The New Year means it's time to perform or go out of business for some longtime brands.
The Wall Street Journal says that unless they get their act together, there are some stores that may not be around in another year. The report says Best Buy in particular faces a difficult year, now that holiday shopping rush is over. Best Buy : The report says Best Buy is losing business due to "showrooming," where people visit the store, then shop online. JCPenney : The Journal says Penney's has been unable to bring back shoppers since its revamping. It has spent millions on a makeover, only to see falling sales. Radio Shack : Another store in trouble: Radio Shack, whose move into cell phones "backfired," according to the Journal. Sears :Also Sears, which the report says has been unable to turn itself around, and is keeping investors happy only by selling off stores and parking lots, according to the Wall Street Journal. Other Brands in Trouble according to the Journal include :
-American Airlines, which could be bought up by US Airways. -Research in Motion, the maker of the Blackberry. Remember when everyone wanted a Blackberry? -Pacific Sunwear, a mall store that used to be cool and popular, until shoppers moved elsewhere. -Talbots, see Pac Sunwear, above. -Avon, with declining sales and stock price.
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