Staples came out with their earnings today. They reported lower earnings than expected and as a result, their stock is down nearly 13% at this time! Ouch! This is only the latest indication that the strip mall is in a death spiral. Staples already announced that it was closing 200 stores. Office Depot announced earlier that it was closing 400 stores. Add to that the stores being closed by Barnes and Noble, and the stores that are still vacant after Borders and Circuit City went under, and the picture for strip malls is not pretty. Home Depot also reported disappointing numbers today. The ubiquitous strip mall is slowly becoming a ghost town. How many jobs have been lost as a result?
What do you think?
For more:
http://finance.yahoo.com/blogs/breakout/staples-slides-as-strip-malls-march-toward-extinction-141234474.html
No comments:
Post a Comment