Posted on 03/06/2014 4:24:24 AM PST by Red in Blue PA
(Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015.
Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates.
The company operates 1,515 stores in the United States and 331 stores in Canada.
(Excerpt) Read more at finance.yahoo.com ...
Radio Shack
Staples
Best Buy...
The beginning of a long list. Obama’s legacy.
Well, perhaps over expansion is in play there also.
Locally, Cabela’s is building a new store. They have been at it for over a year. The site they chose is many acres. The main acerage is (was) actually a short hill. That is a scoop of ice cream shaped hill that is say 75 feet high, solid rock.
They have been chewing on that solid rock hill for at least a year and are only about half way through. The excavated rock is being used in a classic cut an fill operation to fill the adjacent hollow. I can’t begin to guess the cost. The site is adjacent to Virginia Exit 5 on I 81.
Meanwhile, down the road at Tennessee Exit 1, Bass Proshops has completed their dirt work and have the steel up.
Bristol is somewhat different than other places though. The Bristol Speedway draws 150,000 fans twice a year from all over. They come and camp for several days and go shopping. You might not believe it but there are thousands of RV’s that come for the races.
To illustrate: They are unable to connect the pain in their big toe to the hammer they have in their hand and are hitting the said toe. Hence, they continue whaling on their toe and complaining about the pain.
As far as attempting to explain this to them goes; forget about it is a total waste of time. It would be similar to explaining a physics problem to a nursing age infant. I used the term "similar" because there is a slim chance that the infant may comprehend; there is no chance that an Obama worshiper or Democrat voter will ever understand what you are saying.
So true.
I fear for my country knowing that this truth is so glaringly real. The problem is bigger than Obama and the democrats... Sometimes I think we're just doomed.
I don't understand how people can be so out of touch on these issues. Do some research.
Yes, Old Navy too, but Office Depot is every bit as bad. Add Homo Depot to that list as well.
More enslaved workers freed from the the drudgery of a job.
Exactly right. As a small-business owner, I need a lot of what they sell. I will ONLY buy their sale items, and then they’re actually pretty competitive.
For example, I recently needed a new color laser printer for the office, and their price including shipping was within $10 of the best I found on-line, and they had next-day delivery included in their price, so they got my business on that one.
Their coupons on paper are also usually good - and I stock up when the biggest discounts are offered. I recently got 2 cases of general purpose printer/copier paper for next to nothing after rebates, which they helpfully allow you to submit on-line.
But their “every day” prices on everything else are through the roof. They have probably conditioned every one of their customer do act like I do, which leaves high-priced inventory sitting on shelves, and low-margin or loss-leader items flying off the shelves. Can’t cover all of that overhead with a model like that.
But there are plenty Dollar General, Dollar Tree, and Family Dollar stores taking their place.
****************
And Walmart moving towards the smaller markets with their Express Stores and Neighborhood Markets.
I like going to stores for a few hours each week to shop, but not lately. The problem is inventory. There's usually too much stale merchandise and too many best sellers that are out of stock.
Look at the stores now. They're stocking spring clothes and gardening things, when people need to replace winter stuff that's wearing out. It's weird that in the age of technology that retail is less responsible to current situations.
This is the age of just-in-time supply chain management. Decades ago, they might have simply brought out some extra winter stuff from a warehouse to react to unexpected weather conditions. Now, the warehouse is closed, the workers laid off, the bonuses for the executives pocketed, the spring stuff is shipping from overseas just as they planned on needing it...and due to an inaccurate long-term weather forecast they can't get more winter items until next fall. :)
Precisely.
True dat. A few weeks ago the wife really needed a new pair of warm winter boots as hers were worn out. Her feet were freezing as she would wait for the bus on the way to and from work.
We went to Fleet Farm, REI Gander Mountain and Sports Authority. Not one pair to be found.
I have been an avid reader for 54 years. I go through several novels/month.
While I will buy a used paper book for .50/ea at my favorite thrift store and sometimes splurge on a discounted hardbound for 4.99 at Walmart, ALL my reading now is on a Kindle.
Why is it crap because it is online? I can read the first 10% of any book I buy at Amazon by clicking “Look Inside”. I can also browse reviews at the sale site and then search for other reviews, all within just a few minutes.
I have access to books that are free on promotion and others that cost me $1-$6, as opposed to dead tree versions of the same books that often retail for $25 or even more.
If I previously bought a physical book on Amazon, I can also download an electronic version for free. I can also share them with another Kindle owner.
I am a genre reader and so, I am happy about all the indie authors available online. Some stink. Others are awesome. I am able to make informed decisions I was not as capable of making when all that was available were the physical books selected for publication by the publishing companies.
The online indie market is a godsend for the new author. They can publish, offer their work to the world and utilize the feedback via sales and reviews to improve. In this horrid economy, all an author needs today is time and an idea. The author gets 70% of the sale price. None of their profits support corporate structures. Their work does not languish in a slush pile. They have no need of a literary agent. If the book is popular, it will be solicited by a physical publisher and/or a film studio. I even watch a fair number of indie films these days, via Netflix. Some are great. Some aren’t. But they are not made by large studios and often cover subjects the liberal studios ignore.
As a conservative, I especially appreciate that an ebook can be politically incorrect. For example, our own Travis McGee’s work, which may or may not have been published by standard means, but which have reached millions by virtue of the online venues. (pinging Matt so he can comment from a successful author’s POV)
Everyone DOES buy online. Magazines are available digitally, every single one of them. And they are filled with the same formulaic crap they are in clay-coated glossy color format. They are loss leaders and often offered free or at very low prices compared to the physical copies. The bookstores shut down because they simply can’t compete with the same book being sold for much less in digital format.
Finally, I used to have to travel 45 miles one way to even find a bookstore. When my reading habit reached $50/month, I had to cut back. Then I discovered Amazon and was into 4-for-3 paperbacks and the occasional new hard bound or trade paperback for $15. Then, THAT became too expensive. I would read online via my computer, which is not relaxing. My Kindle goes to any place I want to read that isn’t wet (which what I buy the paperbacks for).
Online shopping is killing many brick and mortar businesses. On the bright side, the online retailers are employing people. In my town the Staples store is competing with itself. There is another Staples store 4 miles away in the next town. One of the two stores should close.
I go to Office Depot a lot. I can’t even think of where a Staples is. No big loss. If we lose Office Depot too then Amazon best have a bunch of business products to purchase.
Book stores as well. And I don’t buy the crap that everyone buys on-line now.
But it is true. All book stores will be close by 2025 except old antique book stores. I guess you were saying the same with Blockbuster....oh people aren’t using Amazon Instant Video and Netflix a few years ago. Technology changes buying habits big time and book stores are soon to go.
have never seen such a staggering cover-up of a cratering economy
You luckily didn’t live during the late 70’s then. That was worse than this. Sitting in line for hours just to get gas. It was horrid.
They will admit it........as soon as we have a Republican president. Then that’s ALL they will talk about.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.