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Shopping malls across America are going to look a whole lot emptier soon. An exodus of giant retailers is beginning with the announcement of hundreds of store closures and thousands of people newly unemployed. The first of January, I broke with my usual tradition and wrote not about positive resolutions, but about t he impending rockslide of the US economy.
Last year, we saw announcements of the expected closure of some retail giants. Best Buy Forecast store closings: Kmart toSears to J.
Penney Forecast store closings: JCPenney is closing 39 of its stores and laying off 2, workers. Sears has been around for years, but it, too, is closing under-performing stores. Wonder, the preppy retailer, is going out of business, closing all 11 of its U.
Wet Seal is closing retail stores while dealing with bankruptcy proceedings.
Nearly 3, full- and part-time workers will be unemployed. Aeropostale, suffering from declining sales, closed 75 stores during the holiday season, which runs from November through January.
And inthey expect to close an additional 50 to 75 stores. RadioShack, which is negotiating with lenders to gain approval to shutter 1, stores, said last month that it closed locations in How does this affect you?
You may not work in retail yourself, but never doubt that the mass closure of these businesses will directly affect you.
Maybe you are wondering how. Perhaps you believe you can compartmentalize this information, pack it away, and go on with your life as you always have. This is going to be catastrophic on a variety of levels.
Think about the people who worked in these stores. There will be more competition for the smaller number of jobs in America, and many people will not be able to find work. Think about those who provided the inventory for these stores.
Yes, I know a lot of it was made in other countries. But, it was imported here and distributed here. This will ripple through and cause other businesses to go under, which means still more people are unemployed.
Think about those who transport the inventory. As companies struggle to keep trucks on the road, transport costs will go up, which will cause future inventory in stores to be priced higher. Jobs will be even harder to get than they were previously — and looking at the unemployment rates, it was pretty darned difficult before.
As financial desperation increases, so will crime. What can you do about the collapsing economy? You need to consider the following: Create multiple streams of income. You need only to look at the numbers above to see that jobs can be ephemeral. You need to be making money from more than one source multiple streams of income.
Start a small business that provides a safety net. Learn to shop wisely. Each purchase needs to be thought out carefully because the day may come when your own personal economic collapse occurs in the form of a job loss, an illness, or a catastrophic bill.
Your supply of food, toiletries, and household items can mean the difference between weathering a storm in relative comfort or going under completely.Southern California Broadcasters Association Releases its Extensive Quarterly Market Guidance Report for Q3 Los Angeles, CA, June 28, – The Southern California Broadcasters Association (SCBA) has published its extensive SCBA Quarterly Market Guidance Report for the third quarter of for its Southern California .
The retail world—with its razor-thin margins and relentless big bets on fashions, trends and timing—has never been a haven for the faint of heart. A grocery store or grocer's shop is a retail shop that primarily sells food.A grocer is a bulk seller of food..
Grocery stores also offer non-perishable foods that are packaged in bottles, boxes, and cans; some also have bakeries, butchers, delis, and fresh produce.
The leading site for news and procurement in the retail industry. Find the latest news, headlines, blogs and video about retail, consumers, shopping and retail companies from torosgazete.com By Craig Patterson. The retail industry as a whole is in a state of transition, and will prove to be an interesting year.
Sears Canada is about to close all of its stores, releasing millions of square feet of space to fill.
Off-price retailing is about to see unprecedented competition as Nordstrom Rack enters the market this spring. Legal marijuana retail .