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THE RETAIL DEATH RATTLE

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



  1. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    As to Target, I have to wonder what particular kind of moron is in the top positions in that corporation. Not very bright it seems.
     
  2. Professur

    Professur Midas Member Midas Member Site Supporter ++

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    And now Sony is closing all it's canadian retail stores ..... the rats aren't staying with the ship cap't
     
  3. Ahillock

    Ahillock A nobody Mother Lode

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    [video=youtube_share;HBD5ETwlRjM]http://youtu.be/HBD5ETwlRjM[/video]
     
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  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  5. Ahillock

    Ahillock A nobody Mother Lode

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  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Was a bit of a shocker to me too.
     
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  7. Ahillock

    Ahillock A nobody Mother Lode

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  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    *Back in the day Radio Shack had it all if you were into shortwave, ham, do-it-yourself electronics. Kinda sad to see it go.

    Radio Shack Files for Bankruptcy - Nerd Heaven of the 90s Closing Stores

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

    http://youtu.be/pWwWoBvqXRw

    Published on Feb 5, 2015
     
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  10. Ahillock

    Ahillock A nobody Mother Lode

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  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Retail Sales Plunge Twice As Much As Expected. Worst Back-To-Back Drop Since Oct 2009



    [​IMG]
    Submitted by Tyler Durden on 02/12/2015 08:38 -0500


    [​IMG]
    Following last month's narrative-crushing drop in retail sales, despite all that low interest rate low gas price stimulus, January was more of the same as hopeful expectations for a modest rebound were denied. Falling 0.8% (against a 0.9% drop in Dec), missing expectations of -0.4%, this is the worst back-to-back drop in retail sales since Oct 2009. Retail sales declined in 6 of the 13 categories.

    Clearly it has been a very cold winter, with both December and now January big disappointments.



    [​IMG]
    Retail sales disappoint, again

    [​IMG]

    In worse back-to-back drop since oct 09...

    [​IMG]


    The retal sales control group continues to crawl sequentially, while the relatively strong Y/Y data is still due to the base effect of December/January 2014 being slammed by the "Polar Vortex." If February spending does not pick up significantly, we will see a 2% handle.


    [​IMG]


    The breakdown of sales by category shows that 6 of the 13 major categories posted a decline, but what was most surprising was the 1% drop in auto dealer retail sales, which slid 1% despite the low, low gas prices. Did subprime auto loans just run out?


    Retail%20Sales%20Table.jpg



    * * *


    Finally, none of the above should come to a surprise to those who read our article from Tuesday, previewing not only today's miss but explaining its reason as well:

    Why Bank Of America Is Stumped: Despite "Lower Gas Prices" US Consumer Spending Has Plunged


    One just has to laugh while reading the following hilarious attempt to justify the cognitive dissonance by Bank of America's analysts - and
    everyone else for that matter - who were oh so certain that tumbling (if not any more) gas prices would translate into a "splurge" of spending on non-gas related goods and instead, when looking at their internal data, are seeing something inexplicable.

    To be sure, it wasn't just BofA data that has shown a plunge in discretionary spending: the December retail sales report last month courtesy of the government showed precisely the same, even if BofA's analysts - and everyone else - rushed to describe as a "one-off" aberration which would quickly be revised higher.

    Well, it won't be. Because while the BLS may seasonally adjusted and revise employment data to make the economy seem far stronger than it really is, when it comes to spending, every dollar leaving one pocket ends up in another pocket, and can thus be traced.

    This is how Bank of America explains its total confusion why the US consumer so desperately refuses to follow the "recovery" script.






    Getting impatient

    All signs point to a robust consumer: job growth has accelerated, with an average of 336,000 jobs created a month over the prior three months, gasoline prices have plunged and interest rates have declined.

    Consumers are taking notice with sentiment measures climbing higher. According to the University of Michigan survey, consumers have not been this upbeat since January 2004, when the economy was booming. The natural outcome should be for consumers to splurge, hitting the malls and going out to restaurants. But much to our surprise, the data suggest otherwise.

    The BAC internal data show little improvement in expenditures in January, even after netting out gasoline and autos. Sales ex-gasoline and autos, on BAC credit and debit cards, was unchanged mom SA and have slowed over the past few months (Chart of the Month). And it is not unique to our data – the Census Bureau painted a weaker picture with the December report (however, as we argue in this note, we think the risk is that core control sales are revised higher on Thursday).

