Retail Tidal Wave Speeds Up 3-30-2019

The debate over whether the debt soaked US Economy is headed for a recession/depression is over as far as I am concerned. The stock market is a feeble indicator of the actual state of the real economy, or what is called “main street.” Using any criteria you want to, inventory build up, store closings, massive debt from credit cards, home loans, student debt, car loans etc, it is clear the real American economy is in much worse shape than the media cheerleaders are saying. The link below indicates store closings, and layoffs are now speeding up.

https://www.businessinsider.com/walmart-stores-closing-list-2019-3

  • Walmart is closing 11 stores in the US.

  • The closing stores include one Walmart Supercenter in Lafayette, Louisiana, and Walmart Neighborhood Market stores in Arizona, California, Kansas, South Carolina, Tennessee, Virginia, and Washington.

  • The closing date for most of the affected stores is April 19, according to employees of those stores, who confirmed the closings to Business Insider.

    Walmart representatives had previously confirmed the closings to various local media outlets but did not immediately return Business Insider’s request for comment.

    Walmart Neighborhood Markets are about one-fifth the size of a Walmart Supercenter, and they are typically in areas that are more than where Supercenters are located. These stores focus primarily on selling groceries.

  • Here is another link to ponder.
  • https://www.nbcnews.com/business/business-news/retail-apocalypse-jcpenney-payless-lifeway-announce-3-000-combined-store-n988756
  • Retail apocalypse? JCPenney, Payless, LifeWay announce 3,000+ combined store closures

    “In the post-digital era, only the strong will survive. Darwin would love this,” said one retail analyst.

    By Michael Cappetta

    More than 41,000 people have lost their jobs in the retail industry so far this year — a 92 percent spike in layoffs since the same time last year, according to a new report.

    And the layoffs continue to mount, with JCPenney announcing this week it would be closing 18 stores in addition to three previously announced closures, as part of a “standard annual review.”

    Retail job cuts for January and February total 41,201, said research firm Challenger, Gray & Christmas in a new survey, including nationwide retailers such as Payless and Charlotte Russe.

    “This is significant, and marks an acceleration of store closures and job cuts in the near term,” said Mark Hamrick, a senior economic analyst at Bankrate. “Retail is ground zero for seeing the shifts of change in our lives.”

    Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
    My end of the world e book “Day of the Dogs” is available for sale at the following url
    http://www.amazon.com/-/e/B007BRLFYU

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