Posted on 06/07/2024 11:05:19 AM PDT by george76
Retail stores are being shut down at a staggering rate all over the country. If we stay on the pace that we are on, the total number of stores closed in 2024 will be nearly 40 percent higher than the total number of stores closed in 2023. That is what you call a crisis!
Meanwhile, banks are shuttering hundreds of branches from coast to coast, and a “restaurant apocalypse” is sweeping across the nation. Everywhere around us, “space available” signs are going up on buildings that were once considered to be prime commercial real estate. If someone tries to convince you that the U.S. economy is in good shape, just show them this article and ask them why so many once prosperous businesses are closing. Needless to say, they will not be able to win the argument after that.
According to the Daily Mail, nearly 2,600 store closings were announced during the first four months of 2024…
US retailers have announced the closure of almost 2,600 stores in 2024 – just four months into the year.
Big names including Macy’s, Walmart, Walgreens, Foot Locker and 7-Eleven have all said they are closing shops.
But discount stores like Family Dollar and bankrupt 99 Cents Only have been worst hit, as have drugstores like CVS and Rite Aid.
If the U.S. economy is heading in the right direction, why are many of the largest retail chains in the U.S. shutting down stores?
That wouldn’t make any sense at all.
If this pace remains constant throughout the rest of this year, we would hit a grand total of approximately 7,800 store closing announcements by the end of 2024…
If the closures were to continue at the same rate for the rest of the year they would total 7,800 in 2024 – almost 40 percent more than the total in 2023.
When the number of retail stores shutting down goes up by 40 percent in a single year, that is a sign that your economy is really “booming”, eh?
Sadly, we are losing more stores with each passing day.
On Thursday, we learned that a major convenience store chain in Wisconsin has decided to close down all of their locations…
Wisconsin convenience store and gas station chain The Store is being forced to close all of its 25 locations.
The Store, established in 1976, will shutter its businesses at the end of July. It also has locations in Michigan.
In some cases, stores are being closed down due to rapidly slowing economic conditions.
But in other cases, stores are being permanently shuttered due to the unprecedented wave of retail theft that never seems to end.
Earlier this week, I was intrigued by an article that was cleverly titled “Lego thefts across Southern California leave police trying to piece together clues”…
Believe it or not, the Lego sets and figurines collecting dust in your childhood bedroom could fetch a pretty penny.
So pretty, in fact, that two suspects have allegedly stolen more than $100,000 in Lego merchandise from six Bricks & Minifigs stores across Southern California.
The Lego reseller, which stocks mini figures, accessories and bricks, has more than 100 outlets across the U.S.
The Riverside store was the first one burglarized, with the suspects hitting it April 3, followed by Ontario on April 12, Whittier on May 3, Irvine on May 9 and the Costa Mesa and Fullerton locations on June 1, Whittier store owner Katie Leuschner said.
“Shrink” is costing U.S. retailers more than 100 billion dollars a year at this point.
In this sort of an environment, it is difficult for any retailers to be profitable, and that is especially true in our major cities.
Meanwhile, our banks are shutting down branches at a feverish rate.
So far this year, more than 400 locations have been permanently closed…
US banks closed 79 branches in just six weeks – as the industry increasingly offers services online.
The figures suggest the axing of costly bricks-and-mortar locations will continue, with total closures so far for 2024 above 400.
California is worst affected by the recent closures with 20 registered shutterings between April 20 and June 1.
When banks get into trouble, they get really tight with their money, they fire workers, and they close branches.
So expect to see a lot more branches get shuttered during the months ahead.
We are also in the midst of a “restaurant apocalypse”, and that is very bad news if you like to eat out a lot.
For example, Red Lobster recently closed 93 locations earlier this year, and now we have learned that 135 more are on the brink of being canned if they continue to lose money…
Red Lobster is ready to close another batch of more than 100 restaurants if it is unable to renegotiate cheaper rent with its landlords.
The seafood chain abruptly closed 93 of its 700-odd restaurants on May 13 – and the next week filed for Chapter 11 bankruptcy in the hope it can restructure its debts.
New court documents reveal that there are another 135 restaurants that bosses say will keep losing money if leases stay as they are, Restaurant Business reported. The option is for the company to pay less rent or shut them.
If I owned a restaurant chain, a bank, or a major retailer, I would be trimming locations too.
Economic conditions are horrible, theft is absolutely rampant, and the violence in our streets is rapidly approaching levels only seen in the most dangerous areas of the planet.
Earlier this week, Collin Rugg posted an account of a particularly alarming incident that just happened in Chicago…
A woman identified as ‘Nina’ says she was walking down the street when she got surrounded by teens who assaulted her.
Her crime? Walking down the wrong street.
“We own the street, we own the street. You can’t just walk around prancing in your little dress,” the gang of about 10 said.
They then held her husband back as they beat her, ripped out her hair, pepper sprayed her face and kicked her in the stomach.
“First someone approached him and hit his head, punched him in the head, and he looked back and he looked at me and told me ‘run’.”
“Another lady came to me and dragged me with my hair on the ground.”
“I started screaming she started pepper-spraying me right in the face, in the eyes.”
“Another person starts stomping all over me, and my husband ran towards me to save me and over 10 people held him.”
She lost her baby hours later.
For a long time, I have been warning that “chaos” would be coming to the streets of America.
Now it is here.
And it is getting worse every single day.
