Black and Decker moving jobs to Texas!
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skeptic
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Posted 8:22 am, 09/19/2019
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I think I heard that on the radio so I don't remember all the details. But Target is trying an in store fulfillment system for its one day deliveries. So if you order in Winston then your item will be shipped from the Winston store.
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1048andonehalf
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Posted 12:08 am, 09/19/2019
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Plain and simple, the GOP is lying. The economy is bad. Any fool can look around and see it.
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antithesis
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Posted 8:57 pm, 09/18/2019
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Ant as e-commerce sales continue to climb more brick and mortars will close.
This is true, skeptic, but I refer back to the article that I posted:
1. Bankruptcies are up, so these aren't companies that are closing stores to focus on e-commerce
2. December 2018 sales were the lowest since 2009, including e-commerce
3. Consumer spending on retail is down, in part due to record high student loan debt, credit card debt, and record high credit card interest rates
This also explains why the Dow has gone up in spite of an increase in consumer debt... the companies that are profiting the most are Visa and American Express, low quality food providers like McDonalds, and low quality retailers like Walmart. These companies make the highest profits when the the general public has less money to spend.
And while e-commerce is great, it only requires a fraction of the number of employees. Which is good for the consumer because it can result in lower prices, but it also results in a huge number of jobs lost. If each of those 12,000 stores had an average of only 20 employees then that's 240,000 people without a job.
Target is hiring 150,000 people to focus on e-commerce. Do you have a source for this? I haven't heard about that and couldn't find anything, but that's pretty interesting!
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skeptic
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Posted 12:08 pm, 09/17/2019
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Ump I don't have time to explain every little detail to you. I'm sorry you didn't understand what you read.
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Umpire
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Posted 10:10 am, 09/17/2019
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YOU SAID:
Coming back to the USA! More winning!
NOW, TRY AGAIN.
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skeptic
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Posted 10:06 am, 09/17/2019
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Ump I never said they are closing anything.
Ant as e-commerce sales continue to climb more brick and mortars will close. Target is hiring 150,000 people to focus on e-commerce. There is a lot of companies getting out of brick and mortars to only sale online.
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Umpire
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Posted 8:03 am, 09/17/2019
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FIRST, THIS ANNOUNCEMENT WAS MADE BACK IN MAY. GUESS THAT SKEPTIC IS JUST NOW GETTING THE NEWS.
SECOND, HE SAID IN THE OP THAT THEY ARE COMING BACK TO THE USA. THE NEW PLANT IN FORT WORTH WILL NOT BE CLOSING ANY FOREIGN PLANTS.
SKEPTIC, LOOKS AS IF YOU WERE CAUGHT IN ANOTHER LIE.
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Hillary is a murderer
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Posted 7:52 am, 09/17/2019
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therealelkin | Posted 7:38 am, 09/17/2019 | Do you know anyone who actually wants a job that doesn't have one??
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Not at all but I do know a few people including myself who have had to tell the boss man that he needs to stop marketing my area. I'm well compensated for my work but I have more than enough work to do with my best clients. Huge change from the Obama years!
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1goddess
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Posted 7:51 am, 09/17/2019
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empowers (view profile)
| Posted 7:29 am, 09/17/2019
| Even if you don't like Trump you shouldn't get on the pissing and moaning bandwagon with others. That ain't nice....
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So, I take it you're on the "Trump" is a nice guy "bandwagon"....with the others~~ emp's you continue to disappoint me. Surely you're not deaf to the things Hair Twittler says...pay attention girl...he just "ain't nice..."
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therealelkin
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Posted 7:38 am, 09/17/2019
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Do you know anyone who actually wants a job that doesn't have one??
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empowers
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Posted 7:29 am, 09/17/2019
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Even if you don't like Trump you shouldn't get on the pissing and moaning bandwagon with others. That ain't nice....
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1048andonehalf
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Posted 1:57 am, 09/17/2019
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You Trumpites sure like to paint a rosy picture. The economy is not in good shape, We are in more debt then we have ever been and it is getting bigger. Everywhere you go it is just like Wilkes. Look around and tell us how great it is.
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antithesis
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Posted 10:22 pm, 09/16/2019
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$1.5 trillion, in fact... but that we are at a record high of over $1 trillion in credit card debt is even scarier.
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backwater
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Posted 10:13 pm, 09/16/2019
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Student debt has exceeded 1trillion dollars!
