We usually don't see this until after the holiday season, but two major retailers recently announced some pretty serious store closings. Gap is closing 189, or 21%, of its namesake stores, while Lowe's is shutting 20 stores.
This takes place after the collapse of Borders, Blockbuster's demise and closings by GameStop, Foot Locker and others. This may not be as bad as a few years back when we lost Circuit City and Linens 'N Things, but it isn't looking good.
Maybe there are a few sources of comfort, though. Even when retail was doing well, before the recession, Gap had serious problems for years before that. And Lowe's announcement could be worse. After all, the chain has 1,750 units and still plans on opening 10 to 15 stores a year.
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