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The shares dropped another 1.33% in the after-hours session at $3.71.Photo Credit: Oxiq via Wikimedia.See more from Benzinga * Asian Stocks Hammered As Countries Face Economic Shutdown Due To ...
The company's stores were sold to a group of liquidators, and its CEO announced that all stores would close by the end of August 2016. [288] [289] Stein Mart filed for Chapter 11 bankruptcy in August 2020 with intent to close all of its locations due to the COVID-19 pandemic. [290] Sur La Table filed for Chapter 11 bankruptcy in July 2020. [22]
The company plans to close 148 stores in 2025. But given its more than 13,000 store footprint, that leaves plenty of locations going strong — at least for now. 3.
A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
All 60 Cath Kidston stores to close after collapse. [95] On April 30, Oasis and Warehouse permanently close all their stores and online shopping with the loss of more than 1,800 jobs. [96] Sharon White, John Lewis boss, hints that some of their shops may not re-open after the pandemic. [97] Debenhams files for administration [98]
The economy has taken a hard hit during the coronavirus pandemic, with a staggering number of Americans out of work, and century-old stores closing their doors for good. And the hits keep on ...
On the same day, however, GameStop said it planned to open 65 new Technology Brand stores and 35 Collectibles stores due to a 44% and 28% increase in sales, respectively. [103] GameStop's total revenue fell 7.6% to $3.06 billion in the quarter ended February 2, 2018.
The GameStop short squeeze was an example of such detachment. GameStop had an outdated business model and its stock price surge didn’t reflect that reality. It reflected the fickle hive mind of WSB.