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THE RETAIL DEATH RATTLE

Discussion in 'Coffee Shack (Daily News/Economy)' started by searcher, Jan 20, 2014.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Sears to close more than 100 stores and lay off nearly 5,500 employees


    Retailer lost nearly $1bn during the first half of the fiscal year and has already closed 96 stores since February


    theguardian.com, Thursday 23 October 2014 15.33 EDT

    [​IMG]
    Customers walk out of a Sears store at the Meadows Mall in Las Vegas.Photograph: Laura Rauch/AP


    Sears Holdings Corp is shuttering more than 100 stores and laying off at least 5,457 employees, investor website Seeking Alpha reported on Thursday, indicating the struggling retailer may be stepping up store closures.

    Sears said in August it had closed 96 stores in the six months since February and planned to close a total of 130 under-performing stores during the full fiscal year. It added at the time that it may shutter additional stores beyond the 130 target.

    Sears spokesperson Chris Brathwaite declined to comment on the number of planned closures, saying the company would provide an update when it reports quarterly earnings next month. Reducing operations to the best performing stores is key to Sears’ revival strategy, he said.

    “While this has resulted in store closures where appropriate – decisions that we do not take lightly – we continue to have a substantial nationwide footprint with a presence in many of the top malls in the country,” Brathwaite said.

    Sears shares rose 5.9% to $36.46 on Nasdaq at mid-afternoon.

    Since August the company has moved to close at least 46 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers, Seeking Alpha said, citing local media reports and liquidation notices.

    Sears is closing stores to cut costs as it shifts to an “asset-light” business model. The company lost nearly $1bn during the first half of the fiscal year in a downturn that has worried some vendors and prompted a series of moves by the company to generate cash.

    On Monday Sears said it would raise as much as $625m through an unsecured loan and equity warrants, about half of which will be purchased byCEO Eddie Lampert and his hedge fund. It was the company’s third fundraising in a little over month.

    It also said on Monday that it would lease seven stores to discount fashion chain Primark for an undisclosed amount, reflecting its effort to use generate rental income from better performing retailers.

    Sears had 1,077 Kmart stores and 793 Sears stores in the United States as of 2 August. The company had 226,000 US employees as of 1 February.

    http://www.theguardian.com/business/2014/oct/23/sears-close-100-stores-lay-off-employees
     
  2. Malus

    Malus Gold Chaser Platinum Bling

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    Let it die. The majority of sh*t sold, people "don't" need. Lets see what kind of economy America has without retail......
     
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  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    I think it would be ashame to see Sears die. They were an American Icon for many moons. I remember looking through their catalogs as a kid. Used to sell everything under the sun (and it was quality.) Once in a while I'll look around on line and peruse some of their real old catalogs. Some interesting items in them.

    Now some (a lot) of their stuff is junk but they still have some good quality appliances, tools and lawn care equip.

    One thing I have noticed during my last 2 or 3 trips to my local Sears was the lack of customers. Place was almost dead.

    Edit: If anyone is interested in Sears history / old catalogs i think you might enjoy this site http://searsarchives.com/
     
    Last edited: Oct 26, 2014
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  4. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Sears started the boom using the catalog with the railroads making it possible. They continued on into the interstate truck and catalog model, and added retail stores. The catalogs started falling off as people purchased from the mall anchor Sears, rather than waiting for a catalog delivery. They have tried and tried to make the move to internet vendor - home delivery but people aren't interested while still purchasing online from other vendors. Perhaps the tie to real estate is the problem.
    J.C. Pennys almost the same story. Remember Montgomery Wards? They failed on the move to B&M. Most of the stores we shopped at back in the 1950's - 1960's are gone - I'm not talking about the Mom & Pops, I'm talking about the chains.
     
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  5. pitw

    pitw Gold Member Gold Chaser Site Supporter

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    Not many stores offered houses and chickens in the same book. Out here in the middle of nowhere they were the only option for many items and will be missed yet.
     
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  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Unfortunately what ever is going to happen is going to happen. Nothing much can really be done to stop it. A shame............none-the-less.
     
