Retail report is distressing

[jimsmegos]

can't disagree with that ...but it was sorta fun working there or it least had its moments....I miss KB Toys,My career was with them and probably one of the best jobs I ever had.(Working at a job that pertains to my hobby and interests doesn't get any better than that)

I will say that TRU and KB Toys are two different worlds though even though they both sold toys...KB wins hands down

Having worked for both I completely agree with you in KB being the champ. The seasonal experience with tru was truly enlightening to their corporate decisions that are truly terrible. They also had a significant amount of theft this past holiday season, not inventory but store deposits being made off with by management. I see a very bleak future for them as. In my short time there
I saw the same writing on the wall going on that was happening at KB but even faster. Example being the daily price changes and sale specials, far too confusing for the consumer plus why buy today when it could be on sale tomorrow. KB did the same thing but at least it was weekly. Thinking about it, I forgot how much I loath the inflate the price then put it on sale BS promotions.

[Teemu]

Having worked for both I completely agree with you in KB being the champ. The seasonal experience with tru was truly enlightening to their corporate decisions that are truly terrible. They also had a significant amount of theft this past holiday season, not inventory but store deposits being made off with by management. I see a very bleak future for them as. In my short time there
I saw the same writing on the wall going on that was happening at KB but even faster. Example being the daily price changes and sale specials, far too confusing for the consumer plus why buy today when it could be on sale tomorrow. KB did the same thing but at least it was weekly. Thinking about it, I forgot how much I loath the inflate the price then put it on sale BS promotions.

The biggest problem with TRU is that there is NO TRAINING and you're really not all that important to them.They mostly just throw people into their roles after showing them one time while having to learn so much in such a short period of time...

They is no way TRU will stay in business with sales continually being down each year.I too also saw the writing on the wall with KB since I was working in Management and watching sales flounder along each year while corporate continued to do the same things over and over and never really looking at the inventories they carried as one of the biggest reasons of closure.

TRU is just getting greedy now and no longer trying to be price competitive while carrying as little inventory as they can.They are the worse place to buy Lego's from (among other toys) as they charge $10-15 higher than anyone else.

Either way,ALL Toy stores (those who actually have a toy section) are struggling and it doesn't look bright for the future as kids are mostly moving out of toys and into gadgets and video games.

[domino]

I've stopped going to the mall with my girls. There's nothing there for me. No bookstores, no toy stores... just clothing and gadgets and stuff that I'm too obtuse to enjoy.

Exactly. I took my kids to the mall a few days after Christmas as they wanted to spend some money. I hadn't been there in awhile and I found nothing to look at. Borders, KB, video store and even Gamestop were gone. Even the Game Daze hobby/tabletop game store was going out of business. Nothing but overpriced clothing, shoes and empty stores there.

[wayne foundation 07]

Since K-Bs went out,malls just don't do it for me any more.

what he said !

[jimsmegos]

The biggest problem with TRU is that there is NO TRAINING and you're really not all that important to them.They mostly just throw people into their roles after showing them one time while having to learn so much in such a short period of time...

This fact blew me away. The crew who had been at the store I worked had been there for a couple of years had no idea how to efficiently work a truck or maintain a back room. Blew me away with how terrible they were treated in that regard.

[VintageMike]

Seem to be bucking trends a bit in this area, if not completely. While there have been some losses due to places going under there are hopeful signs as well.

At the smallest mall, while Borders went under Books-A-Millions took over their space and seems to be doing OK. Currently there are plans to expand the mall and add a move theater. Mall also still has Gamestop, a well-stocked FYE and a great food selection.

At the biggest mall, there's 16 screen theater, a best buy on the property and a gamestop.

The Galleria in Middletown NY has it all: FYE, Gamestop, big movie theater ,Target and a Cyberstation arcade.

[Blue Meanie]

I think Scott, Random Axe, touched on what the problem is with the malls...Rent is too high. I live within a stones throw from a mall. I remember my Dad tried to open a tailor shop in it. This was back around 1980. At the time they wanted about $1500 - $2000 a month plus 10% of whatever he took in. Also, he had to be open as long as the mall was open if he was to accept the deal. My Dad told them what they could do with their deal. Fast forward 34 years and the same mall is still in business. Now, for a small little kiosk in the center of the mall, they want $3000 per month. It's not even a store...it's a kiosk. Everything that everyone has said is true, no book stores/game room/Toy Stores, but that shouldn't stop and independent owner to come in and open a store. It's the rent that kills them. That being said, the mall near me was the busiest I've seen it in 20+ years during Christmas...but there are a lot of empty store fronts inside.

[Teemu]

I think Scott, Random Axe, touched on what the problem is with the malls...Rent is too high. I live within a stones throw from a mall. I remember my Dad tried to open a tailor shop in it. This was back around 1980. At the time they wanted about $1500 - $2000 a month plus 10% of whatever he took in. Also, he had to be open as long as the mall was open if he was to accept the deal. My Dad told them what they could do with their deal. Fast forward 34 years and the same mall is still in business. Now, for a small little kiosk in the center of the mall, they want $3000 per month. It's not even a store...it's a kiosk. Everything that everyone has said is true, no book stores/game room/Toy Stores, but that shouldn't stop and independent owner to come in and open a store. It's the rent that kills them. That being said, the mall near me was the busiest I've seen it in 20+ years during Christmas...but there are a lot of empty store fronts inside.