    How can we explain this disconnect? It seems that consumers are saving some of the windfall cash from lower gasoline prices, with the personal savings rate increasing to 4.9% in December. Another factor is that our data may be skewed by consumers with credit card who are not as budget constrained as those who spend predominately with cash. Looking at a breakdown of spending by key sectors, we find a pick-up in sales at home improvement stores, restaurants and grocery stores, but a slowdown in lodging and furniture sales.



    [​IMG]

    And not just Bank of America. Moments ago Wells Fargo admitted the same:



    • WELLS FARGO & CO CFO: CONSUMER SAVINGS ON LOWER GASOLINE PRICES NOT TRANSLATING INTO A PROPORTIONAL INCREASE IN SPENDING


    And do you know why? Because, as we explained many months ago, not only is there not going to be an increase in discretionary spending, but all the "excess" money will be spent on - you guessed it - undiscretionary Obamcare, i.e., the government's latest tax for the middle class:


    [​IMG]


    The same Obamcare which already led to a surge in GDP in both Q3 and Q4. And sadly for the propaganda-mongers, not even the BEA can triple-count seasonally-adjusted or actual data. That... and $1.1 trillion in student debt certainly doesn't help either.

    In other words, expect yet another conspiracy theory to become unconspiracy fact in 5... 4... 3...


    http://www.zerohedge.com/news/2015-...e-much-expected-worst-back-back-drop-oct-2009
     
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  12. Ahillock

    Ahillock A nobody Mother Lode

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    This Is Why Hewlett-Packard Is Firing 58,000
    Submitted by Tyler Durden on 02/24/2015 18:58 -0500

    The biggest scandal in today's release of Hewlett Packard Q1 earnings was not that, just as the Nasdaq is knocking on 5000's door, it reported revenues of $26.8 billion missing consensus expectations of $27.3 billion, while beating non-GAAP EPS by 1 cent to $0.92 (up from $0.90 a year ago) entirely due to a massive reduction in outstanding stock and some truly gargantuan non-GAAP addbacks (GAAP EPS declined from $0.74 a year ago to $0.73) pushing the stock down 7% after hours.

    The biggest scandal was the company announced that having cut 44,000 workers so far, it will cut 58,000 jobs by the end of 2015. From Bloomberg:

    • HP SAYS HAS CUT 44,000 JOBS TO DATE
    • HP SAYS EXPECTS TO CUT 58,000 JOBS BY END OF FISCAL 2015



    Incidentally, just 10 years ago Hewlett Packard employed a total of 58,000 people in the entire US.

    So why is the company axing 58 thousand workers? Simple: so it can cut enough costs on top and continue to fund its now exponential surge in stock buybacks, which in the just concluded quarter was a record $1.6 billion, an increase of 178% from a year ago, and 66% more than the company spent on CapEx, in the process making its shareholders even richer while its management team get massive equity-linked bonuses.

    [​IMG]

    Rinse. Repeat.

    http://www.zerohedge.com/news/2015-02-24/why-hewlett-packard-firing-58000
     
  13. Ahillock

    Ahillock A nobody Mother Lode

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    Target to cut jobs as part of $2B cost-savings plan
    Fred Imbert | Courtney Reagan
    9 Hours Ago

    Target's chief executive, Brian Cornell, said Tuesday the retailer will cut several thousand jobs within the next two years as part of a $2 billion cost-savings plan.

    The Minneapolis-based company also announced 2015 guidance of $4.45 to $4.65 adjusted earnings per share. Wall Street expected Target's guidance at $4.50 adjusted earnings per share.

    Target also expects digital sales to increase 40 percent and same-store sales between 1.5 and 2.5 percent, with modest improvement in gross margins and expense rates. It projects overall 2015 sales to grow between 2 and 3 percent.

    The company's stock closed at $78, or up 0.41 percent.

    For 2016, Target expects earnings per share to increase 10 percent and a 5 to 10 percent dividend growth rate.

    Last week, the retailer reported earnings of $1.50 per share on revenue of $21.75 billion, beating Wall Street's expectations of $1.46 per share on $21.63 billion in revenue. The company's total U.S. sales also grew by 1.9 percent in 2014.

    Target also increased its 2015 first-quarter guidance to 95 cents to $1.05 adjusted earnings per share, up from 92 cents per share the same time last year.

