HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » sinkingfeeling » Journal
Page: 1

sinkingfeeling

Profile Information

Member since: 2003 before July 6th
Number of posts: 40,188

About Me

I reside in Fayetteville, Arkansas. I am female, single, and one year from full retirement. I'm already retired from a 30-year career with IBM. Love my Victorian house built in 1858 and my dogs and cats.

Journal Archives

The Cause and Consequences of the Retail Apocalypse

https://newrepublic.com/article/145813/cause-consequences-retail-apocalypse

This is an older article, but in view of the Toys R Us closings, people need to understand what's looking in the near future.


The Macy’s near my house is closing early next year. The mall where it’s located has seen less and less foot traffic over the years, and losing its anchor store could set off a chain reaction. Cities across the country are facing this uncertainty, with over 6,700 scheduled store closings; it’s become known as the retail apocalypse.

This story is at odds with the broader narrative about business in America: The economy is growing, unemployment is low, and consumer confidence is at a decade-long high. This would typically signal a retail boom, yet the pain rivals the height of the Great Recession. RadioShack, The Limited, Payless, and Toys“R”Us are among 19 retail bankruptciesthis year. Some point to Amazon and other online retailers for wrestling away market share, but e-commerce sales in the second quarter of 2017 only hit 8.9 percent of total sales. There’s still plenty of opportunity for retail outlets with physical space.

Billions of dollars of this debt comes due in the next few years. “If today is considered a retail apocalypse,” Bloomberg reported, “then what’s coming next could truly be scary.” Eight million American retail workers could see their careers evaporate, not due to technological disruption but a predatory financial scheme. The masters of the universe who devised it, meanwhile, will likely walk away enriched, and policymakers must reckon with how they enabled the carnage.
Posted by sinkingfeeling | Fri Mar 16, 2018, 04:17 PM (7 replies)

Somebody else that feels like I do ......

https://twitter.com/_amroali/status/972154413258289153?s=20
Posted by sinkingfeeling | Fri Mar 9, 2018, 08:47 PM (32 replies)
Go to Page: 1