Friday, February 5, 2016

Retail closures scream recession

First it was Macy’s, who within days of the start of the new year announced store closures and layoffs, and was quickly followed by bell wealth company Walmart, who doubled down and reported the closure of hundreds of stores.  And now we can include at least six more major retailers who are shuttering down their low revenue outlets as economic conditions scream recession a little more than a month into 2016.
Contrary to mainstream business news, last year’s holiday shopping season was a major disappointment with sales growth worse than in 2014.  And after two years of blaming cold weather on slumping sales, these same pundits switched course and blamed warm weather instead.


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