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Magazine > Market Survey > News Content

Study: 2009 retail industry losses

2/2/2009 7:00:30 AM

New York--After an historic sales decline in the 2008 holiday season, many are predicting that the U.S. retail industry will shutter stores and layoff employees in large numbers in 2009.

About.com, recognized as a "top 15 content site," is keeping a comprehensive and ongoing tally of the store closings and job cuts that have been announced by the biggest U.S. retailers and scheduled to happen in 2009.

The most recent lists include:

2009 retail industry store closings, including chains going out of business:

Circuit City: 567

KB Toys: 461

Goody's: 287

Van Heusen: 175

Ann Taylor: 117 (by 2010)

Office Depot: 112

Club Libby Lu (Saks): 98

American Greetings: 60

Supervalu: 50

New York and Co.: 50 (over the next five years)

Ruby Tuesday: 40

Famous Footwear: 35

Yankee Candle: 28

Cost Plus: 26

Blue Tulip Gift Shops: 24

Sears: 22

Oneida Ltd.: 20

Gap Inc.: 15

Kira Plastinina: 12

Macy's: 11

Filene's: 11

Dillard's: 8

Dominos: 8

Sweetbay Supermarkets: 7

Applebees: 4

Harry W. Schwartz Bookshops: 4

Good's Furniture and Flooring: 3

Lane Bryant: 3

P and C Food Markets: 3

Pier One: 3

Virgin Records: 1

Some chains, such as Office Depot, began their store closings in 2008, but the closings will be completed in 2009, according to About.com.

2009 retail industry job cuts:

Circuit City: 30,000

KB Toys: 10,915

Goody's: 9,000

Office Depot: 2,200

Williams-Sonoma: 1,400

Saks Inc.: 1,100

Walgreens: 1,000

Macy's: 960

Best Buy: 500

Albertson's: 381

Neiman Marcus: 375

Ethan Allen: 350

Yankee Candle: 332

New York and Co.: 310

Charming Shoppes: 225

Stein Mart: 209

CDW: 190

P and C Food Markets: 164

Cost Plus Inc.: 145

Barnes and Noble: 100

Google: 100

Harry W. Schwartz Bookshops: 65

Brown Shoe Co.: 59

Gottschalks: "dozens"

Some retailers, such as KB Toys, started closing stores and cutting jobs in 2008, but their total job force reduction will be completed in 2009, according to About.com.

About.com also reports that small retail businesses are not included in these figures, although it is predicted that the aggregate of individual store closings will have a significant impact on total job losses in the retail industry by the end of the year.

While 2009 is starting out to be a record-breaking year for retail store closings, many top U.S. retailers are opening stores and gaining market share on their weakened competitors.

This list of U.S. retail store openings scheduled for 2009 from About.com reveals which top retail chains are focused on expansion in the midst of recession:

Family Dollar: 200

Aldi Supermarkets: 75

Darden: 70

EZ Money: 35

Apple: 25

Taco Maker: 25

Kohl's: 19

Whole Foods Market: 15

American Apparel: 14

Nordstrom: 14

Publix: 3

CarMax: 1

Founded in 1996, About.com was acquired in March 2005 by The New York Times Co. Today, About.com is recognized as a top 15 content site and one of the largest producers of original content on the Web.

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