    "We're seeing early momentum in our efforts to transform Target, and our team is entering the new fiscal year with a singular focus on continuing to differentiate our merchandise assortment and shopping experience while controlling costs by reducing complexity and simplifying the way we work," Cornell said in the company's latest earnings report.

    Target has also reportedly zeroed in on seven grocery categories, including yogurt and beer, to attract younger shoppers. In other words, it will be less reliant on products from General Mills, Kraft Foods and Campbell Soup, Reuters said in a report last week that cited The Wall Street Journal.

    http://www.cnbc.com/id/102473872
     
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  14. Ahillock

    Ahillock A nobody Mother Lode

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    Walgreens to close 200 stores, boost cost cutting
    Kaja Whitehouse, USA TODAY
    4:30 p.m. EDT April 9, 2015

    Walgreens (WBA) plans to close about 200 U.S. stores as the nation's largest drugstore chain expands on a $1 billion cost-reduction plan it announced last August. The Deerfield, Illinois, company said Thursday that it also will reorganize. Newslook

    Drugstore chain Walgreens Boots Alliance (WBA) announced plans to close about 200 U.S. stores as part of its first earnings report since it merged with European drug retailer Alliance Boots last year.

    Walgreens, the largest U.S. drugstore chain, said it will close the stores amid plans to boost its previously announced cost-cutting initiative by $500 million.

    Walgreens expects to reduce costs by a projected $1.5 billion by the end of fiscal 2017, the company said.

    "After a rigorous analysis, the company has identified additional opportunities for cost savings, primarily in its Retail Pharmacy USA division," the company said Thursday. "Significant areas of focus include plans to close approximately 200 USA stores; reorganize corporate and field operations; drive operating efficiencies; and streamline information technology and other functions."

    Walgreens' spokesman Philip Caruso said the company has not yet decided which stores it will close, but it is "not focusing on any specific geographic area." Caruso also said there is "no hard timeline" for when the stores will be closed during the period for cost cutting.

    The soon-to-be closed stores make up roughly 2% of the Walgreens' 8,232 drugstores in the United States, Puerto Rico and the U.S. Virgin Islands. Walgreens also said it opened 71 new drugstores in this region in the first half of fiscal 2015, including 25 relocations.

    Store closings aside, Walgreens wowed shareholders with strong earnings. Shares jumped $4.94, or 5.6%, to $92.62.

    Walgreens said adjusted second-quarter net earnings increased 33.2% to $1.2 billion. Second-quarter sales, meanwhile, increased 35.5% to $26.6 billion.

    The U.S. retail pharmacy division, which includes Walgreens and Duane Reade stores, posted sales in the second quarter of $21 billion, up 7.4% over the year-ago quarter. Total sales in stores open at least a year were up 6.9% over the same quarter a year ago.

    In December, Walgreens closed on a deal, valued at close to $16 billion, to purchase the remaining stake of European health and beauty retailer Alliance Boots that it didn't already own. The new company, which includes more than 12,800 stores in 11 countries, was renamed Walgreens Boots Alliance Inc., and it took on ticker symbol WBA.

    http://www.usatoday.com/story/money...lgreens-closing-200-stores-earnings/25512125/
     
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  15. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Why This Retail Earnings Season Is Different



    [​IMG]
    Submitted by Tyler Durden on 04/12/2015 14:15 -0400



    Submitted by Mark St.Cyr,

    This earnings season one sector will be more front and center than most. And that sector is: retail.

    It should not only presumed but rather, expected, they’ll be the typical GAAP vs Non-GAAP shenanigans along with the now bemoaned “buybacks” to make a dismal report read like the fictional tale of an earnings juggernaut.

    We’ve now come to expect this, and we know how it’s going to be spun across the financial media. So much so many of us over the last few years have paid little attention to the granular that makes up these reports.

    It doesn’t take more than a cursory listen when you begin hearing “They missed on both the top and bottom line. Yet: with buybacks, one time non-recurring, or _________(fill in your favorite here.) They now beat by a penny!” to understand it had nothing to do with anything else – but financial engineering.

    That being said, I believe paying close attention to this retail earnings reports; especially those of the “big box store” variety, will give far more insight into where we are going from here than probably any earnings season prior of the last few years. Why?

