Some well-known businesses may have to contract to survive - FOX 26 News | MyFoxHouston

Some well-known businesses may have to contract to survive

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HOUSTON (FOX 26) -

Some major retail companies may be finding that there is not enough business to go around.

USA Today compiled the list of companies whose financial struggles may force them to get smaller in order to survive. The most significant names include JC Penney, Sears, Best Buy and Barnes & Noble.

All of those companies have seen flat to shrinking sales in recent years. While not in danger of failing, financial and business analysts say the closure of hundreds of stores is quite likely.

"All of a sudden, they found themselves with less demand and the other factor, which is very critical. Demand is shifting to the online model. So, now they're not just competing with brick and mortar: they're competing with a whole new world of online retail," says marketing and business strategist Paul Galvani.

While some retailers, like Barnes & Noble, have already announced their intention to close a number of locations, USA Today says most on the list are not likely to be profitable if they keep all their current stores open.

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