Previously, we mentioned the downturn in Coach’s stock price, and today they announced they will lower prices by 15% in 2010. Although the company still made a profit (which is more than we can say for many (ok, most) retailers), Coach announced plans to only open 20 new stores this year, down from original plans to open 40.
Popularity: 6% [?]
Macy’s is the next on the financial chopping block as they have recently announced the closure of 11 stores around the country. Be sure to take advantage of what will surely be huge clearances (but sadly at the expense of almost a thousand jobs.) The following stores are slated to be closed:
Ernst & Young Plaza (Citicorp Plaza), Los Angeles.
The Citadel, Colorado Springs, Colo.
Westminster Mall, Westminster, Colo.
Palm Beach Mall, West Palm Beach, Fla.
Mauna Lani Bay Hotel, Hawaii
Lafayette Square, Indianapolis
Brookdale Center, Brooklyn Center, Minn.
Crestwood Mall, St. Louis
Natrona Heights Plaza, Natrona Heights, Pa.
Century III Furniture and Clearance, West Mifflin, Pa.
Bellevue Center, Nashville, Tenn.
Popularity: 4% [?]