    Well if my observations over the last few weeks are correct. What I’ve both noticed as well as couldn’t help but notice is this: It’s getting near impossible for these retailers to hide the fact they’ve cut more staff and other essentials – then they’ve cut prices. Let me explain.

    Currently my residence is smack dab in the heartland of the U.S. near Columbus Ohio. Columbus boasts all that one would acquaint with a metropolitan area. There’s upscale dining, retail, etc., etc.

    However, it also now boasts one of the country’s top retail shopping areas. e.g., You can pick up your latest bangle or doo-dad at Tiffany’s™, then walk over to Louis Vuitton™ for the perfect bag to carry it home in, after dining at Smith and Wollensky™, then top it all off with ordering a new Tesla™. All within walking distance of each other. And this cornucopia of high-end retailing has just expanded within the last year to near double its size with stores like Saks™ and others.

    But this is where any similarities to what one first conjures up when thinking about “retail shopping” ends. The “middle” or the “big box” retailer is far, far, and away from seeing the activity still being witnessed in the high-end spectrum. And being able to see the dichotomies between the two up close and personal has been not only eye-opening – but jaw dropping too say the least.


    Within a few miles drive is the local “upscale” mall complex. It has all the expected big box names as anchors such as “Macy’s™, Sears™, JC Penney™ along with its own share of high-end stand alone retailers around the periphery. i.e., Ann Taylor™, Pier One™, etc. etc.

    What I noticed since this past holiday season just a little more than 3 months ago is this: Not only are the stores within the mall empty as in void of customers. Some stores have closed and moved out entirely. And I’m not talking about “rolling lease” or “pop up” styled stores. I’m talking about a few national franchises with nationwide footprints.

    I went to this mall purposely the other day looking for one where I had shopped just this past January, and walked the mall twice figuring I must be blind and passed them. Only when I finally looked at the directory (their name was still listed) then went to the destination only to find a “pop up” styled business in its place did I realize that in fact – they were gone. (The name is inconsequential for this discussion)

    This really piqued my interest as to start paying more attention for this reason: How many brand named stores have you seen over the years where you’ve rarely (if ever) seen a customer in there but understood they are there year after year because its more of a form of “advertising” rather than a pure retail play? i.e., Pottery Barn™ and others fall into this category in my opinion.

    I coined the term years ago of “presence advertising” to describe these. In other words, conducting business there is not analogous to paying the help, bills, and rent. Sometimes being present in certain markets was more important to the overall structure than the actual retail dollars provided by a particular location. i.e., Profit generation or expenses aren’t location specific. They’re cumulative.

    That said, what does it say when you have these very stalwarts of “presence retailing” packing it up and moving out faster than their peers can pack away their “take an additional 75% off” sales material?

    So with this new-found interest I decided to see just what might be happening at some of the other “big box” anchors as well as a few stand alone’s. What I found with my newly sharpened focus was both eye-opening as well as deplorable.

    I held a very low bar at what I might find at Sears™ these days and – it was a good thing. The store reminded me more of the what’s come to be known as the “pop up” variety. All the clothing racks seemed to be on the flimsy rolling ubiquitous 4 sided hanger stands.

    Everywhere hung signs of “CLEARANCE.” It just had the look and feel of desperation. JC Penny™ didn’t fare that much better from my point of view. And this is in a mall that many would consider as “bustling” and “up scale” by today’s standards.


    Then I drove over to a local Kohls™. Both my wife and I couldn’t get over the shape of the store. As I said earlier “deplorable” is the word that fits.

    Clothes were piled and strewn over displays like a band of raucous teenagers just pulled off an after school prank. Shelves were mixed with differing items. Pants piled on top of shirts, styles mismatched, sizes mismatched, racks of items mismatched, stacks of piled pants from the bottom of displays knocked over and left disheveled in the middle of an isle. And no, I’m not exaggerating for I haven’t even detailed all I saw. This was just the men’s department!

    I stood trying to appear nonchalant as I watched 2 frustrated store employees that seemed all of 18 or 20 years old try desperately to figure out how they were going to re-price and restock a display that looked as if someone ransacked it moments earlier. I could hear the frustration in their tones. One couldn’t help but infer from their discussion there was far from enough help and they were fighting a losing battle. And it showed.

    Walmart™ was no better. Best Buy™ was pitiful in as far as selection and feel. Especially when someone like myself remembers when they were “the place.”




