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 ...
Enabling criminals just because they are black helps the black community in the same way that enabling your drug-addicted child helps that child.
If you enable your drug-addicted child, what you get is a dead child.
Who benefits? Amazonk and UPS. This also keeps Postal Workers busy/ I just bought some insoles from Amazonk after perusing 10 different types. Where else could I find such a selection? Ebay is also very good. I prefer eBay mostly. More bargains there.
For a computer phobic friend.... I just ordered one of a kind exotic shoes from an independent website. No wonder retail is collapsing.
Last month I even ordered a lawnmower from Walmart on line. Federal Express / FedEx delivered this heavy box. 55 lbs iirc. But perhaps more. I will check.
Got a much better deal than the mowers at HD and Lowes. Mowers are so overpriced there. Screw ‘em.
Retail collapse has more to do with the perfect voters and their free stuff now attitude.
That list of “the” real reason reminds me of Steve Martin as the Jerk:
“I don’t need this or this. Just this ashtray.
And this paddle game, the ashtray and the paddle game and that’s all I need. And this remote control. The ashtray, the paddle game and the remote control, and that’s all I need. And these matches. The ashtray, and these matches, and the remote control and the paddle ball. And this lamp. And that’s all I need too. I don’t need one other thing, not one - I need this! The paddle game, and the chair, and the remote control, and the matches, for sure. “
The analysis is correct, just the wording is a bit silly.
If you can get $1,900 per shirt, you don’t need to see many shirts!
One of the reasons Walgreens is in trouble is their outrageous prices.
Retail theft is at an all-time high
Except for maybe the future
The thieves are relentless
I think Liberals believe they are being kind to certain minorities and that this theft is part of Obama's redistribution of wealth.
That said, the Marxists who are manipulating these Liberals know full-well that the goal is not redistribution, but the destruction of our free market system.
Now not all retail is dead. In my town is a privately owned hardware store. It's not pretty. The aisles are narrow, the shelves are crammed, some parts of the store look like your uncle's messy garage with pegboards carrying sundry items on numerous hooks. But they have what you need 95% of the time without having to wade through miles of aisles at Home Depot or Lowes dodging uninterested workers in those silly aprons. Plus, the local hardware store in my town lets you take your dog inside and the owner has his golden retriever named Sally napping by the checkout counter.
I can’t remember the last time I went to a mall. Why should we pay their rent for them by buying something that’s 80% overpriced compared to the same thing at an outlet?
That’s what happens when you decriminalize crime.
Why go out to get your cheap Chinese crap when you can have it delivered by a 3rd worlder UPS dude on a green card.
I go there for two reasons....1) it’s a *great* place to walk in bad weather and 2) it has a great supermarket.
Typically, only the worst elements of society and of course, 12 year old girls, LOVE the mall.
For ladies: Woman Within has reasonable prices and good quality clothing esp. slacks. Prices at Romans have just been cut across the entire catalogue to an affordable level.
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