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.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more

Bin Laden's concern about Zarqawi's remains

James Robbins: ... Bin Laden suggests that President Bush should allow Zarqawi’s body to be returned to his family in Jordan, but this is a matter that is up to the Jordanian government, which so far has not shown much interest in facilitating a homecoming. Bin Laden mocks King Abdullah II, calling him a Coalition minion, and asking “w hat scares you about Abu Musab after he’s dead? You know that his funeral, if allowed to happen, would be a huge funeral showing the extent of sympathy with the mujahedin.” A large crowd would definitely turn out, though most people would be on hand to demonstrate their anger and disgust. Last November’s hotel bombings in Amman , masterminded by Zarqawi, are still fresh in people’s memory, and mentioning them to Jordanians has the same visceral impact as memory of the 9/11 attacks does here. Jordan has adopted a zero-tolerance policy towards those who choose to mourn the country’s least favorite son, and four opposition members of parliament who paid con
Read more