Thursday, August 27, 2009

Only the Strong Will Survive

Retailwire discusses in this post how recent research from Grant Thornton predicts that the number of store closings will nearly double from last year, reaching nearly 10,000 closings across the country. Last year, the closings focused primarily on home furnishings, electronics stores, and clothing stores. According to the research these same types of stores will be joined by book stores, food/beverage locations, and large department stores.

Scott Davis, principal at Grant Thornton's Corporate Advisory and Restructuring Services, mentioned:

"Although there's high risk in the retail industry, now is the time for companies to fine-tune their business and take advantage of new opportunities.The winners will be the disciplined companies investing the time, effort and resources to reexamine their strategies and position themselves for growth."

In other words only the strong will survie.

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