Giving gift cards this holiday season may not be such a great idea...
There is an e-mail making the rounds saying that, "It would be better to give cash or a present than a gift card this year. Stores across America are being scheduled to close after the Christmas season due to economic difficulties and bankruptcy, which would render most cards useless." This is sobering: Circuit City closing 155 stores nationwide. Ann Taylor is closing 117 stores nationwide. Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year. Women's retailer Cache announced that it is closing 20 to 23 stores this year. Lane Bryant, Fashion Bug, and Catherine's are closing 150 stores nationwide. Talbots & J. Jill will be shuttering all 78 of its kids and men's stores, plus another 22 underperforming stores. The Gap Inc. is closing 85 stores. Foot Locker is closing 140 stores. Wickes Furniture is going out of business. Levitz/BOMBAY is closed. The owner of Zales & Piercing Pagoda is closing 105 outlets. The Disney Store may close up to 98 stores. Home Depot is shutting down 15 core retail stores. Macy's is closing 9 stores. Video rental company The Movie Gallery is eliminating 160 stores. Gone are 33 Pep Boys stores. Sprint Nextel 125 retail locations. Ethan Allen Interiors is closing 12 stores, and Wilson Leather is closing all 260 mall stores. Pacific Sunwear will close its 154 Demo stores. The Sharper Image is in bankruptcy and 90 of its 184 stores are closing. KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. Dillard's Inc. is shutting down 6 more stores. Starbucks: Starbucks will close approximately 600 company- operated stores in the U.S. Kirklands home décor will be closing nearly 130 stores nationwide. Linens 'n Things is closing 120 stores. Dell Inc. closed its 140 kiosks in the United States, and Liz Claiborne Inc. said it's closing the entire 54-store Sigrid Olsen chain. Lone Star Steak House is shutting 27 stores, Rite Aid 28 stores, and Big Dollar is closing 10 establishments.