    The problems inherent in both middle as well as lower retailing are quickly becoming more and more self-evident as well as unavoidable. The “wealth effect, ” the “gas price savings” that were explained ad nauseam throughout the financial media in a tone of “just you wait and see, earnings this season are going to be just awesome” will fall flatter on its face than a “Take an additional 50% off the lowest price” sale sign to an empty store.

    If what I witnessed is taking place throughout the country all I can say is: Nobody’s buying it – literally.

    To paraphrase one of retailing’s most vociferous watchdogs Howard Davidowitz when explaining the current state of retailing and malls:
    “What’s going on is the customers don’t have the f***ing money. That’s it. This isn’t rocket science.”

    He’s absolutely dead on. And, it would appear now with QE (as of this writing) still in the tail lights, along with the possibility (however so slight) that interest rates may rise, so too are the retailers themselves even more “empty pocketed” than their ailing consumers.

    For without the financial engineering and Non-GAAP charades to prop up the “earnings beat” while tapping out their own credit lines to “buy back stock” this earnings season just might garner another mantra they once used as a defense to ward off criticism. For this earnings season truly just might fit that moniker of “its different this time.”

    We’ll know soon enough.

    http://www.zerohedge.com/news/2015-04-12/why-retail-earnings-season-different
     
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  16. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Walgreens has three locations in a nearby town. Seems excessive. Maybe they built too many?
     
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  17. brosil

    brosil Gold Member Gold Chaser Site Supporter

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    I suspect that they built extra stores to try and drive out their competitions and now are shedding the unprofitable stores.
     
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  18. Ahillock

    Ahillock A nobody Mother Lode

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    From my experience, whenever a part of town was built up and new shopping areas were built, you always tend to see a brand new Walgreens/CVS/Rite Aide go in the new shopping area. Plus you see other typical stores and places to eat. Like a Subway/Jimmy Johns a Chipotle/Qdoba and maybe an ice-cream place like Cold Stone. Then you would maybe have a Game Stop store and some clothing stores. Not to mention there would also be a AT&T/Verizon/TMobil type cell phone store.

    Seems like that is the standard. Even if there is another one of those locations just a few miles down the road or on the other side of town. Retail was built up and overextended itself based on projections that were just never realistic and now reality is coming home to roost. Just my $0.02.
     
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  19. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]Retail Sales Misses For 4th Month In A Row For First Time Since Lehman[/h]

    [​IMG]
    Submitted by Tyler Durden on 04/14/2015 08:35 -0400






    After 3 months of missed expectations and the first consecutive drop in retail sales since Lehman, retail sales rose 0.9% in March (missing expectations of +1.1%), following a revised 0.5% drop in February. While the 0.9% rise is the biggest since March last year, this is now the worst streak of missed expectations in retail sales since 2008/9. Ex-Autos, retail sales also mised expectations (rising just 0.4% vs 0.7% exp).



    [​IMG]


    The breakdown shows what we already know: courtesy of soaring non-revolving loans, auto sales spiked in March...

    [​IMG]

    ... however offset by modest increases in other category, with electronics, food and online sales posting a decline.

    Too warm outside to spend money on Amazon.com?

    [​IMG]


    http://www.zerohedge.com/news/2015-04-14/retail-sales-misses-4th-month-row-first-time-lehman
     
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  20. Ahillock

    Ahillock A nobody Mother Lode

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    More to come.


    "you can see, the number of stores that are being permanently shut down is absolutely staggering…