  7. hammerhead

    hammerhead Not just a screen name Gold Chaser

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    Sometimes things have to get worse before they get better. And the one thing in life that is permanent is change.

    If we are going to become a nation of producers, people need to get creative and start producing. Ya'all can cry in your milk that things aren't the same. They aren't. The world is much, much smaller now. Especially thanks to the venue that we are communicating on.

    Wasn't there a great depression? This country emerged from that and became a top producer. It can be done again, but not by people getting hand outs. Hell, I wish Ramney got elected. He promised us millions of jobs.

    When the going gets tough...

     
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  8. jiikoo

    jiikoo Seeker Seeker

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    They had to start ww2 to emerge from depression.
     
  9. hammerhead

    hammerhead Not just a screen name Gold Chaser

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    I don't thing it will need another WW. If we have one, I doubt there will be a winner.
     
  10. EO 11110

    EO 11110 He Hate Me Mother Lode

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  11. Ahillock

    Ahillock A nobody Mother Lode

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  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    While this is a possibility I hope to hell this doesn't happen. War is absolutely no good. Edwin tells it like it is..........

    [video=youtube_share;_d8C4AIFgUg]http://youtu.be/_d8C4AIFgUg[/video]

    http://youtu.be/_d8C4AIFgUg
     
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  13. arminius

    arminius Gold Member Gold Chaser Site Supporter ++

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    I believe that is because they had the economy set up so that it required a huge mobilization of rapidly depleting resources (munitions) and people assisting in that effort to emerge...

    Meanwhile they made out like the bandits they are, and we began to become comfortably numb...
     
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  14. negative1

    negative1 Silver Member Silver Miner

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    Sounds like the mall we have here. The only contrast is it is still in a decent area so a public bus system now pumps in the "non-shoppers" from the bad parts of town bringing with them violence, harassment, graffiti, and shootings. This will eventually will kill the mall.

    Whenever the bus vote comes up they run commercials of old or disabled whites using the bus. Funny thing is I've never seen a white old, disabled, or otherwise getting off the bus at the mall.


    :s1:
     
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  15. pitw

    pitw Gold Member Gold Chaser Site Supporter

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    Wish they'd shut their doors. They are a traffic hazard.
     
  16. dirt to oil

    dirt to oil Gold Chaser Platinum Bling

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    bad sandwiches and ok coffee if they are the best we can offer ..................
     
  17. Ahillock

    Ahillock A nobody Mother Lode

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  18. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]Retail Rapture: UK Grocery Sales Drop 1st Time In 20 Years, Dollar General To Shut 4000 Stores[/h]

    [​IMG]
    Submitted by Tyler Durden on 11/20/2014 08:04 -0500



    For the first time since it began collecting data in 1994, Kantar Worldpanel, the market researcher, reported a decline in UK grocery sales by value, as The FT reports the biggest UK grocers were "losing market share hand over fist," as analysts warn "there are phoney price wars, and there are real price wars. This is a real price war." This comes on the heels of Goldman report claiming 20% of British grocers are surplus to requirements. But it's not just Britain... in the the cleanest dirty shirt world-economic-growth supporting decoupled economy of the USA, Reuters reports Dollar General may need to divest more than 4,000 stores to win approval from the U.S. Federal Trade Commission for its acquisition of Family Dollar.

    As The FT reports, Britain’s supermarkets have suffered their first fall in sales in at least 20 years as lower food prices and a vicious price war cut the amount customers spend on groceries.


    For the first time since it began collecting data in 1994, Kantar Worldpanel, the market researcher, reported a decline in UK grocery sales by value.

    “There are phoney price wars, and there are real price wars. This is a real price war,” said Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel.

    ...

    Britain’s big chains have pledged to spend billions of pounds cutting prices in an effort to stem the growth of German discounters Aldi and Lidl.

    ...

    On Monday, research from Goldman Sachs said 20 per cent of UK supermarket space was surplus to requirements following the rise of discounters including Aldi and Lidl, the demise of the weekly shop and the increase in online grocery shopping.


