After reading this morning’s business news and seeing that Barneys New York is closing all of its stores except the one on Madison Ave in New York and filing chapter 11 AND Perkins & Marie Callender’s LLC is filing for chapter 11 and trying to sell off assets…I thought…well we are still over stored and have too many restaurants in that mid-tier…a little thinning of the herd so to speak. sigh but…
Now comes news that in the president’s robust, winning, best economy ever, Walgreens is paring 200 stores from its portfolio.
Walgreens plans to close approximately 200 U.S. stores, the company announced Tuesday in an SEC filing.
Granted, Walgreens is probably over-stored in the US…they certainly seem to be in Milwaukee…but this isn’t a good sign in what we are being told is a booming economy!
Just more winning [sarcasm]!
P.S. CVS closed 46 stores earlier this year.