- Image by net_efekt via Flickr
Quoted – Retailer Smart Buys at Stupid Prices will shut all 22 locations – Fresno Bee
Discount retailer Smart Buys at Stupid Prices is closing all its 22 stores, including the Fresno store that opened less than a year ago, according to the Fresno store’s manager.
Experts say the closure is proof that it takes more than low prices to make it in this economy. The Washington-based chain, which sells surplus and close-out merchandise from other retailers, has stores in California and Washington.
Employees at the Merced store — which opened in July — and the Stockton store confirmed that their locations will close as well.
Closing stores so soon after opening them is unusual, said Scott Testa, a professor who follows retail at Cabrini College in Philadelphia. He noted that he doesn’t have first-hand knowledge of what happened with Smart Buys.
“Opening stores in the summer and closing down completely in September tells me that … maybe they grew a little too quick, or maybe they lost some financing,” he said. “Those indications tell me that something horribly went wrong.”
When retailers run into financial troubles, they typically stop opening new stores and focus on becoming financially sound, sometimes closing underperforming stores, he said.
Midsized retailers have a tough time competing against larger chains, and Smart Buys may have faced some of the same challenges that the now-closed Gottschalks faced, Testa said. Such stores have less pull with manufacturers than large chains, he said.
“The smaller chains sometimes get stuck with the crumbs,” he said. “If there’s a hot product that a lot of people want, the Best Buys and the Wal-Marts of the world, they usually get first dibs.”
http://www.fresnobee.com/business/story/1633826.html
Related articles by Zemanta
- Quoted – Wall Street Journal – Borders and Retail Landscape (scotttesta.com)
- Quoted – Federal Computer Week – Social Media and Defense Department (scotttesta.com)
- Quoted – EC delays Oracle acquisition of Sun – Internet News (scotttesta.com)
- Quoted – Creditcards.com – What to do if your retail credit card issuer goes bankrupt (scotttesta.com)
- Quoted – Retailer Smart Buys at Stupid Prices will shut all 22 locations – Fresno Bee (scotttesta.com)
- Quoted – Grudgingly, young people finally flock to Twitter – Associated Press (scotttesta.com)
- Quoted – Could Phila. make more on its marathon? – Philadelphia Inquirer (scotttesta.com)
![Reblog this post [with Zemanta]](https://i0.wp.com/img.zemanta.com/reblog_e.png)
Dr. Scott's Business Blog 
Great site, I now have you bookmarked to come back again.
Perfect work!
Very interesting and amusing subject. I read with great pleasure.
Valuable thoughts and advices. I read your topic with great interest.
Are you a professional journalist? You write very well.
strongzz You managed to hit the nail upon the top as well as defined out the whole thing without having side effect , people can take a signal. Will likely be back to get more. Thanks
We’re a group of volunteers and opening a brand new scheme in our community. Your web site offered us with useful information to work on. You’ve done a formidable activity and our entire neighborhood can be grateful to you.
When the Gibson girl was about the place, men often acted like blockheads, overcome by her beauty, confidence and provocative allure.
To make a short neck look longer wear a scoop neck or open collar shirt, complete the look with a long necklace.
They rely on more 140 suppliers worldwide, with each region specializing in a certain type
of clothing that it can manufacture at a competitive price.
Simply want to say your article is as astonishing. The clearness on ykur post iss just
excellent and i could think you’re ann expert in this subject.
Fine with your permission allow me to take hold of your feed to
keep updaed with imminent post. Thank you one million and please carry on the rewarding work.
I’ve learn several excellent stuff here. Certainly worth bookmarking for revisiting.
I wonder how much effort you place to create this sort of fantastic informative web site.