Posted on 05/13/2023 3:39:11 AM PDT by dennisw
A combination of reasons are responsible for some of America's most beloved chain stores closing en masse across the country Walmart, Nordstrom and Walgreens stores are closing because of issues such as theft, rising rents and the fact that so many still work from home, experts say
One expert suggested that retail outlets will likely return but it will be a different experience for shoppers
Chains such as Walmart, Nordstrom and Walgreens are shuttering across big cities due to crime, work from home, online shopping and rising rents, experts warn.
A study from the JP Morgan Chase Institute found between 2017 and 2021, San Francisco, LA, San Diego, New York, Seattle, Miami and Chicago all lost major stores.
By the end of 2023, Walmart will have closed 60 stores since 2021. This year alone, Nordstrom will shut 15 stores and by the end of 2024, CVS will have shut 900.
One expert told CNN that when the big stores go retail will 'start to come back in different ways and forms.'
Last month, former retail giant Bed Bath & Beyond announced its bankruptcy.
The declaration came after months of dire financial news, which culminated in the closure of 236 stores in February.
Since then, Bed Bath & Beyond had struggled to maintain its 360 brand-name storefronts and 120 Buybuy Baby stores in the face of nearly $5.2billion in runaway debt.
Its demise was in part credited to the success of Amazon and other online giants solidifying their place in the market.
Investment bank UBS warned earlier this year 50,000 stores would close by 2027, cautioning 'the pace of store closures is set to accelerate due to the combination of a slowdown in consumer spending, a reduction in the availability of credit, and a rise in the penetration of e-commerce.'
(Excerpt) Read more at dailymail.co.uk ...
My daughter worked for Walgreens as a pharmacy tech and they put her on a path for management but placed her in the questionable areas around town. She got a job at a large insurance company right before Thanksgivings and I remember my dad saying that once she realizes she gets Thanksgivings off with pay, she’d never go back.
I have no problem with paying eBay. I have a credit card listed with them. No monthly payments are demanded. And I have a PayPal account I can use. You should try eBay again.
I acknowledge this store closure "problem" is multi faceted, but the Walmart - inner city - closing problem is single faceted. CRIME.
“I guess these stores will be replaced with vape shops, “medical” marijuana “clinics,” and tattoo parlors.”
Tattoo removal parlors have a bright future. If I was an MD, I would open one and try to make it into a reliable chain. Where the job gets done, and you do not get scarred or injured. Prolly in most states anyone can open a tattoo removal business. As long as they have an MD supervising. Who can supervise remotely via zoom.
Have customer reviews on site and also at Yelp
“Another thing I’m watching is that Dollar Tree seems to be opening stores in smaller towns where Dollar General has been established for several years.”
My local supermarket is next to a Dollar Tree store. This morning, after the supermarket, I went into the Dollar Tree for my favorite hot sauce. Unfortunately, it is available sporadically. And no luck today. Dollar Tree has a good hardware section.
CEO of grocery chain sounds alarm over the ‘dumb things’ US government is doing
https://freerepublic.com/focus/f-news/4152944/posts
EXCERPT:
When FOX Business host Maria Bartiromo asked John Catsimatidis when Americans will see a break at the supermarket he said: “When the food executives feel confident that Washington is not doing dumb things.”
Washington, DC is a ghost town due to all the Federal workers pretending to work from home. We all know they do jackShtye from home. Maybe two hours a day. But as Washington DC restaurants (lunch hour) and businesses suffer, the local businesses are doing OK. Say some Federale lazybones is WFH in Falls Church, Virginia. He will eat at, and get takeout from the local pizza and Chinese restaurants, and patronize the local supermarkets and other local businesses
A friend of mine standing in line at Wal-Mart saw another customer hiding an unpaid item under their coat. My friend quietly reported the theft to another cashier and was told to forget it, don’t make a fuss. The store let the person leave with the stolen item.
Retail is a foreign word missing from the Black vocabulary.
There will be no resurgence of Black entrepreneurs opening retail outlets to replace the retreating Walmart’s.
When around 12, a friend stole an Andes mint from an open candy jar near the counter of a small grocery store. I think they were 5 cents. Busted. Held. Cops came. Then his mother, crying and in shame. Cop and his mom both gave the rest of us a Come To Jesus lecture. Quite a different world.
We would probably be in better economic shape under Trump post covid19. Joe made some stupid choices but he didn’t want to let a crisis go to waste and pushed his agenda over what was needed at the time to avoid this economy shake out.
Liberal theory: “You must not discipline the child. You must reason with the child.”
I see amazone is offering a $10 incentive for people to pick up their orders somewhere. Sounds vaguely familiar to me. Sounds like the old days of the local Sears catalog outlet in our small town. You order what you wanted there instead of mailing the order in and then picked it up there a few days later.
Sears blew it. They had no idea what was coming or how to act on it. Even when they had the perfect platform for online modification of their business. How did they not see it?
“no resurgence of Black entrepreneurs opening retail outlets to replace the retreating Walmart’s.”
Black entrepreneurs know that their stuff will be stolen by the natives as soon as their potential urban store is open—if they want to lose money they would do better by flushing it down the toilet.
Don’t disagree with all the merchandise in the store before you can get to Pharmacy-—
HOWEVER-—Keeping the DRUGS at the back of the store is also to keep smash & grab events from happening there.
Local SMALL pharmacy had a pile of rocks larger than watermelons in front of store to stop vehicles from smashing inside. ONLY RECENTLY put there-—with the rise in theft.
IF I shop in person & use cash——BIG BROTHER BIDEN cannot track what I am buying.
DR SPOCK ON STEROIDS
SPARE THE ROD-—SPOIL THE CHILD-——
PARTICIPATION TROPHIES
LACK OF EFFORT ON ALL SIDES
Completely agree.
And now we're seeing Target and others putting pretty much everything behind locked counters.
Crime, or rather the lack of punishment for crime, is driving a whole bunch of this.
In order to buy gas one must either put a credit card in which normally puts a large deposit on the card or pay a clerk in advance with cash or card.
Stores could use this model to stay in business Costco and Sams Club essentially do this by not admitting people without a membership card and checking receipts.
In inner cities they should require a deposit to enter the store. Would keep a lot of folks out, probably no loss over the long term.
“One of the reasons Walgreens is in trouble is their outrageous prices.”
i really don’t see how walgreens stays in business ... they grossly overbuilt stores in our little town, their prices are insanely ridiculous, and their pharmacy service is by far the worst of ALL the chains ... the last time i used a walgreens pharmacy, they charged me $12.50 for a single ten cent pill and told me that was the minimum charge for a prescription because of “overhead” ... i haven’t used a walgreens for pharmacy for decades because of that ... [since then, walgreens was forced to offer $4.00/month generic scripts because walmart was eating their lunch] ... my slogan for walgreens pharmacy was “If we can F*** it up, we will!” ...
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.