Tuesday, January 13, 2015

RETAIL EARTHQUAKE: All these big-name stores closing

WASHINGTON – Christmas is over. Now get out.

That was the word this week as two of the nation’s giant retailers announced to employees and shoppers the closings of dozens of stores.

Macy’s is closing 14 of its 790 stores across the country.

JCPenney is closing 39 of its stores and laying off 2,250 workers.

And that’s just the beginning of the retail earthquake hitting America, say analysts.

“I believe that we are on the verge of a number of business failures of specialty retailers as well as some national general retailers which in turn will have a domino effect on those dealing with the retail industry,” says bankruptcy expert Chuck Tatelbaum. “Because of the changes in buying habits of U.S. consumers, as a result of the continuing hesitancy to spend, the 2014 holiday season was not sufficiently successful for many retailers that have either over expanded, fell out of favor or had insufficient capital and merchandise.”

The last few years have not been kind to major store chains. Many once revered brands have been closing stores. Apparently some were only staying open through the Christmas season, which will prove to be their last.

Story here
Now I wonder why the last few years haven't been kind to major store chains? Could it be that they hire pretty much anyone off the street for minimal pay? Think "lets hire a heartbeat" here... Could it be that people who have worked hard for their fiat currency really don't care to deal with rude, smart mouthed, and shitty employees? I see it a lot. You know what I'm talking about. The ones who really get under my skin are the "managers" that don't know their ass from a hole in the ground. They don't know shit from Shinola about products that are sold in their stores most of the time. I think I'll continue to shop online and save myself the headache of dealing with shitty attitudes and people who don't know their jobs.

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