The new year means it's "do or die time" for four major retailers, and several other longtime brands.
The Wall Street Journal says that unless they get their act together, these stores 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.
The report says Best Buy is losing business due to "showrooming," where people visit the store, then shop online.
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.
Another store in trouble: Radio Shack, whose move into cellphones "backfired," according to the Journal.
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
The analysis firm 24/7 Wall Street makes headlines every year when it predicts businesses, stores and other big name brands that could go under in the coming months.
Sometimes it is correct, sometimes it is wrong, but it is always interesting.
24/7 Wall Street says the following companies are in danger of going under in 2013.
-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.
-Metro PCS, the tiny cellphone carrier.
-Suzuki American Motors, which sold just 10,000 cars in the US in a recent 6 month period.
- Al Gore's Current TV, which days after making this list announced it was selling itself to Al Jazeera and shutting down. How's that for a prediction?
-And the Oakland Raiders football team, which is expected to move.
With many of these predictions, the company doesn't disappear, but is gobbled up by another company. In many cases, employees continue working for the new owner, so this report does not mean that millions of jobs are in jeopardy.
But the bottom line is these are struggling brands worth watching in 2013, so you don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
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