"Taking stock of a rough holiday season, retailers are shuttering stores and trimming expansion plans as they stare down edgy consumers."'We're in poor economic times, and when you're in poor economic times, retailers close stores and reduce the number they plan to open, said Eric Beder of Brean Murray, Carret & Co. 'That will accelerate into the second half of 2008.'"
Industry analysts said Thursday that there was little mystery behind the plans announced by several chains this month."
Zale's is closing 60 stores in the immediate future, and "several dozen more" this year.
Liz Claiborne "is pulling the plug on its 54-store Sigrid Olsen chain".
Ethan Allen is closing 12 stores and two service centers.
Talbots is closing "78 Talbots Kids and Talbots Men's stores".
Pacific Sunwear is closing "the last 154 stores in its struggling demo chain".
And yes, even Macy's (!!) is closing nine stores.