Unfortunately, most Americans still don’t understand the fundamental transformation that is happening to our society and they still believe that our leaders will be able to return things to “normal” eventually.
Not to worry - soon you’ll be getting your food delivered from the myriad mega-warehouses being built. Just make sure you keep your social credit score up so you get your chocolate ration
It will take an overnight market crash. October. Biden gets blamed and Trump declares: “I’m gonna get you out of this”. Voters respond and the only thing the democrats can say is that it will be Trump’s Reichstag fire if he gets elected.
Banks were failing-2 a week-prior to Oct. 1929.
Under “Bidenomics,” fast food has become a luxury.
French fries at McDonalds soared from $0.99 to $3.99.
Little Black children are going hungry under Biden.
In 2017, when Donald Trump was president,
Happy Meals for kids had their prices slashed up to 25%.
People with lower incomes were well-fed under Trump.
McDonald’s much-anticipated new 2017 value menu means massive prices cuts for customers, a roughly 15% price reduction across the chain’s full menu.
........some items are already being sold at similar prices, leading up to the launch of the new value menu. Happy Meals for kids — are going to have their prices slashed by up to 25%.
<><>$1 items include the Sausage Burrito, McChicken, and Cheeseburger.
<><>$2 Items include Buttermilk Crispy Tenders, Bacon McDouble, and McCafé beverages,
<><>$3 gets kids tummy-filling Happy Meals and Triple Cheeseburgers.
While the McPick 2 has helped drive sales over the past year, a new national Dollar Menu is a major move to win over customers looking for value.
The company is throwing a huge amount of weight behind the effort, increasing its already massive national advertising budget by 20% starting in 2018.
Retailers losing sight of their customer preferences and needs (EG Target) and
A huge shift in buying habits brought on by the covid lockdown. People now are simply buying online instead of in stores.
INHERENT BLESSINGS OF BIDENOMICS. MUCH MORE COMING AROUND THE CORNER. ELECT BIDEN FOR RECESSION, DEPRESSION and MORE WORLD MISERY. BE STUPID AND GO DEMOCRAT.
“the gang of about 10”
let me guess, Amish feral yutes
The biggest problem in the cities is that they DO NOT enforce theft crimes anymore.
It is okay to shop lift.
Last night I watched Tucker’s interview on YouTube of the president of El Salvador. This is the man that is responsible for turning the country around from the most dangerous place in the world to the safest country in the world. They had a murder rate higher than Haiti. Now it is one of the lowest in the world. They did it because they arrested the criminals and put them in jail. They also changed the prisons so that the criminals were not in charge. They do not tolerate shop lifting or petty crime.
So now people from El Salvador who live in other places like the US are coming home. It is literally a miracle. He said it was because of Gods help. That they pray to God during cabinet meetings.
IMHO everyone needs to watch this interview. FYI, the MSM(commies) does NOT want you to see this.
It’s okay, Biden said we’re going to Build Back Better. All he needs is four more years and everything will be just peachy.
>Not to worry - soon you’ll be getting your food delivered from the myriad mega-warehouses being built. Just make sure you keep your social credit score up so you get your chocolate ration<
Looks like they want us to order products online and they can keep a closer eye on everyones business. Guess the future generations will be happy with it
until they come put them on the trains. Well, maybe not, they’re too drugged too care.
Oh, and no more private anything!
Finally all these people can spend more time wit their families, and besides, Collecting Unemployment “stimulates the economy” according to Pelosi.
There is a larger trend I see going on in retail and housing. Corporations and emarkets are squeezing out mom and pop retail operations.
Folks don’t have the traffic to sustain smaller retail. So younger people only have options to work for the corporation. They don’t have the opportunity to start and grow their own profitable operation.
In urban housing what we see are many rental units being built, to house the corporate employees stuck on a corporate treadmill. Only a few advance enough to where they are able to buy their own home.
Of course this is the goal of corporate socialism, reduce entrepreneurial opportunity, actual ownership of small businesses and personal wealth.
From everything I've been able to tell, that's really THE major reason.
Granted the economy isn't good, but between theft and violence, people don't want to go out and risk their lives to shop.
Thanks democrats.
One of the things I read decades ago was a comparison of US retail stores to European retail stores. The most striking difference was the store square footage per dollar of retail inventory on display.
Let me put that another way. Let’s say you have a rack of women’s dresses or a table with men’s blue jeans on display in a US retail store versus a European retail store. The US store will have much more square footage devoted to selling the same number of items at roughly the same cost. That translates into much higher retail store overhead costs.
With the introduction of internet sales, retail sellers are dramatically reducing overhead costs associated with a retail brick and mortar store. Just about all major retailers now have an internet sales component.
If there is an excess of retail floor space that needs to be purged from US sales, then this should not be surprising. If you factor in increased theft due to lack of policing, and prosecution, along with a collapse in discretionary spending due to inflation, this collapsed of the retail industry should not come as a surprise.
They did not care about the right of the criminals!
They basically arrested everybody under suspicion. Then they eventually released the few of the innocent ones.
Well, if the Trump-nazi Supreme Court had left Roe versus Wade intact, this would not be a problem. We would have aborted most of them in accordance with the design of the Planned Parenthood founder, Margaret Sanger.
I’m not sure why I got this one????
Those that control the world’s finances will keep this turd floating until Trump is elected.
Afterwards, they’ll let everything crash and blame it on Trump.
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