    180 Abercrombie & Fitch (by 2015)

    75 Aeropostale (through January 2015)

    150 American Eagle Outfitters (through 2017)

    223 Barnes & Noble (through 2023)

    265 Body Central / Body Shop

    66 Bottom Dollar Food

    25 Build-A-Bear (through 2015)

    32 C. Wonder

    21 Cache

    120 Chico’s (through 2017)

    200 Children’s Place (through 2017)

    17 Christopher & Banks

    70 Coach (fiscal 2015)

    70 Coco’s /Carrows

    300 Deb Shops

    92 Delia’s

    340 Dollar Tree/Family Dollar

    39 Einstein Bros. Bagels

    50 Express (through 2015)

    31 Frederick’s of Hollywood

    50 Fresh & Easy Grocey Stores

    14 Friendly’s

    65 Future Shop (Best Buy Canada)

    54 Golf Galaxy (by 2016)

    50 Guess (through 2015)

    26 Gymboree

    40 JCPenney

    127 Jones New York Outlet

    10 Just Baked

    28 Kate Spade Saturday & Jack Spade

    14 Macy’s

    400 Office Depot/Office Max (by 2016)

    63 Pep Boys (“in the coming years”)

    100 Pier One (by 2017)

    20 Pick ’n Save (by 2017)

    1,784 Radio Shack

    13 Ruby Tuesday

    77 Sears

    10 SpartanNash Grocery Stores

    55 Staples (2015)

    133 Target, Canada (bankruptcy)

    31 Tiger Direct

    200 Walgreens (by 2017)

    10 West Marine

    338 Wet Seal

    80 Wolverine World Wide (2015 – Stride Rite & Keds)"


    Major U.S. Retailers Are Closing More Than 6,000 Stores
    http://theeconomiccollapseblog.com/archives/major-u-s-retailers-are-closing-more-than-6000-stores
     
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  21. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Wendy's tops profit expectations, announces store and asset sale plans
    By Tomi Kilgore

    Published: May 6, 2015 7:47 a.m. ET

    Fast food burger chain Wendy's Co. WEN, +5.94% reported on Wednesday a first-quarter profit that fell to $27.5 million, or 7 cents a share, from $46.3 million, or 12 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came in at 6 cents, beating the FactSet consensus of 5 cents. Revenue declined 11% to $466.2 million, just shy of the FactSet consensus of $475 million, as the company owned 240 fewer restaurants. Systemwide same-restaurant sales rose 3.2%, above the FactSet consensus of 2.7%. The company said it planned to sell its bakery operations during the second quarter, and to sell a total of 380 restaurants in 2015 and about 260 restaurants in 2016. The stock, which rose 1.2% in light premarket trade, has run up 16% year to date while the S&P 500 has gained 1.5%.

    http://www.marketwatch.com/story/we...nounces-store-and-asset-sale-plans-2015-05-06
     
  22. Ahillock

    Ahillock A nobody Mother Lode

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  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    [h=1]Major Chain Stores Shutting Down as America Faces “Birth Pangs of Retail Apocalypse”[/h]
    [TABLE]
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    [TD="width: 240"]Mac Slavo
    July 14th, 2015
    SHTFplan.com
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    Reduced consumer spending is heralding a looming economic downturn, if not collapse, with an unprecedented shutdown of major box stores, restaurants and grocers underway.

    It doesn’t bode well for the millions of Americans who are already seriously struggling, and will only accelerate the death of the middle class.

    Along with this massive shrinkage of the retail sectors will go thousands of jobs. Natural News reports:

    There is chatter across the web about dozens of major retail chains that are expected to permanently shutter a large number of their store locations this year. Popular names like Abercrombie & Fitch, Barnes & Noble, Chico’s, Children’s Place, Coach, Fresh & Easy, Gymboree, JCPenney, Macy’s, Office Depot, Pier One, Pep Boys, and many others are named as soon-to-be casualties in what some news sources are now referring to as the coming “retail apocalypse.”

    The Economic Collapse Blog pins 2015 as a significant “turning point” for the U.S. economy, ominously warning that at least 6,000 retail store locations are expected to close this year based on company announcements. Many American consumers are already witnessing the birth pangs of this retail apocalypse as brick-and-mortar department, specialty, and even food shops close their doors for good.


    The list of store closures (see here) is truly massive, and in no way accounts for everything that’s coming.

    But Americans are still buying one major retail category — technological gadgets like iPhones, wearables, smart devices and computers. As technology purchases soar, shopping malls that have long specialized in clothing and fashion retail are falling in on themselves.

    Business Insider calls it a slow and painful death, noting the collapse not only of thousands of stores from dozens of chains, but even the fall of giants like Gap:

    Gap once ruled the retail world. But today America’s largest apparel retailer is closing a quarter of its stores and laying off hundreds of workers after disappointing sales.

    Gap’s closures are indicative of a larger trend in American retail.


