US store closings

 Warner Todd Huston:

Joe Biden’s disastrous economy helped lead to more retail outlets closing then ever in 2023 and the destruction will likely continue this year, analysts say.

Skyrocketing inflation caused retailers to cut down on the number of locations at an accelerated rate last year, from fast-food, to grocery stores, to clothing outlets, and more. Some retailers also declared bankruptcy and will altogether disappear from the American economy.

For instance, discount retailer Tuesday Morning announced it was going out of business entirely after almost 50 years in business. Christmas Tree Shops also filed for bankruptcy and liquidated all its stores. Wedding supply chain David’s Bridal also closed up, leaving thousands of employees without a job, Just the News reported.

Sears, once an American department store powerhouse, also shuttered more than 700 stores and now only has 12 locations left out of the 3,500 it had just back in 2010.

Many others are also rushing to close down stores, including CVS, Walgreens, Foot Locker, Pizza Hut, Boston Market, and even Walmart.

Also, Macey’s shuttered another five stores last year, shedding 3.5 percent of its workforce.
...

Biden's reckless spending has been seen as a drive of inflation which impacted the profitability of many stores and led to the closings.

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