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antithesis
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Posted 9:54 pm, 09/16/2019
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That's true, skeptic, but things that are new:
The pace of retail bankruptcies in 2019 to date is accelerated compared to what we observed in late 2018. The 2018 holiday season failed to meet expectations, with December retail sales dropping 1.6% from the month prior-the weakest sales performance since December 2009. Last year's lackluster holiday season contributed to 10 retailers filing for bankruptcy in 2019's first quarter alone, including Payless, Gymboree and Charlotte Russe.
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Retailers of all scale and size have closed a combined 7,000 stores so far this year, already exceeding all prior full years. For 2018 overall, total store closures were just under 6,000, while Coresight Research predicts over 12,000 stores will be closed this year. These closures result from a combination of retailers going out of business and others reducing their physical footprint.
The retailers with the most store closings were apparel specialty stores, which accounted for about 36% of total store closures in the first half of 2019, up from 14% in 2018 overall, according to Coresight Research. Footwear retailers accounted for about 28% of closures, compared to 8% last year, and general merchandise stores comprised approximately 14% of closures, an increase from 2% in all of 2018.
Most of the store closure announcements were a result of bankruptcy filings, including Payless, Gymboree, Charlotte Russe, Shopko, Charming Charlie, Things Remembered and Samuels Jewelers. These retailers and others continue to grapple with excessive debt, over-expansion, private equity pressures and the fast clip of industry innovation.
In response to these pressures, many retailers are dropping the traditional flagship store and instead opting for smaller size store models situated in prime urban areas. Flagship stores no longer generate the volume of sales needed to justify the cost. Through their closures, retailers hope to offer an omnichannel brand experience while reducing the effect of onerous leases. Spearheading this trend are Lord & Taylor, Abercrombie, GAP, Diesel, Calvin Klein, and Ralph Lauren.
...
Ongoing trade disputes with China may continue to bear down the U.S. economy, especially if tariffs are placed on consumer goods such as electronics and apparel. As it stands, the U.S. has chosen to delay tariffs on a substantial portion of consumer goods until December, providing retailers ample time to stockpile products for the holiday shopping seasons. However, all additional trade tariffs are likely to have an adverse impact on the U.S. economy and retail sales.
Separately, consumer debt is now at record levels, recently exceeding $4 trillion for the first time, according to the Federal Reserve. Mortgages, specifically, are the largest component of household debt. Since hitting a peak in the 3rd quarter of 2008, U.S. mortgage debt dropped about 15% through the middle of 2013 and has been climbing ever since. In the 2nd quarter of 2019, mortgage debt reached a record of $9.406 trillion, exceeding the $9.294 trillion peak in 2008. Consumers are now spending about 10% of their disposable income on nonmortgage debts, including credit cards, automobile, personal and student loans. For example, outstanding student loan debt-totaling approximately $1.5 trillion-has tripled over the past 10 years. Meanwhile, credit card debt is also at its highest point ever, exceeding $1 trillion, and credit card interest rates are at a record high, with the average interest rate about 17.4%.
The rising debt burden could start to put pressure on consumers and lead to reduced spending, which would weigh heavily on distressed retailers in the 2nd half of the year or into 2020.
Looking ahead through the end of 2019, we expect to see additional bankruptcy filings-but at a slower pace than the first half of the year-and for the heightened rate of store closures to continue.
https://www.bdo.com/amp/ins...tcy-upd-(3)
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skeptic
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Posted 9:49 pm, 09/16/2019
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Retail apocalypse is nothing new. Nice try though.
Since at least 2010, various economic factors have resulted in the closing of a large number of North American retailers, particularly in the department store industry. For example, Sears Holdings had more than 3,500 stores and 355,000 employees in 2006.[8] By the end of 2016, Sears operated 1,430 stores.[9] In October 2018, Sears filed for bankruptcy and announced they would close an additional 142 of their 687 stores.[10] At the time of filing, Sears had 68,000 employees.[10]
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antithesis
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Posted 9:48 pm, 09/16/2019
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I don't know, I haven't been able to find that information. What it looks like, though, is that most stores are either closing big branches while opening smaller ones (like Walmart's Neighborhood Stores), or are closing branches entirely to focus on internet sales.
This is a heavily biased site so it's hard to separate the wheat from the chaff, but I'm assuming the raw data they reference is at least reliable:
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therealelkin
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Posted 9:40 pm, 09/16/2019
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How many stores opened in the same time frame?
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antithesis
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Posted 9:26 pm, 09/16/2019
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For the first six months of the year, there were 7,282 store closures announced... In 2018, there were just below 6,000... Coresight Research forecast for 12,000 store closures through the end of the year. https://www.bdo.com/amp/ins...tcy-upd-(3)
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