"The Targets, the Wal-Marts -- there's more variety, they're larger," said Janice Triplett, 55, who teaches dental hygiene. "It's like a one-stop shop."
Discount stores have been among the biggest beneficiaries of economic stimulus checks issued by the government in recent months. Shares of Wal-Mart Stores Inc. have gained nearly 22% since Jan. 1. Big Lots Inc. has seen its stock rise by 86%.
More broadly, sales at stores open a year or more rose 4.3% in June, the strongest monthly advance in more than a year, according to the International Council of Shopping Centers' tally of 38 chains nationwide. Wal-Mart posted a 6.4% jump, its biggest in more than two years, and BJ's Wholesale Club Inc. notched a 16.5% gain, its best in at least seven years.
But many traditional department stores, including luxury retailers, are struggling. The shopping centers council estimates that 144,000 stores will be shuttered nationwide this year, 7% more than in 2007 and the largest jump since the trade group began tracking retail bankruptcies 14 years ago.
It estimates that national chains will account for about 6,500 closures, and independent stores will account for the rest.
Britt Beemer, chairman of America's Research Group, predicts that the industry is in for a miserable Christmas that will be followed by more bankruptcy filings in the first three months of 2009.
"You ain't seen nothing yet. It's going to be a blood bath," he said. "I think retailers are going to be extremely weak financially coming out of Christmas."
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leslie.earnest@latimes.com
Times staff writer Andrea Chang contributed to this report.
