Are Retailers in a Recession?

With the following recent headline news of store closures and layoffs in the Retail Sector there
is some indication that retailers are experiencing or predicting a recession:

– GameStop also said it expects to close 2 percent of its stores totalling about 132 locations
– Toys R Us laying off 500 staff
– Levi Strauss & Co. laying off 800 staff
– Walgreens is closing 76 Unprofitable Stores
– Sbarro Pizza declaring bankruptcy
– Quiznos Subs declaring bankruptcy
– Best Buy laying off up to 2000 Managers
– RadoShack closing 1100 stores
– Sony to close 20 of it’s 31 US Retail stores
– Sears Canada closing numerous store locations and laying off 1600 in Canada
– Bi-Lo announcing 13 store closures
– Big Lots exiting entirely from Canada
– Brookstone preparing to file for bankruptcy
– Macy’s laying off 2500 employees
– JC Penney closing 33 stores and laying of 2000
– Kmart closing many stores and laying off staff
– Dots declared bankruptcy
– Ashley Stewart declares bankruptcy