Sign of Economic Apocalypse #7: Steve & Barry's in deep trouble

It blows my mind how so-called businessmen can screw the golden pooch like this. Decent clothing at great prices and they STILL managed to fuck it up.

http://online.wSportsJournalists.com/public/article_print/SB121486920976317689.html

 

Story says they were really never making money anyway.

 

So then why expand like crazy?

Edit: Their expenses were minimal as well. I read something last week (a good friend works there and has been sending us stories) about how their labor fees are miniscule b/c they produce in the cheapest countries possible. They're certainly not occupying a ton of prime, expensive real estate in Port Washington, NY. And I believe they also have a really low advertising budget and rely almost entirely on word-of-mouth.

Yet they're still screwing the pooch. Idiots.

 

That makes sense, given where they seem to locate their stores. The only two I know of are located in a former Wal-Mart on a rapidly declining side of of town and in a dead mall that had become 2/3 empty and 1/3 ghetto fabulous. So landlords desperate for a tenant advance them some upfront cash, and they keep opening stores to get that hit and cover the losses from the stores already open. Basically it worked like NHL expansion.

 

Lono: "Hey BYH it's Lono. Listen up: It's Adrian fuckin Beltre bobblehead night and you're not here. We're very, very disappointed. Later."

IJAG in the background: "Later BITCH. Hang it up."


lol - better than high school

 

The one near me, dixie, is in one of those huge Mills outlets -- just a huge warehouse of a store.

 

Non, meet sequitir

 

I fucking love(d?) this place. Incredible prices (like $4 for college shirts) and good quality.

 

Swear to god, I thought he was talking about the ice cream place. I've never heard of steve and barry's.

 

Well they would have expanded to your neck of the woods next week but now they're out of money.

 

The only one I've been in is in the Block of Orange, a hip outdoor mall in the heart of OC frequented by a lot of teens and 20somethings.

And it was massive, with good stuff at great prices. We bought about $75 worth of stuff and walked out with two big bags.

But that business plan? Ponzi 101.