retail news in context, analysis with attitude

The Chicago Tribune reports that Supervalu has begun the closure of the 50 stores that it said that it would shutter as an economy move. The company also said that it would cut back on new store openings and remodeling efforts.

According to the story, the closures include five Cub Foods stores in Wisconsin and Illinois; seven Albertsons stores in Utah, Nevada and California; four Lucky stores in Nevada; four Shaw’s/Star Market stores in New England; and two Farm Fresh stores in Virginia.
KC's View:
Amazingly, this is just the tip of the iceberg.

There was a story in the Rocky Mountain News the other day in which Burt Flickinger of Strategic Resource Group suggested that a total of 200,000 retail stores – ranging from big box stores to the smallest mom-and-pop shop – are likely to close in 2009 because of the recession.

That’s an almost unimaginable number, and a reflection of the tough times in which we all find ourselves.