By Dino Flammia March 8, 2017 2:19 AM
New Jersey’s retail landscape is changing in the bleakest way possible.
An array of major chains are announcing the complete or partial shutdown of brick-and-mortar stores, and New Jersey locations are included in the mix.
In just the past week, retailers American Apparel, BCBG Max Azria and HHGregg joined the list of companies who can’t financially manage to keep any or some of their operations afloat. BCBG has not specified locations, but all four American Apparel and all three HHGregg locations in New Jersey will be no more.
Decisions to close shops are typically made after the holiday shopping season, but when the list includes major names such as Macy’s, J.C. Penney and Sears, industry observers can’t help but be alarmed.
Read More: NJ marketing expert alarmed by string of retail store closures | https://nj1015.com/nj-marketing-expert-alarmed-by-string-of-retail-store-closures/?trackback=tsmclip
Business activity does not support the cost of rent.
It’s that simple.
It seems many locations are now for rent in the CBD. I have noticed a lot of business closing recently. I am new to the area so maybe there has always been this much turnover.
Joe…Rents are steep in the CBD and parking is fun at certain times of the day. You need businesses with high cash turnover to keep the landlord happy. We lost a number of longer term shops over the past several years. Restaurants, nail salons, banks and the occasional chain stores as occupants are the apparent wave of the future….and even chain franchises are pulling up stakes.
Maybe Landlords can use AirBnb and have transient business moving in and out on a weekly or monthly basis…
Been saying forever it is not just a Ridgewood/parking issue. Englewood, Glen Rock, Summit, Westfield, etc all have similar trends despite a greater supply of parking.
pesmith, and instead of viewing those services as bottom barrel, we should try and attract more, perhaps some more child or fitness services.
244… yes it’s not just here, that’s for sure… I am surprised that we don’t have more fitness places but it would be a tight fit on the main drag and the few kid’s boutiques here seem to be doing okay… local type businesses like sporting goods, a hardware store or even a butcher wouldn’t have the cashflow to cut it… Anyway I hope the local chamber of commerce has some ideas.
There must be at least 6-7 stores that I have noticed that are closed last week walking through downtown. Rents must be astronomical….
Parking fiasco including over allocation of employee slot and meter head removal in cottage now under coverup mode.they hosed the 1000 dollar fat cat @train VIP club
And made the rest of us lowly 750 peons.Onlt in Ridgewood.
I made an Amazon order yesterday morning. It was in my hand that afternnon. My car stayed in my driveway. That is how modern retail works.
11:45 is absolutely right…1:32 you are absolutely wrong…the wave of the future is in your hand (phone) and ecommerce is growing by leaps and bounds everyday. 2:42 is the troll who is obliviously anti progress and needs to be shown where the cupola is located. By the time the landlords in the CBD get the memo it’s going to be too late…as evidenced in 3:50’s comment.
Lots of nice gold pawn shops still in the CBD beside the empty store fronts. Add in the cover-up of what the Council has done on parking (i.e. Where are the meters on Cottage Place, who jacked up annual fees for commuters then moving them further away from Ridgewood station, and where are those extra fees going?). What’s the Council’s strategy for the CBD?
The rents could bd halved. It wouldn’t make any difference. Brick and mortar retail is over.
It is easy to say brick and mortar is dead but the reality is that there is still some use. Amazon itself is opening some brick and mortar stores. The Garden State Plaza is usually packed. The Tice’s Farm stores seem to be stable and profitable. The key is figuring out what those businesses are and attracting them to town. We are clearly not doing that right now. Like or not parking is part of the problem but certainly not the whole problem.
Parking is only a problem from 6-10pm on Friday and Saturday nights due to busy restaurants .
Yea, thanks 12:04…the senior bus is here, time for you to go. 8:01 Amazon is opening a handful of stores to test its grab n go technology that it plans to sell to others…not build thousands of Amazon Markets. There is also a vast difference between the Ridgewood CBD and GSP and Tice’s. Not even comparable. There’s not much to “figure out” in the CBD. Restaurants and service. All the banks will soon be gone and or in much smaller footprints. Only Capital One was stupid enough to build…and with a drive in no less! Others will come as well as soon as the landlords figure out that their nothing more than greedy and reduce the sq. ft. Costs accordingly. 5-6 K per month for less than 500 sq. feet ain’t gonna cut it.