    According to National Real Estate Investor, more retailers are planning to close, but are holding on for the end of the holiday shopping season:

    After a tsunami of store closing announcements during the first half of the year, experts forecast that the remainder of 2015 will be relatively quiet as retailers focus on getting through the holiday season. However, retailers will continue to shutter stores throughout the year as leases expire.
    […]

    The most recent store closing data available reports that retailers and restaurateurs announced closings of more than 3,500 establishments totaling an estimated 19.9 million square feet, according to the U.S. Retail Real Estate Supply Conditions report from ICSC Research and PNC Real Estate Research. The planned 1,784 store closures announced after Radio Shack’s February Chapter 11 bankruptcy filing represented half of the total first-quarter tally.


    And the tenants aren’t being replaced by new stores; the retail sector is just shrinking. Business Insider notes:

    More than two dozen malls have shut down in the last four years and another 60 malls are on the brink of death, The New York Times reported, citing Green Street Advisors, a real-estate and real-estate investments trust analytics firm.


    The elephant in the room in clearly online sales, with major sites like Amazon undercutting and dwarfing brick and mortar box stores.

    And with online sales impacting on-the-ground retail, local jobs are destroyed as well. The future of retail will be more compacted, less physical and more out of reach for those with shrinking pocketbooks and dwindling means.

    Please Spread The Word And Share This Post


    http://www.shtfplan.com/headline-ne...ces-birth-pangs-of-retail-apocalypse_07142015

     
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  25. Thecrensh

    Thecrensh Gold Member Gold Chaser

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    It seems people now have the freedom to shop from home, and instead of driving from store/mall to store/mall, they can spend more quality time with the family. You know, all taking selfies and posting them to Twittergram.
     
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  26. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    I don't think restaurant closings are related to internet sales. Don't they get it? People are broke, their jobs are in danger, and they are drowning in debt. Two people eating at a sit down diner typically have a $30 + bill for an inexpensive meal. That's a lot of money for some people.

     
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  27. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    lol.................:beerglass:
     
  28. Mr Paradise

    Mr Paradise Midas Member Midas Member

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    Online retailers like Amazon were created and kept afloat financially by the globalists now for almost twenty years to bankrupt mom & pops and main street USA small businesses. Now that people have had to flee to the big box stores for employment that is the next objective.
     
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  29. Ahillock

    Ahillock A nobody Mother Lode

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  30. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    I think there are way too many peddlers in today's society anyway.
     
  31. argentos

    argentos Former Boat Owner Gold Chaser

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  32. Ahillock

    Ahillock A nobody Mother Lode

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  33. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

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  34. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Sprint.... so 1990's.
     
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  35. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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  36. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

    [​IMG]
    Submitted by Tyler Durden on 02/02/2016 11:22 -0500


    Submitted by Michael Snyder via The End of The American Dream blog,

    Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016.

    As economic activity slows down and Internet retailers capture more of the market, brick and mortar retailers are cutting their losses. This is especially true in areas that are on the lower portion of the income scale. In impoverished urban centers all over the nation, it is not uncommon to find entire malls that have now been completely abandoned. It has been estimated that there is about a billion square feet of retail space sitting empty in this country, and this crisis is only going to get worse as the retail apocalypse accelerates.

    We always get a wave of store closings after the holiday shopping season, but this year has been particularly active. The following are just a few of the big retailers that have already made major announcements…

    -Wal-Mart is closing 269 stores, including 154 inside the United States.

    -K-Mart is closing down more than two dozen stores over the next several months.

    -J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

    -Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

    -The Gap is in the process of closing 175 stores in North America.

    -Aeropostale is in the process of closing 84 stores all across America.

    -Finish Line has announced that 150 stores will be shutting down over the next few years.

    -Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.

    But these store closings are only part of the story.

    All over the country, shoppers are noticing bare shelves and alarmingly low inventory levels. This is happening even at the largest and most prominent retailers.

    I want to share with you an excerpt from a recent article by Jeremiah Johnson. The anecdotes that he shares definitely set off alarm bells with me. Read them for yourself and see what you think…

    *****

    I came across two excellent comments upon Steve Quayle’s website that bear reading, as these are two people with experience in retail marketing, inventory, ordering, and purchases. Take a look at these:

    #1 (From DJ, January 24, 2016)



    “Steve-

    [Regarding the] alerts about the current state of the RR industry. This is in line with what I’ve been noticing as I visited our local/regional grocery store, Walmart, and Target this week in WI. I worked in big box retail for 20 years specializing in Inventory Management. These stores are all using computerized inventory management systems that monitor and automatically replenish inventory when levels/shelf stock get low. This prevents “out of stocks” and lost sales. These companies rely on the ability to replenish inventory quickly from regional warehouses.



