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Monday, November 17, 2008

No Gift Cards this Holiday Season; Shoppers Beware

Its A No Gift Card ChristmasAs the holiday shopping season is right around the corner and the world economy is doing that counter clockwise swirl down the drain thing, I was wondering what bargains are out there to be had... What I found wasn't what I was expecting:

If you have gift cards for any of these stores, now would be the time to cash them in before they close stores in an effort to cut costs.


Ann Taylor rumored to be closing over 100 stores. A company spokeswoman said the company hasn't revealed which stores.

Bombay Company: Check before Purchasing Gift cards

Cache - Check before Purchasing Gift cards

Dillard's - Check before Purchasing Gift cards. Dillard's Inc. said it will continue to focus on closing under performing stores, reducing expenses and improving its merchandise in 2008.

Eddie Bauer - Check before Purchasing Gift cards. Eddie Bauer has already closed 27 shops in the first quarter.

Foot Locker to close 140 stores. In the company press release and during its conference call with analysts, it did not specify where the future store closures - all planned in fiscal 2008 - will be. - Check before Purchasing Gift cards.

Gap Inc. closing 85 stores. The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand. - Check before Purchasing Gift cards

Macy's - 9 stores - Check before Purchasing Gift cards

Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand. - Check before Purchasing Gift cards.

Pep Boys - 33 stores - Check before Purchasing Gift cards

Sprint Nextel
- 125 retail locations New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. - Check before Purchasing Gift cards

Wilsons the Leather Experts - 158 stores - Check before Purchasing Gift cards

Zales & Piercing Pagoda closing stores. The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by July 31. - Check before Purchasing Gift cards

I don't think I would give gift cards this year from any of these stores

You have been given a voice, use it. Go out and SCREAM! about something you care about.

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dethmama said...

So depressing!! Times are just going to get tougher and tougher. Every day I'm thankful that I have a job...

Jan 4 Insight said...

There are plenty of us independent crafters, artisans, and home-based businesses who have stuff for gifting. Like me, for instance:

Buying from independent artisans bypasses the corporate middleman, and puts the money back into the economy where it will do some good.

Trust me, any money I make WILL go right back into the economy :-)

Anonymous said...

Absolutely! Check out Jan's Site.

Do you have gift cards? ;)

Midwest Mom said...

Thanks for this post, Troy. I have been wary of gift cards for a while now -- especially because the buying power of the card decreases every time prices go up. So, 25 dollars spent before Christmas won't necessarily buy more come January. (Of course, you can always hit the 'after Christmas' sales -- but only if the store hasn't gone bankrupt!)

My advice (in addition to Jan's great comment) -- bake something, make something, or share your time with people you care about. It's the only kind of gift whose value increases over time.