Textile Foreign Trade Attention: Those American Customers Must Be Vigilant. The Latest Bankruptcy And Closing List!

Since 2016, at least 35 large retail chain giants and countless small shops have declared bankruptcy in the US.

Since the beginning of 2019, 2187 retail outlets in the United States have been closed down, up 23% over the same period last year (the latest report of Coresight Research, a market research firm).

In early February, the US Department of Commerce released a shocking statistic: retail sales in December fell 1.2% year-on-year, the biggest drop since September 2009, and December sales of non physical retailers, including mail orders and e-commerce providers, fell by 3.9%, the highest level since November 2008.

Data in November also increased from 0.2% to 0.1%.

Core retail sales excluding motor vehicles, gasoline, construction materials and food services fell 1.7%, the biggest drop since September 2001.

Coresight Research, a research firm, said in its report that the collapse of bankruptcies and shops will continue until 2019, which can be described as "the end of the dark tunnel or the darkness".

Which American customers will have greater risks?

The following is the list of priorities.

Payless ShoeSource, an American shoe retailer, began shutting down stores in the US and Puerto Rico in February 17th and reducing online retail businesses.

A company spokesman said in an e-mail statement that all stores are expected to open until at least March, and most stores will continue until May.

Founded in 1956, Payless is the largest discount footwear chain in the United States.

In the collapse of the US retail industry in 2017, the company filed for bankruptcy for the first time and closed 400 stores in the United States.

Payless has plans to apply for bankruptcy for the second time and close all 2300 stores in the US, people familiar with the matter said.

In January 16th, Gymboree, a children's clothing company headquartered in San Francisco, filed for bankruptcy protection again. It will close all treasures and Crazy 8 children's clothing stores and plan to sell its other children's clothing brand, Janie and Jack.

Kumbo started developing and offering early education courses in 1976. Currently, there are 380 branches in North America, including 49 in Canada.

In 2004, Gymboree ranked first in the apparel retailing industry in the top 500 companies in Enteepreneur magazine.

But since the financial crisis, the company has been experiencing a decline in traditional retail stores, and the performance of the Christmas shopping season is not ideal.

When the company first sought bankruptcy protection in June 2017, its stores had as many as 1300 stores.

If the bankruptcy petition is approved, all Gymboree stores will be closed.

It is understood that at present, the Gymboree website is substantially reducing prices, with a discount of half off.

In February 28th, Gap Inc. Cape group announced that it would split the group's growth engine and the cash cow brand Old Navy Old Navy, and announced a restructuring that would close 230 Gap stores. After restructuring, brand 40% will come from online channels, while the stores and factory stores will divide the remaining sales.

The company said it would face more severe challenges in the first half of 2019, especially when the Old Navy brand started badly.

Last December, the group was exposed to the closing of the flagship Gap flagship store in Fifth Avenue, New York.

In the fourth quarter of 2018, Gap closed 40 stores to 758 in North America. The brand had 1232 stores in the 2018 fiscal year, 1321 at the end of the fiscal year, and the hardest hit area was located in the North American market.

The Cape group, founded in 1969, has dominated the clothing industry for decades. In 1999, sales for the first time broke through 10 billion US dollars to 11 billion 600 million US dollars.

The rapid expansion, basic fund construction and parity strategy of the store have laid the foundation for the basic theory of modern clothing industry.

Chico's plans to close at least 250 plus US stores in the next three years, most of which will be closed after 2019.

Its executives want to shift their business to online.

Chico's is the American clothing brand, founded in 1983.

Charlotte Russe, the famous American women's clothing retail brand, has applied for eleventh chapter bankruptcy protection in early February and plans to close 94 stores.

Charlotte Russe is a women's clothing brand established in California in 1975. It has nearly 568 stores in 49 states and Puerto Rico, and its brand includes Peek Stores.

In fiscal year 2018, sales fell by 14% to $795 million, but so far the company has not disclosed the latest loss figures in the latest fiscal year.

Since Sears filed for bankruptcy and a large number of stores, some media have pointed out that J.C.Penney will be the biggest beneficiary, but that is not the case.

In order to achieve steady development, J.C.Penney announced that it would stop selling all kinds of mainstream electrical appliances in the physical store from February 28th, and will also stop selling furniture. Consumers can buy some electrical appliances and furniture from the e-commerce website, and the mattress will continue to sell in more than 450 physical stores. In the future, it will focus on the development of clothing and soft household products.

In addition to reducing home appliances and furniture products, J.C.Penney confirmed that it will close 18 stores and 9 furniture stores in 2019, and expects to close almost all the stores in the two quarter.

Previously, hundreds of stores were closed, resulting in too much inventory, resulting in pressure on profits. For this reason, the company was forced to reduce inventory.

In February 27th, L Brands, Inc., announced that it would close 53 stores in North America in 2019 because of declining sales and performance.

Wei's performance in 2018 hit a 8 year low and finally decided to close a lot in 2019.

Last year, Victoria has closed 30 stores, and the underwear show in December has set a new low.

In January 2019, the brand recorded a 1% decline in the same store sales. Despite a substantial improvement in the chain, sales of the same store still dropped 8%.

According to Reuters, the famous American gift retailing chain Things Remembered will announce bankruptcy and close about 400 stores.

At present, many domestic suppliers confirm that buyers have stopped payment to suppliers in the near future.

The main reason for Things Remembered's bankruptcy is high debt and cash flow problems.

Things Remembered is an old gift retailer established in 1967. It has 450 stores in 43 states and some stores to Canada and online retail.

The U.S. retailer applied for bankruptcy protection on 16 Shopko1.

From the information disclosed by the group, it will plan to close 105 of the most unprofitable stores and expect to obtain 480 million US dollar bridge loan from Wells Fargo to maintain the operating expenses during the restructuring period. During this period, it is difficult for the supplier of unsecured debt to become a supplier.

McKesson Corp., a pharmaceutical provider, filed a lawsuit for more than 67 million dollars in outstanding bills.

In the early February, CEO David Simon, the largest retail real estate developer in the United States, pointed out that the retail industry was still struggling in 2019, and that more retail stores might be closed or even closed down in February.

Bloomberg said that in their research, more than 3/4 of the chief financial officer of the enterprise expected that the United States may have a recession in late 2020.

But there are also bright spots. Coresight data show that this year, the US retail industry announced that it opened 1411 new stores and offset about 65% of the store closes. These new stores are mainly one dollar stores and brand discount stores.

Business is not easy to do. For our Chinese exporters, the safety of the goods is the first. Do not take the old customers and the big customers lightly.