The chain has posted losses during the last second quarter.
Company officials said some of the closing are due to high rent and indicated more Bed, Bath & Beyond stores will close if landlords do not agree to negotiate more favorable terms.
No word has been given on which stores will be closed.
Joplin has a Bed, Bath & Beyond at 409 S. Geneva Avenue.
8 comments:
"The Economy is soooo good, perhaps the best in our country’s history (remember, it’s the economy stupid!), that the Democrats are flailing & lying like CRAZY! Phony books, articles and T.V. “hits” like no other pol has had to endure-and they are losing big. Very dishonest people!" https://twitter.com/realdonaldtrump/status/1039150829754888193?lang=en
There is more to the economy than retail businesses that can't compete with other retailers going out of business.
Local stores are shutting down because people are buying on line.
Shop local and keep businesses open.
"I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!" 4:57 AM - 29 Mar 2018 https://twitter.com/realdonaldtrump/status/979326715272065024
There are a number of factors responsible for businesses closing in Joplin. These include:
* Increase in online shopping.
* increase in the cost of living in our area. This has increased significantly over the last 10 years.
* Avg household incomes have not kept up withe increase in the cost of living which means households have less discretionary income.
* Stagnant and/or minimal population growth.
* Proximity to numerous casinos which sap a significant amount of discretionary (and non-discretionary) income from the population base.
In the end, a market can only support so many businesses and it is very apparent that Joplin has reached the saturation point for many services and products unless there is a significant increase in market discretionary income (whether from an increase in population or an increase in avg houshold incomes). I suspect there will be more local businesses closing in 2019 as the economy begins to soften and slows down.
What about all those tax increment funding deals that bought these soon to be empty stores? Tax revenues given away for...empty stores to be converted to mega churches and warehouses?
Be more specific, 618.
https://www.lakeexpo.com/news/business/planned-m-development-in-joplin-has-connections-to-lake-of/article_217bdae4-265b-11e9-8b93-0f3af9e3da4d.html
https://www.stltoday.com/news/local/govt-and-politics/legislature-passes-new-restrictions-on-tif-incentives-to-developers/article_937ff4eb-9330-5c75-bed4-3873ff1dc3ec.html
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