Year over year growth of 2.4% is nothing to write home about.... but “imploding”? Sensational headline alert.
What is the growth of department stores and on-line purchases together?
Does a store that has both bricks and mortar and on-line sales separate each division?
Everyone I’ve talked to, after years of no rent increases, is on their second round of increases in the last 12 months. My monthly gasoline bill has nearly doubled (and that is with cutting back dramatically on my driving), and the grocery segment of the monthly budget has grown about 25% despite paying special focus to bargains and deals.
The overall cost of living has dramatically increased.
People are buying on craigslist. Look for good deals.
I quote:
“The part of the retail report flashing red is the sales of General Merchandise stores, and particularly department stores. This category includes the likes of Wal-Mart, Target, Costco, Sears, Macy’s, Kohls, and JC Penney. General merchandise sales fell 0.5% in July, with Department store sales dropping by 0.8%. Sales at these behemoth retailers have barely budged in the last year, with overall sales up a dreadful 0.3%. The dying department stores have seen their sales plummet by 2.7%. The talk of a retail revival is dead on arrival. Wal-Mart and Target muddle on with lackluster results, while JC Penney and Sears continue their Bataan Death March towards the retail graveyard.”
Gee, how many of these stores are involved in promoting queers, demoting the natural sexes, enabled by government to watch and snitch on shoppers?
Just this past weekend, I ordered a replacement blade for my lawn mower, some accessories for my grill and tweezers from Amazon. These are items I would have gone to Sears or the local hardware store for just a few years ago. Now I just search for what I want and click the order button and it shows up at my house a couple days later.
Lots of cheap Chinese goods don’t help the sales.
Maybe the Trump boycott is affecting some.
ping fyi
It’s not Amazon or Fedex or Ups. It is reduced sales due to reduced personal revenue. Family income is really low and it awaits a new administration which understands just what is happening.
The recession is still as strong as it was 5 years ago.
Well heck, my list of boycotts is so large I barely shop at all.
That’s why Trump is leading on the poll.
I’m sure the fact that 25% - 30% of US adults are out of the workforce has nothing to do with these retail results.
70% of GDP is buying crap made elsewhere and we wonder why wd are in trouble.