    But it's not just Britain that faces retail pressure... (as Reuters reports)


    Dollar General may need to divest more than 4,000 stores to win approval from the U.S. Federal Trade Commission for its acquisition of Family Dollar Stores, the New York Post reported, citing two sources close to the situation.

    Dollar General has agreed to sell up to 1,500 stores as part of its $9.1 billion offer. It approached Family Dollar shareholders with its offer directly in September after twice being spurned by its smaller rival.

    The New York Post reported on Wednesday that Dollar General could be forced either to raise its bid again or to divest more than double the number of stores previously pledged.

    Synergies?


    * * *


    But apart from that...escape velocity here we come.


    http://www.zerohedge.com/news/2014-...t-time-20-years-dollar-general-shut-4000-stor
     
  19. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Again, my lying eyes deceive me. A recent visit to the nearest larger city and the retail section showed me a contrary picture.
    The mall, which was here when I got here in 1994, has customers. However, the sections staked out by the department store have little or no customers, JC Penny and Sears in this case. Sears auto repair is always busy, however. It is the store that has no customers.
    Strip malls that completely surround the mall are overflowing, hard to find a parking space, long lines at the registers, etc. So bad in fact that I find myself shopping at odd hours in order to have a more peaceful time. This is when the stores restock shelves, so it isn't ideal. Places like Kohls, Panera Bread, Krogers, Walmart, LowesDepot, Sam's Club, Bed, Bath and Beyond, Worst Buy, Michaels, and the chain fast food poison palaces all have a constant flow of shoppers and full parking lots.
    The stores I see failing in my local retail market are Staples, Sears, JC Penny, Radio Shack.
     
  20. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]The Retail Apocalypse Accelerates: Collapsing Holiday Sales Are A Signal That A Recession Is Coming[/h]

    By Michael Snyder, on December 1st, 2014

    [​IMG]



    Retail sales during the four day Thanksgiving weekend were down a whopping 11 percent from last year. This is a “make or break” time of the year for many retailers, and if things don’t turn around during the coming weeks we could see a tsunami of store closings in January and February. As you read this article, there is already more than a billion square feet of retail space sitting empty in the United States. Many have described the ongoing collapse of the retail industry as an “apocalypse”, and this apocalypse appears to be accelerating. Yes, the shift to online retailers is a significant factor, but as you will see below even online retailers struggled over the holiday weekend. The sad truth of the matter is that U.S. consumers are tapped out and are drowning in debt at this point, so they simply do not have as much money to spend as they once did.

    According to the National Retail Federation, 5.2 percent fewer Americans shopped online or at retail stores over the past weekend. Those that did shop spent an average of 6.4 percent less money than consumers did last year.

    So if less people shopped, and they spent less money on average, that means that total retail sales must have been way down.

    And indeed they were. As the New York Times has reported, total retail sales were down an astounding 11 percent…

    Sales, both in stores and online, from Thanksgiving through the weekend were estimated to have dropped 11 percent, to $50.9 billion, from $57.4 billion last year, according to preliminary survey results released Sunday by the National Retail Federation. Sales fell despite many stores’ opening earlier than ever on Thanksgiving Day.

    And though many retailers offered the same aggressive discounts online as they did in their stores, the web failed to attract more shoppers or spending over the four-day holiday weekend than it did last year, the group said. The average person who shopped over the weekend spent $159.55 at online retailers, down 10.2 percent from last year.


    No wonder there was less violence on Black Friday this year.

    Traffic at retailers was way down.

    Of course some analysts are trying to put a positive spin on all of this. For example, the CEO of the National Retail Federation says that this could actually be a sign that the economy is improving


    As the WSJ reports, NRF’s CEO Matt Shay attributed the drop to a combination of factors, including the fact that retailers moved promotions earlier this year in attempt to get people out sooner and avoid what happened last year when people didn’t finish their shopping because of bad weather.

