one billion euros to build industrial projects...
Wed Jun 05, 2024 7:48 am by Rocky
» Al-Sudani: The available factories for construction materials cover only a quarter of the need
Wed Jun 05, 2024 7:46 am by Rocky
» An economist indicates the absence of the private sector in the 2024 budget
Wed Jun 05, 2024 7:44 am by Rocky
» Central Bank of Iraq sales exceeded $270 million at today’s auction
Wed Jun 05, 2024 7:43 am by Rocky
» The Iraqi budget is moving toward “publishing and disbursing” without presidential approval
Wed Jun 05, 2024 7:42 am by Rocky
» A government parliamentary agreement regarding residents of slums
Wed Jun 05, 2024 7:41 am by Rocky
» Al-Rafidain: Implementing the comprehensive banking system in the White Palace branch
Wed Jun 05, 2024 6:22 am by Rocky
» Sudanese sponsors the signing of a cooperation agreement between the Trade Bank and the German Expor
Wed Jun 05, 2024 6:17 am by Rocky
» Financial inclusion in Iraq: a success story that defies the odds
Wed Jun 05, 2024 6:14 am by Rocky
» Parliamentary Finance: All revenues are not enough to meet the country’s needs, and the budget prohi
Wed Jun 05, 2024 6:13 am by Rocky
» Iraqi Business Council: The budget schedules are flexible and include sacred paragraphs
Wed Jun 05, 2024 6:11 am by Rocky
» Democratic Party: The cessation of oil exports through Türkiye has caused Iraq huge losses
Wed Jun 05, 2024 6:08 am by Rocky
» The government's lack of seriousness in removing the Americans leaves Iraq exposed to them
Wed Jun 05, 2024 6:06 am by Rocky
» Al-Sudani sponsors the signing of an agreement between the TBI Bank and a German institution
Wed Jun 05, 2024 6:05 am by Rocky