Empty spaces that no one wants to fill too....Retail in General is shrinking...why? because folks don't have the expendable income like they used to.Money is tight most of the time for people,unless your rich! The biggest issue is prices are going up (thanks to a devalued dollar that has continually lost it's purchasing power), but Salaries and Income are NOT!

Money creation through borrowing and debt will only continue to deflate the purchasing power of the dollar and you will only continue to see prices go up..

You can't make a living on $10 an hour and folks that are have no money to spend which will equal MORE retail businesses to close.Basically many Malls are in trouble and you'll likely see Malls close or shrink its space.

[mazinz]

A lot of damage is also due to internet shopping. It just doesn't affect book, record, video stores, but you are now seeing the true damage it is causing to a physical retailer. Rent applies too but nowhere near as much as the internet has to this equation. Basically if you removed the internet we would not have a topic for this discussion, since retail stores would then be doing just fine

[thunderbolt]

A lot of damage is also due to internet shopping. It just doesn't affect book, record, video stores, but you are now seeing the true damage it is causing to a physical retailer. Rent applies too but nowhere near as much as the internet has to this equation. Basically if you removed the internet we would not have a topic for this discussion, since retail stores would then be doing just fine

Its not really damaging sales, just relocating them to other stores, product sales are on the cusp of a big change to online retail. Eventually it will start hurting Walmart's sales of plain old regular crap. Its the same as Blockbuster rubbing out the mom and pop stores then getting ran out themselves by Netflix and Red Box. The funny part is that big boys like Amazon are setting up more distribution centers to make it get there faster and basically the merchandise is getting right back into being warehoused inthe areas that they ran retail stores out of.

[CrimsonGhost]

Seem to be bucking trends a bit in this area, if not completely. While there have been some losses due to places going under there are hopeful signs as well.

At the smallest mall, while Borders went under Books-A-Millions took over their space and seems to be doing OK. Currently there are plans to expand the mall and add a move theater. Mall also still has Gamestop, a well-stocked FYE and a great food selection.

At the biggest mall, there's 16 screen theater, a best buy on the property and a gamestop.

The Galleria in Middletown NY has it all: FYE, Gamestop, big movie theater ,Target and a Cyberstation arcade.

You're right about Middletown. I was surprised to see an FYE still open. They seem to have closed just about everywhere else. But then, I'm s guilty as anybody for going in there, looking, and not buying anything.

[Teemu]

You're right about Middletown. I was surprised to see an FYE still open. They seem to have closed just about everywhere else. But then, I'm s guilty as anybody for going in there, looking, and not buying anything.

why feel guilty? why buy something you don't really want or need? I would call it SMART...retail in general is quite deceptive in it's selling tactics(I've seen it plenty).I always wondered why they call all the merchandise at the checkout counter "the impulse counter"...because that is exactly what alot of people do,they buy on impulse and seek that instant gratification.

TRU likes to offer Sale items in their Ads while only have a few items on-hand to sell,while that customer then comes in looking for that item only for it to be SOLD OUT! but see,they got you to come in the store (that is their main goal), because if the item is Sold out,you might or will buy something else...very sneaky what they do!

[Figuremod73]

One thing that I think will happen from more retail closings is more power for Wal-mart. I'm afraid they will eventually control retail and set prices completely. There will always be a huge amount of the population that will only shop thru brick and mortal because of access to a computer/internet or other various reasons.

[CrimsonGhost]

why feel guilty? why buy something you don't really want or need? I would call it SMART...retail in general is quite deceptive in it's selling tactics(I've seen it plenty).I always wondered why they call all the merchandise at the checkout counter "the impulse counter"...because that is exactly what alot of people do,they buy on impulse and seek that instant gratification.

TRU likes to offer Sale items in their Ads while only have a few items on-hand to sell,while that customer then comes in looking for that item only for it to be SOLD OUT! but see,they got you to come in the store (that is their main goal), because if the item is Sold out,you might or will buy something else...very sneaky what they do!

I don't feel guilty, I'm saying I am guilty of not supporting a store that I want to stay open... just so I can look around.

[Werewolf]

A lot of damage is also due to internet shopping.

It's easy to blame the internet.

But I feel the stores themselves are more to blame. Horrendous mismanagement, unkempt disorganized and poorly stocked stores. The last Kmart in my area was always run down, dirty and the isles and shelves looked like a tornado blew through it. I would love to shop locally and have the stores and malls clean and stocked like the were in the 70s and 80s. I'm forced to shop online because the stores in my area rarely stock. The Walmart closest to my house hasn't restocked their SW since last summer. I went to a Walmart across town and the toy department was practically empty. The SW toys consisted of a half dozen Phantom Menace 3D figures from 2 years ago.

I want to shop local stores. But I can't buy what isn't there. My toy collecting would have ended years ago if I couldn't shop online.