    Also did we mention the NRF is perpetually cheery and always desperate to put a metric ton of lipstick on a pig? Well, hold on to your hats folks:

    He also attributed the declines to better online offerings and an improving economy where “people don’t feel the same psychological need to rush out and get the great deal that weekend, particularly if they expected to be more deals,” he said.

    And of course the sprint vs marathon comparisons, such as this one: “The holiday season and the weekend are a marathon not a sprint,” NRF Chief Executive Officer Matthew Shay said on a conference call. Odd how that metaphor is never used when the (seasonally-adjusted) sprint beats the marathoners.

    So there you have it: a 11% collapse in retail spending has just been spun as super bullish for the US economy, whereby US consumers aren’t spending because the economy is simply too strong, and the only reason they don’t spend is because they will spend much more later. Or something.



    The retail industry is absolutely brutal at this point. It is flooded with very large competitors that are chasing fewer and fewer disposable dollars.

    In order to thrive, retailers need financially healthy consumers. But over time, U.S. consumers have been getting deeper and deeper into debt. The chart posted below shows that consumer credit in the United States has doubled since the year 2000…


    [​IMG]


    Meanwhile, the long-term trend for real median household income since the year 2000 has been down…



    [​IMG]


    In order for Americans to spend money, they have to make money first.

    Unfortunately, the quality of our jobs continues to plummet.

    As I have written about previously, 50 percent of all American workers currently make less than $28,031 a year at their jobs. And here are some more numbers from a report that the Social Security Administration recently released…

    -39 percent of American workers made less than $20,000 last year

    -52 percent of American workers made less than $30,000 last year

    -63 percent of American workers made less than $40,000 last year

    -72 percent of American workers made less than $50,000 last year

    So in order for a typical American family to bring in $50,000 a year or more both parents usually have to work.

    Sometimes they both have to work more than one job.

    And with the cost of living constantly rising, family budgets are being squeezed more than ever. That is why families have less money to spend at retail stores these days. For even more on the current financial condition of American families, please see my previous article entitled “Are You Better Off This Thanksgiving Than You Were Last Thanksgiving?

    It is time for retailers in America to face the fact that economic conditions have fundamentally changed. U.S. consumers simply are not in as good shape as they used to be.

    In addition, online retailers are going to continue to steal sales from traditional retail locations. This means that more stores are going to close and more retail space is going to be abandoned.

    As I mentioned above, more than a billion square feet of retail space is aleady sitting vacant in the United States. And retail consultant Howard Davidowitz is projecting that up to half of all shopping malls in the U.S. may shut down within the next couple of decades


    Within 15 to 20 years, retail consultant Howard Davidowitz expects as many as half of America’s shopping malls to fail. He predicts that only upscale shopping centers with anchors like Saks Fifth Avenue and Neiman Marcus will survive.



    In the years ahead, it is going to become normal to see boarded up strip malls and abandoned shopping centers all over the country.

    The golden age of retail is over, and now most retailers will have to work incredibly hard to survive the apocalypse that is unfolding right before our eyes.


    http://theeconomiccollapseblog.com/...lapsing-holiday-sales-signal-recession-coming
     
  21. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]A modern-day mall-soleum: Inside the sprawling Maryland shopping center which has just two stores left after thirty years of declining business[/h]
    • White Flint Mall in Bethesda, Maryland opened its doors in March 1977
    • Over the years dwindling business has forced a run of closures
    • The mall's owners, Lerner Enterprises and the Tower Cos., plan to eventually transform the complex into a mix of residential and commercial space
    • The final closing date has not yet been announced


    Read more: http://www.dailymail.co.uk/news/art...y-years-declining-business.html#ixzz3KlSg6XWn
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
  22. Ahillock

    Ahillock A nobody Mother Lode

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    Sears to accelerate closings, shutter 235 stores
    Krystina Gustafson | @KrystinaGustafs

    Sears shares fell Thursday, after the struggling department store announced an adjusted net loss of $296 million—in line with the updated guidance it gave in November.

    The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores.

    Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales. Still, they said the haircut won't be enough on its own to turn the tide at Sears, adding that it needs to close even more stores—and figure out how to become profitable.

