Wednesday, September 26, 2012

Some more thoughts on store closings

We're still trying to get the skinny on whether Staples' announcement Tuesday that it was closing stores will have any effect locally. Based on the fact that Best Buy, Kmart and Sears are still here, I'd say no. But times are changing.

In the meantime, here's an interesting link from last week to put things in perspective. I found this paragraph in particular to be enlightening:

Many experts believe that the number of retail establishments per capita in the United States was excessive even before the economy recessed. According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space. That means that there is approximately 46.6 square feet of retail space per capita in the U.S., compared to two square feet per capita in India, 1.5 square feet per capita in Mexico, 23 square feet per capita in the United Kingdom, 13 square feet per capita in Canada, and 6.5 square feet per capita in Australia.

http://retailindustry.about.com/od/storeclosingsandopenings/a/2012-Store-Closings-US-Retail-Industry-Liquidations-Roundup-Chains-Going-Out-Business.htm?p=1

1 comment:

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