Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

JC Penny

The Death Spiral

Sears is Dying Faster than We Thought

That means Sears could close over 200 stores by the end of the year. It only closed 96 stores last year, and if that isn’t a sign of the death spiral, I don’t know what is. For those of you unfamiliar with it, the death spiral occurs when a retailer’s sales cannot cover its operating expenses, so it has to start closing stores or selling assets to pay the bills.

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