    As I shopped this week and looked at inventory levels I was shocked. There were numerous (above and beyond acceptable levels) out of stocks across category lines at all three retailers.



    And even where inventory was on the shelf, the overall levels were noticeably reduced. Based on my experience, working for two of these three organizations in store management, they have drastically/intentionally reduced their inventory levels. This is either due to financial stresses/poor sales effecting their ability to acquire new inventory, or it could be the result of what was mentioned earlier regarding the transporting of goods to these regional warehouses. Either way this doesn’t bode well for the what’s to come. Stock up now while you can!”

    #2 (From a Commenter following up #1 who didn’t provide a name, January 26, 2016)



    “I’d like to tailgate on the SQ Alert “based on my experience…” regarding stock levels in big box stores. This weekend we were in two such stores, each in fairly isolated communities which are easily the communities’ best source for acquiring grocery items in quantity.



    I myself worked in retail (meat) for thirty years so I know exactly what a well-stocked store looks like, understand the key categories and category drivers, and how shelves are stocked and displays are built to drive sales and profits. I also understand supply chain and distribution methodologies quite well.



    Each of the stores we were in were woefully under-stocked. This time of year-the few weeks following the holidays-is usually big business in groceries and low stock levels suggest either poor ordering at the store level, poor purchasing at the distribution level or a purposeful desire to be under-stocked.



    Anyone familiar with the retail grocery industry is also familiar with how highly touted “the big box store’s” infrastructure is. They know exactly when demand is high and for what items and in what quantities. It is very unlikely that both stores somehow got “surprised” by unusually high demand. It is reasonable then to imagine that low stock levels in rural areas with few options is a purposed endeavor to assure that both the budget conscious and the folks in more remote areas are not fully able to load up their pantries.



    Simply put I believe the major retailer in question is doing their part to limit the ability of rural America to be sufficiently prepared. Nevertheless, we are wise to do our best to keep ahead of the curve. God bless your efforts, Steve.”

    *****

    Yes, this is just anecdotal evidence, but it lines up perfectly with hard numbers that we have been discussing.

    Exports are plummeting all over the globe, and the Baltic Dry Index just plunged to another new all-time record low. The amount of stuff being shipped around by air, truck and rail inside this country has been dropping significantly, and this tells us that real economic activity is really slowing down.

    If you currently work in the retail industry, your job is not secure, and you may want to start evaluating your options.

    We have entered the initial phases of a major economic downturn, and it is going to be especially cruel to those on the low end of the income spectrum. Do what you can to get prepared now, because the economy is not going to be getting better any time soon.


    http://www.zerohedge.com/news/2016-...shelves-and-store-closings-all-across-america
     
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  37. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Well, everywhere I go the shelves are full and the parking lots are jammed. This may be accurate but I personally haven't seen it yet in Southern Cow Hampshire nor in Taxachusetts
     
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  38. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Mall owner PREIT announces more property sales


    Regional mall owner PREIT has entered into agreements to sell three Pennsylvania properties for a combined $75 million.

    The Philadelphia-based company announced plans Tuesday to sell the Logan Valley Mall in Altoona, Blair County; an office condominium at 801 Market St. in Philadelphia; and a 4.9-acre parcel of land in Exton Square, Chester County.


    PREIT in recent years has been shedding underperforming malls and non-core properties in favor of investing in high-earning properties such as the Cherry Hill and Moorestown malls in New Jersey and the Willow Grove Park Mall in Pennsylvania.

    "This is another example of our ability to execute in a challenging environment," CEO Joseph Coradino said in a statement. "This is a critical step in the further transformation of PREIT into a top-tier mall company. As the retail industry evolves, there are many opportunities to improve the shopping environment and raising capital through the sale of non-core properties, provides the perfect vehicle for creating value for our shareholders."

    Enjoying our content? Become a Bucks County Courier Times subscriber to support stories like these. Get full access to our signature journalism for just 44 cents a day.

    http://www.buckscountycouriertimes....cle_2e736d62-7c3d-11e7-b4bb-9bc34c98cb64.html
     
  39. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Bulldoze the malls and put in parking lots!

    [​IMG]
     
  40. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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