They see people are not going out shopping and using the internet. A lot of Ruby Tuesday’s are connected to malls.
The absolute best thing for nearly all local economies would be for more and more chain stores to close. The vacuum would be filled by local entrepreneurs who return more to their communities, create more jobs, and invest in ways that help create wealth and good healty communities.
Chain stores sack up the cash and ship it to corporate headquarters, where the emphasis is on satisfying shareholders.
This author ever hear of Amazon?
Bookmark
I think the “excuses” are more reasonable than not.
It’s bad management and social change probably more than the economy.
Ruby Tuesday isn’t very good. And these chains lower the quality of their food.
Fewer and fewer play sports nowadays.
Fewer people do make clothes or do things that fabric stores cater to.
Hobby shops don’t exist anymore either.
Going out of business seems to have a history of being looked at as a good thing by Wall Street.
Remember: they make money off of the churn, even if you loose your skivvies.
Moreover, they ar bouyed by institutional investors like insurance companies with huge piles of swag looking for a return.
Additionally, what with their adoration of bears and fear of bulls, I occasionally wonder that bad news is seen as proof the news isn’t too good that they should be worried. Toss in the fact that humans are able to rationalize their way into ever greater danger (unlike frogs, who lack that ability, we would get broiled) and you have at least the makings of being like the optimist who was heard to yell “So far, so good!” as he fell past the 20th floor.
Drat, I got bull and bear swapped. Bad editing on my part.
Excellent article Mr. Leo.
Except for the part where you write the Paul Ryan economic plan is a good solution.
Paul Ryan is a poisonous RINO.
Excellent article.
For later reading
What is the fascination with restaurants, supermarkets, pharmacies, even hotel lobbies to crank contemporary music at a loud volume? Music is a personal taste and it varies by consumers. I went into a Ruby Tuesday recently and the music was loud and at times painful but then again it is repeated at seemingly every juncture of public facilities. And almost always it is female vocalists trying to extend every note to the max. I had to ask my girlfriend about two that were particularly obnoxious and I was told the artists. It can be hard on the ears and makes it uncomfortable in certain environments. Such music should be played at minimal tones if at all.
He’s forgetting a thing or two. It was also Republicans that voted for and supported NAFTA.
There are also many that support TPP.
A lot of people laughed at Ross Perot but he nailed it.
That great sucking sound will be your job heading to Mexico!
The stock market is not the economy.
It’s a gambling casino for wealthy people...... .........
ping
I agree with Mr. DiLeo on most of his points. However, store and restaurant closings are inevitable where there is keen competition and new entrants into a sector provide a better value and experience than the incumbent.
Sports Authority is a good example. They couldn’t compete with new entrants into the sporting goods market such as Dick’s Sporting Goods and Academy Sports. Outfits such as amazon.com hurt them also.
I live near a Hancock Fabrics store. I’m not sure what their business plan or target consumer group(s) are. Where I live in the DC area, there are numerous outlets that sell what they sell, to all different income levels.
Their store won’t be empty for long, as it is located in a successful strip shopping mall near a major intersection in my town.
Same thing with Shoppers Food Warehouse. They are closing their store about a mile from my house (although two other stores in their chain, both within 6 miles of my house, will remain open). Across the street from Shoppers is a 24 hour Walmart with a complete grocery market; one mile south is a Harris Teeter, an upscale grocery which is now a Kroger enterprise; one mile north is a large new grocery targeting the Asian-American market called H Mart. There are two competing supermarkets catering to the sizeable Hispanic population around here.
Giant Food (Dutch owned) and Food Lion (Belgian owned) are two well known names here; their companies have merged, and to get approval for the merger, they had to agree to sell 93 stores to buyers who would agree to keep the stores open. So, we will have at least two new entrants to the grocery business in Virginia, Pennsylvania-based Weis Markets and Florida-based Publix markets, as a result. Giant/Food Lion found other companies to take over their stores in Maryland.
In other words, we don’t live in a static, zero sum world. If you don’t think that competition is good for consumers, go visit a Wegman’s supermarket. They’re making everyone in the grocery business either get better or die.
Good advice to live by, and I do. The modern day Democrat Party is not just the enemy of America, it is the enemy of all mankind. In all sincerity, in all truthfulness. They will destroy the whole world if they get their way.