    "This is the primary problem remaining at Sears, as management needs to find a way to stop the over $1 billion of negative cash flow that is undermining the positive repositioning moves," Credit Suisse analyst Gary Balter said.

    Although the store closings will no doubt help Sears trim its losses—CEO Eddie Lampert said they produced a loss of about $50 million in 2013—Moody's analyst Scott Tuhy said those savings will only go so far for a company that's posting an adjusted loss closer to $300 million. Its net loss was substantially greater for the third quarter, at $548 million.

    Belus Capital Advisors analyst Brian Sozzi said the retailer likely needs to close another 200-plus locations in 2015. As of Nov. 1, Sears had 1,050 Kmart locations in the U.S., and 781 domestic Sears stores. In its conference call, the retailer said that it owns about 700 of these locations.

    Analysts have called out Sears' strong real estate portfolio as its greatest opportunity. Not only does it have the ability to sell off a number of these locations, but because it's held many of its leases for so many years, it has the flexibility to close many of its stores at a low cost, Tuhy said.

    Last month, Sears said it is considering converting hundreds of its stores into a real estate investment trust (REIT) to boost its finances. If it were to go through with the plan, the retailer would own between 400 and 500 stores, and lease between 1,300 and 1,400 locations. It would continue to operate in the locations sold to the REIT, CFO Rob Schriesheim said.

    In October, Sears announced it would lease out space at seven of its locations to European retailer Primark, saying it will retain a "significant presence" at six of these locations. It has also leased out space to retailers such as Forever 21 and Whole Foods.

    "They are really becoming more focused on the real estate," Tuhy said.

    Tuhy said Sears made some "positive steps" during the quarter, adding that after six quarters of its adjusted loss coming in negative compared with the prior year, it was essentially flat in the third quarter.

    Still, he emphasized that "one quarter does not a trend make."

    Sozzi sounded a more sour note on Sears, saying "the soul of this report is really bad." Although the company said it expects its improving year-over-year adjusted earnings trend to continue in the fourth quarter, Sozzi said it was concerning that the retailer didn't offer up any sales figures for the holidays so far.

    On Tuesday, the company issued a brief statement on its Cyber Week shopping trends, saying mobile is experiencing "tremendous growth," and home appliances, tools, outerwear and consumer electronics are drumming up the most interest.

    According to Retail Metrics, Sears hasn't posted a quarterly profit since fourth quarter 2012.

    http://www.cnbc.com/id/102237069
     
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  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  25. Ahillock

    Ahillock A nobody Mother Lode

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    I have a feeling this thread will be updated quite a bit over the next several weeks/months.
     
  26. Malus

    Malus Gold Chaser Platinum Bling

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    Naw, its just a cycle. It'll turn around and everything will be rosy. A nation built on the premise of consumption is destined to die as it eats itself. Pretty easy to understand if you ask me. Since most of the jobs went east and south, how long can a country survive when it only consumes and doesn't produce. Not long. The closures of malls and such will continue unabated for years to come as America slips back into the dark ages. Its interesting when you read these stories of countries that tank out and slip into chaos/martial law, where brutality towards the people becomes the norm. I think what we're experiencing is the next/latest inclusion into the history books, where our great grandchildren will read about the formally great and powerful nation that is America.........
     
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  27. Ahillock

    Ahillock A nobody Mother Lode

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    2014 holiday sales were way down. That will show up in Q1 data. Will see retailers close down locations.
     
  28. Malus

    Malus Gold Chaser Platinum Bling

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    Sad but true. A slow continuous slide down. With no jobs all our young will have is to join the war overseas and fight for corporate America and the MIC. The policing of America with its swathes of cheap immigrant labour will be another avenue of future employment for our kids. Join the team or live under the boot heel of it. Its sad that the masses are so consumed by entitlement to not notice the problem, nor see the coming storm.......



    debt.jpg
     
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  29. Ahillock

    Ahillock A nobody Mother Lode

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    "We Are Extremely Over-Retailed" Picturing The Death Of America's Malls
    Submitted by Tyler Durden on 01/05/2015 19:00 -0500

    Starting in the mid-1990s, "the mall genie was out of the bottle," says one mall analyst, "and it was never going to come back." While about 80% of the country’s 1,200 malls are considered healthy (vacancy rates of 10% or less), that compares with 94% in 2006; and more than 30 million square feet of malls are more than 40% empty, a threshold that signals the beginning of what one one analyst called "the death spiral."

