Posted on 02/11/2014 10:49:47 AM PST by Para-Ord.45
Hundreds of stores across the nation are closing as some of Americas most famous retailers struggle to stay in business. The country is facing what CNBC has labeled a tsunami of store closings and blogger Michael Snyder has called a retail apocalypse.
JC Penney, which lost $586 million in three months in 2013, is planning to close 33 stores in 19 states and lay off 2,000 people. JC Penneys stock has lost 84 percent of its value since February 2012.
Sears has decided to shut down its flagship store in Downtown Chicago, and it has closed 300 stores in the United States since 2010.
Macys, one of the few retail success stories, is planning to close five stores and eliminate 2,500 jobs.
Radio Shack is preparing to close 500 stores, according to The Wall Street Journal.
Best Buy recently closed 50 stores and eliminated 950 jobs at stores in Canada.
Target announced plans to eliminate 475 jobs and not fill 700 empty positions to reduce costs
(Excerpt) Read more at newswatch.us ...
“Is it my imagination or are these Anti-Traditional Value stores?”
I think that’s a stretch. The civilians are plain tapped out and/or bunkering down.
Or buying stuff online.
stole your graphic.
deadmalls.com (select area of interest)
Go to where you live and where you grew up to see if your favorites are represented accurately.
Don't forget they can cook meals for their families now too.
And what are these chains doing to try and right their positions and return to health?
LOBBYING FOR AN INTERNET SALES TAX ON THEIR ONLINE COMPETITORS!
Oy Vey!
They could not possibly be closing these stores because they discovered they had opened too many of them and that folks are spending less time in malls and more time ordering online.
You don’t need a weatherman to see which way the wind blows. Food prices are rising, energy prices are rising, health care prices are rising... What is left for discretionary spending?
Reminds me of the Oprah segment from Copenhagen. Oprah visited an upper middle class family’s small apartment and asked ‘Where do you keep your stuff?’ They answered, “What stuff?”
Democratic Social Economic Populism here we come.
We didn’t have malls when I grew up....................;^)
“Dont know about Sears or Radio Shack, but JC Penney is a big homo promoter, as are Best Buy and Target.”
Radio Shack madethe American Family Association ‘Naughty List’ on the Christmas-Friendly barometer.
Target and Sears were added to the Christmas-Friendly list after an extended boycott last year.
It must be the economy. /s
J C Penney did themselves in with their homo ad program. Not sure about the rest.
Progressive insurance would be right behind them, except the margins are high enough to keep them going.
Why would I want to go to a mall with all of the rampaging Trayvons going around the stores?
Good point. But that only accounts for half the population. Going out shopping (gathering) is part of the female genetic code, well and nancy boys.
I think it’s mostly a bad economy and the continued onslaught of online shopping.
If promoting/accepting homosexuality was a major negative factor, I’d think Apple/Amazon/Home Despot/Starbucks etc would be in the dumper.
Wow.
So whats causing the retail apocalypse? Different analysts have different answers. Motley Fool writer John Maxfield blames Amazon.com and other online retailers. Maxfield notes that online retailers have lower overhead and often can offer better prices.
amazon and Walmart will be the last two standing. Once they've eliminated all (or most) of the competition, they will raise their prices and increase their profitability.
Another good point.
Like Amazon?
Democrats: Think of all those people who will have more time for leisure now! Those awful jobs are going and we are liberated!
/sarc
The image you posted “my work here is done”, came to my mind before I even opened the thread. However, I was thinking it is incorrect and should read “My work here has just begun.”
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