Luxury retailer Barneys ($PRIVATE:BARNEYS) is looking less Barney Pressman and more Barney Gumble these days.
The company filed for bankruptcy on Tuesday, August 6. The company will reportedly shut down stores in Chicago, Las Vegas, and more than a dozen other locations, keeping Barneys stores open in New York, Beverly Hills and San Francisco, among other locations. Our map below charts out all of its current stores.
in July, Debtwire reported the company was seeking out financial advisors in advance of a potential restructuring, and that the company's most recent fiscal year ending February 2019 resulted in a $70 million loss. A look at the company's alternative data shows lower job postings, declining social engagement and brands backing away from the once-prominent retailer, founded nearly 100 years ago by New Yorker Barney Pressman.
Our next chart above tracks job postings - Barneys has seen postings fall about 15% since the quarter began.
The last chart tracks Barney's Facebook ($FB) Talking About Count, or how much people reference the retailer on the social network. After a few spikes over the last couple of years, Barneys' Talking About Count, tracked on a percentage-basis year-over-year, went negative in early 2019, a bad trend for a brand already facing bankruptcy.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Discount data shows how H&M saved itself from potential bankruptcy
- Hiring and foot-traffic trends indicate it may be too late for a JC Penney turnaround
- Forever 21 faces Chapter 11 - data tracks the fashion retailer's decline