    As The NY Times reports, like beached whales, dead malls draw fascination as well as dismay, "nobody ever thinks a mall is going to up and die," but as the following images show - dead or dying they are.

    [​IMG]

    “It’s depressing,” Jill Kalata, 46, said as she tried on a few of the last sneakers for sale at the Athlete’s Foot, scheduled to close in a few weeks. “This place used to be packed. And Christmas, the lines were out the door. Now I’m surprised anything is still open.”

    [​IMG]

    “I have no doubt some malls will survive, but major segments of our society have gotten sick of them,” said Mark Hinshaw, a Seattle architect, urban planner and author.



    [​IMG]

    It is very much a haves and have-nots situation,” said D. J. Busch, a senior analyst at Green Street. Affluent Americans “will keep going to Short Hills Mall in New Jersey or other properties aimed at the top 5 or 10 percent of consumers. But there’s been very little income growth in the belly of the economy.”

    [​IMG]

    We are extremely over-retailed,” said Christopher Zahas, a real estate economist and urban planner in Portland, Ore. “Filling a million square feet is a tall order.”

    [​IMG]

    “Everybody has memories from childhood of going to the mall,” said Jack Thomas, 26, one of three partners who run the site in their spare time. “Nobody ever thinks a mall is going to up and die.”

    [​IMG]

    Nearly 15 percent are 10 to 40 percent vacant, up from 5 percent in 2006. And 3.4 percent — representing more than 30 million square feet — are more than 40 percent empty, a threshold that signals the beginning of what Mr. Busch of Green Street calls “the death spiral.”

    Industry executives freely admit that the mall business has undergone a profound bifurcation since the recession.

    “Our business is more regional and high-end focused,” he said. “There are gradients of dead or dying or flat, but anything that’s caught in the middle of the market is problematic."

    [​IMG]

    “The mall genie was out of the bottle,” Mr. Simmons said, “and it was never going to come back.”

    Read more here...



    http://www.zerohedge.com/news/2015-...-over-retailed-picturing-death-americas-malls
     
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  30. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]RETAIL EARTHQUAKE: All these big-name stores closing[/h]
    [h=2]Macy's, JCPenney, others laying off hundreds of thousands of employees[/h]Published: 12 hours ago


    1.jpg




    WASHINGTON – Christmas is over. Now get out.

    That was the word this week as two of the nation’s giant retailers announced to employees and shoppers the closings of dozens of stores.

    Macy’s is closing 14 of its 790 stores across the country.

    JCPenney is closing 39 of its stores and laying off 2,250 workers.

    And that’s just the beginning of the retail earthquake hitting America, say analysts.

    “I believe that we are on the verge of a number of business failures of specialty retailers as well as some national general retailers which in turn will have a domino effect on those dealing with the retail industry,” says bankruptcy expert Chuck Tatelbaum. “Because of the changes in buying habits of U.S. consumers, as a result of the continuing hesitancy to spend, the 2014 holiday season was not sufficiently successful for many retailers that have either over expanded, fell out of favor or had insufficient capital and merchandise.”

    The last few years have not been kind to major store chains. Many once revered brands have been closing stores. Apparently some were only staying open through the Christmas season, which will prove to be their last.

    “Our business is rapidly evolving in response to changes in the way customers are shopping across stores, desktops, tablets and smartphones,” explained Terry Lundren, Macy’s chief executive officer. “We must continue to invest in our business to focus on where the customer is headed – to prepare for what’s next.”

