In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
2017 has become the worst year for store closings in the United States possibly since the Great Depression. There is a strong possibility that the actual number of store closings might exceed 10,000. Such a number is possible because analysts like Credit Suisse may not be counting franchisees and mom and pop stores that will also be going under.
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The conventional wisdom is that Dollar General is “Amazon Proof,” but conventional wisdom is often dead wrong about the Everything Store.
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Traditional supermarkets like Supervalu are struggling because of greatly increased competition and a collapse in food and consumer goods prices. These forces might make the historic supermarket business model unsustainable.
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The most disturbing aspect of the retail apocalypse afflicting America is that nobody knows how many stores are really closing.
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The retail apocalypse is about to get far worse and the great American institution known as department stores might soon be history. Take your children to the mall and the department stores now so they can say they saw one. You might not have a chance to show them those palaces of retail in just a few years.
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If you are looking a retailer to buy and hold for a long time, I’d recommend Lowe’s. It has a wide moat, a lot of cash, lots of float growing revenues and great growth prospects. At $77.06 a share, Lowe’s is also a bargain when compared to Home Depot’s $126.4 stock price. Lowe’s is definitely the value investment in home improvement.
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It looks as if Best Buy is only capable of very limited income growth – that can be attributed to inflation rather than increased sales. It seems to have reached a certain level of revenue and is just sitting there. Despite reports of an economic recovery; Best Buy is struggling to maintain its current level of revenue.
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With numbers like these, one has to wonder if Macy’s and Dillard’s businesses are sustainable. These companies will have to make major numbers of store closings and other cutbacks just to stay in operation.
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It looks like America’s retailers are getting set for a Summer of Death 2016, with chains dying right and left. Likely to join Aerostopale and Sports Authority in the retail graveyard are Office Depot (NASDAQ: ODP), and almost every mall clothing retailer.
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Four U.S. states, Alaska, North Dakota, West Virginia and Wyoming, are already in a recession because of the collapse in oil and gas prices, Bloomberg reported.
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