The Limited is closing all remaining stores by Sunday; all online sales are final
Last edited Sat Jan 7, 2017, 01:11 PM - Edit history (1)
Source: Cleveland Plain Dealer
The Limited is closing all remaining stores by Sunday; all online sales are final
By Janet H. Cho, The Plain Dealer
@janetcho
https://twitter.com/janetcho
on January 07, 2017 at 6:00 AM, updated January 07, 2017 at 8:56 AM
CLEVELAND, Ohio -- The women's clothing retailer Limited Stores LLC is closing the last of its 130 brick-and-mortar stores, including six stores in Northeast Ohio, on Sunday.
Stores at Beachwood Place mall, Belden Village mall in Canton, Crocker Park in Westlake, Great Lakes Mall in Mentor, Southpark Mall in Strongsville and Summit mall in Akron had marked down what little clothing, shoes and accessories they had left by 80 percent or more this week, and were selling off tables, fixtures, and mannequins ($25 to $125 each). ... The clothing retailer, based in New Albany, Ohio, said it will sell off the rest of its inventory via TheLimited.com, where everything is discounted at 50 percent or more, although all sales are final.
Founded in 1963, The Limited went public six years later and grew rapidly, opening its 100th store in 1976. It had 772 stores by 1990, but that number had dwindled to about 250 by the end of 2016.
On Nov. 28, the company filed a WARN notice with the Ohio Department of Job and Family Services that it was considering permanently cutting all 248 jobs at its headquarters, and that layoffs would begin as early as Dec. 2. The letter did not mention its retail stores or its employees there.
Read more: http://www.cleveland.com/business/index.ssf/2017/01/the_limited_is_closing_all_sto.html
Bricks and mortar: what a brutal environment.
bucolic_frolic
(43,364 posts)most households, particularly millennials, concentrate on food,
experiences (restaurants, vacations), wheels, smart phones.
Older households are downsizing, or stable. It's also brutal on eBay
because there is such a glut of everything.
Don's going to rev up the economy? Who's going to buy the output?
If history is any guide, wars solve that problem. Destroy the output.
Aristus
(66,478 posts)The purpose of war, aside from keeping the populace cowed and filed with patriotic hatred of the 'enemy', was to use up the output of military industrial production. And to perpetuate shortages of everything else.
This is what we will be facing...
uppityperson
(115,681 posts)BumRushDaShow
(129,662 posts)I am a tail-end boomer but I would think the millennials are going to eventually settle down, have kids (which means clothes and shoes), buy/rent houses/apartments/condos (which means appliances and furniture and home maintenance), and will realize that restaurants and vacations are no longer in the budget. I do think that other than them doing some retro (i.e., for the 2nd time now, record albums are back in style and are being created and bought by them), they will shift to online purchases for everything and will either pick them up at some spot or have the things delivered. If anything, the cash register business may start going defunct.
crazycatlady
(4,492 posts)And buying a house is something that I am just never going to do (I grew up with hardcore DIY renovation parents and we had a different project every weekend and the thought of a line item in my budget for Home Depot makes me vomit). Renting means that I never have to buy fixtures, appliances, renovations, etc. Furniture can be had on the cheap and bought online (I won't buy furniture at a brick and mortar store that does not offer delivery). You can buy furniture on Amazon. But that's stuff that is easily found used (within reason).
At my age, my parents were at the accumulating stuff phase. I'm looking at moving soon and I'm trying to get rid of stuff. After cleaning out my late (Depression era) grandparents' house, I just don't want any more stuff. I prefer to spend my money on experiences and gadgets.
NWCorona
(8,541 posts)If I was young I'm not sure if I'd buy a home either but the stability in my mortgage is nice. Here in Seattle after the crash everyone was saying that it was better to walk away from their underwater house. Some of my friends did just that because rents were so cheap. Not anymore. I couldn't get a studio apartment for what a pay a month. The prices home prices are back to or above precrash levels.
crazycatlady
(4,492 posts)Homeownership is increasingly limited to 55 and over (with over 90% of new construction in age restricted communities, which IMO are illegal) so there's more than one generation being excluded from the market.
I guess I just don't care about many of the things homeowners do. I don't get excited when someone is redoing their bathroom, etc. As long as the room functions and is structurally adequate (ie no leaking pipes), then it works for me.
Then again I want to go more rural. Big cities are too much for me, and city driving gives me nightmares (although Seattle wasn't bad as they have polite drivers).
NWCorona
(8,541 posts)I'm not surprised to see the ownership rates fall as well. If I were to do it again I would just convert a van and live down by the river. I also like the tiny house movement.
BumRushDaShow
(129,662 posts)but it's still good to know some small amount of DIY. I know it's bad to make a blanket statement about certain generations as there are many - including an X-gen sister of mine who (with her DH) prefers to live more "sparingly" but with a few nice items. But even if you rent, the landlord still needs to buy those appliances. In essence, as long as there are more single family/single individual households vs the past (notably during the depression) where it was more common to have several generations in a single household, then there will be that need for some stuff.
Of course I can always insert the infamous George Carlin ditty about that topic.
keithbvadu2
(36,962 posts)Doesn't he care about hard working Americans anymore?