    Sears has been around for 122 years, but it, too, is closing 235 under-performing stores. Sears and Kmart lost $296 million in 2014.
    Sears Holdings, which has more than 1,830 Sears and Kmart stores, said in its earnings announcement that the company “expects to migrate the shopping activity of highly engaged members who previously shopped closed stores to alternative channels.”

    During 2014, Sears Holdings closed about 200 of the Sears and Kmart stores.

    Even chic newer retailers are closing their doors. C. Wonder, the preppy retailer, is going out of business, closing all 11 of its U.S. stores in the next few weeks.

    Wet Seal is closing 338 retail stores while dealing with bankruptcy proceedings. Nearly 3,700 full- and part-time workers will be unemployed.

    “This was a very difficult decision to make, but after reviewing many other options since I returned to the company in September, our financial condition leaves us no other alternative than to close these stores,” Wet Seal chief executive Ed Thomas said in a statement.

    But Wet Seal employees didn’t take the news well. Employees at several stores posted large signs in the store windows. One said: “Our Mission Statement: We lie to our employees to hide the fact that yes, we’re closing and gave no notice.”

    For many workers, like those at Wet Seal, there is no severance pay and no compensation for accrued vacation time.

    Aeropostale, suffering from declining sales, closed 75 stores during the holiday season, which runs from November through January. And in 2015, they expect to close an additional 50 to 75 stores.

    RadioShack, which is negotiating with lenders to gain approval to shutter 1,100 stores, said last month that it closed 175 locations in 2014.

    Online shopping is most often cited as the major problem for brick-and-mortar retail stores. Online sales now account for about 13 percent of all retail sales.

    The Associated Press reported the JCPenney stores closing are in:

    GEORGIA: Gwinnett Place Mall in Duluth, LaGrange Mall in LaGrange, Walnut Square Mall in Dalton

    IOWA: Crossroads Shopping Center in Waterloo, Southbridge Mall in Mason City, Westland Mall in West Burlington

    ILLINOIS: Northland Plaza in DeKalb, Quincy Mall in Quincy

    INDIANA: Marquette Mall in Michigan City

    MASSACHUSETTS: Hanover Mall in Hanover, Silver City Galleria in Taunton

    MICHIGAN: Adrian South Mall in Adrian

    NEW JERSEY: Cumberland Mall in Vineland

    NEW YORK: Hudson Valley Mall in Kingston

    NORTH CAROLINA: Parkwood Mall in Wilson, Randolph Mall in Asheboro, Signal Hill Mall in Statesville, Southgate Mall in Elizabeth City

    OHIO: Eastland Mall in Columbus, North Towne Plaza in Greenville, Upper Valley Mall in Springfield

    OREGON: Pony Village Mall in North Bend

    PENNSYLVANIA: Chambersburg Mall in Chambersburg, Granite Run Mall in Media, Nittany Mall in State College, Susquehanna Valley Mall in Hummels Wharf, York Galleria in York

    RHODE ISLAND: Providence Place Mall in Providence

    SOUTH CAROLINA: Aiken Mall in Aiken, Inlet Square Mall in Murrells Inlet

    SOUTH DAKOTA: Lakewood Mall in Aberdeen

    TEXAS: Market Square Mall in Brenham

    VIRGINIA: Manassas Mall in Manassas, the Marquis in Williamsburg

    VERMONT: Diamond Run Mall in Rutland, St. Albans Shopping Center in St. Albans

    WISCONSIN: Aviation Plaza in Oshkosh, Regency Mall in Racine, Shawano Plaza in Shawano


    Read more at http://www.wnd.com/2015/01/retail-earthquake-all-these-big-name-stores-closing/#5GOiivPoIgDQAu1W.99
     
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  31. Malus

    Malus Gold Chaser Platinum Bling

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    We are witnessing history in the making. The decline of the Roman Empire......
     
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  32. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=3]DECEMBER RETAIL SALES – UNEQUIVOCAL DISASTER[/h]
    Posted on 14th January 2015 by Administrator


    In case you hadn’t noticed, the MSM storyline was obliterated this morning with the December retail sales report. There is absolutely no way for the shysters and charlatans in the media, Wall Street or government to spin this data in a positive manner. The shit is hitting the fan. A recession for the average American is confirmed. Plunging gas prices haven’t done shit to motivate people to spend money they don’t have.



