A neighborhood store here... Run by a skeleton crew. We've just hit $200,000 BELOW plan for the quarter. On one day in February, a department was DOWN 36% where other neighborhood stores were UP on average 8%. Each day, the hole gets deeper. So, how long until we close? Weeks? Months? How are other neighborhood stores doing out there? Just checking in!
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OP here. Back after a day off, and 2 days later, we're now down 231k. And WTD 130k below plan. At this accelerated rate, I'm going to guess half a million by the end of March? I think we're just coasting along until the next wave of closures starts happening or when they can find a buyer for the building. There doesn't seem to be much pressure in moving sales. Either management has given up or they're not worried about closing. Kind of a strange limbo vibe. Any other neighborhood stores willing to chime in on sales and the vibe at your store?
Leases were still in effect upon some store closings a few years ago. Three years were left of a lease in a mall. I guess they thought better to pay for an empty space that all the overhead in an open store. What does that tell you?
Terms of the leases are a big driver of the closing timing. If the company is obligated to pay rent, a poor performing store could last longer than one doing better. In other words, comp performance is not the only factor at play determine when a specific location will be closed.
- 2 years... better get a job at amazon