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"The intimacy of small stores is lost," he says gloomily.
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Big box retail stores are losing relevance, while e-commerce and specialty stores grow in appeal.
The stores are losing an estimated $900,000 a year, said Kelly Armstrong, an analyst at Wheat First Butcher Singer.
By the time Hilco took control, 70% of the stores were losing money.
The figure might be higher still, but many stores are losing money and are not easily sold.
"You know those other stores are losing money by being closed right now," said Latasha Jones, 46, at Old Navy.
Movie rental stores are losing appeal, and the costs of pay-per-view/on-demand cable programming can add up.
One of the reasons Donna Karan decided to sell to LVMH was that most of her outlet stores were losing money.
And most online stores are losing a fortune: even MarketplaceMCI, the glossy online mall set up two years ago by MCI, an American telephone giant, has since shut its doors.
The grocer has signed rental agreements on numerous Extras and Superstores that commit it to rising rents, even if the stores are losing money.
Sonic's 110 company-owned stores were losing a total of $1.5 million a year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com