    [​IMG]


    And guess what you won’t hear from CNBC or any of the corporate media?

    [h=2]POLAR VORTEX[/h]
    You see, that was the storyline last year to explain the terrible December and January retail sales. So let me get this straight. Last December the country was buried under snow in sub-zero temperatures versus a tranquil, calm, non-snowy December this year. Not a peep from The MSM about last December’s Polar vortex

    Shouldn’t this great weather, “fabulous” plunge in the unemployment rate, and billions of dollars put back into pockets by collapsing gas prices, have spurred an awesome retail sales surge this year? The Wall Street shysters drove the stock market to record highs in December based on this false storyline. The decline in real wages in November revealed the falsehood of the jobs recovery. Any savings from lower gas prices is being used to pay down credit card debt and pay for the dramatically higher healthcare costs caused by Obamacare.

    This economy is in the tank and headed lower. The GDP numbers are a sham. The employment numbers are a sham. You know it. I know it. And now the sheep are waking up and realize they have been lied to. Stock market records are meaningless to people trying to get by on a daily basis.


    [​IMG]


    After perusing the data on the Census Bureau website, here are my observations:


    • Year over year retail sales only rose 3.2% in December. That is before inflation, which the BLS says was 1.7% and I say is above 4%. Either way, real sales sucked. Then take into consideration there were 3 million less employed people and a polar vortex last December.



    • The MSM said consumers had a windfall from the $6.5 billion decrease in gasoline sales. We were all supposed to buy a new HDTV or iGadget with our newly found riches. Oops. Electronics and appliance sales FELL in December versus November.


    • Retail sales simply don’t fall in December versus November unless you are in recession or headed into recession.


    • It seems even the subprime auto loan scheme is petering out. Auto sales (7 year rentals) declined in December. Maybe the fact that auto loan debt delinquencies are approaching 2008 levels is giving them pause in selling autos to people without the means or inclination to make the payments.


    • Anyone looking for a JC Penney, Sears, Macy’s led department store revival is sad. Clothing store sales dropped. Department store sales dropped. Sporting goods store sales dropped.


    • And drum roll please. On-line store sales DROPPED. The Amazon revolution is dead.


    It seems the markets don’t like it. The pain has just begun. A global recession is underway. It’s a deflationary unwinding of debt and mal-investment. There is no cure except for collapse. Central bankers have shot their load. Their credibility is shot. No one believes more debt will cure a debt problem – except for a few Ivy League educated economists. A shitstorm is a brewing. Get ready.


    [​IMG]

    Loading…
    http://www.theburningplatform.com/2015/01/14/december-retail-sales-unequivocal-disaster/
     
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  33. southfork

    southfork Mother Lode Found Mother Lode

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    Spin they did though today on the bad retail sales numbers, they actually had the gall to say they probably made a mistake and forgot to include some sectors, they fkin bastards have no shame in trying to keep this monopoly game going.
     
  34. southfork

    southfork Mother Lode Found Mother Lode

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    So hows this recovery thing going?
     
  35. Ahillock

    Ahillock A nobody Mother Lode

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    Not so well.
     
  36. Malus

    Malus Gold Chaser Platinum Bling

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    Depends on who you're listening to....
     
  37. earplugs

    earplugs Gold Chaser Platinum Bling

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    Just wait for them to say we are in full fledge depression, dow goes up 200+. :cry1:
     
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  38. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    "Deflation is pernicious and dangerous for an economy" = CBS morning news today.
     
  39. Professur

    Professur Midas Member Midas Member Site Supporter ++

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  40. pitw

    pitw Gold Member Gold Chaser Site Supporter

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    Had to laugh when I saw that this morning. Them silly buggers spent millions if not more on stores that already had figured out they couldn't make it up here. Like they thought they were to big to fail.LOL
     
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