Another two bite the dust in this Obama economy, as Sears and Kmart will be closing “68 Kmart and 10 Sears stores this summer in its latest move to cut losses.”
A large number of large chain stores are suffering from our failing economy, resulting in closures and mass layoffs. From Macy’s, to Walmart and the John Deere, the largest manufacturer of farm equipment, none have been immune to government overreach and the failure that is Keynesian economics.
Truth and Action has been following the economic collapse of retail stores across the nation, with a projected 6000 stores closing.
Major U.S. retailers have announced the closing of more than 6,000 stores from coast to coast. The list includes only those retailers which have announced plans to close more than 10 outlets this year and next.
For example, 1,784 Radio Shack stores are vanishing, 400 of the Office Depot/Office Max chain by 2016, and 340 Dollar Tree/Family Dollar stores.
Walmart has closed many stores to help with profitability, reported Truth and Action months back.
One hundred and fifty four stores of the total two hundred and sixty nine are located in the U.S., and most of them are Wal-Mart Express stores or Neighborhood Market stores rather than the Super Centers that attract much more traffic and are generally more profitable. Wal-Mart Express stores launched in 2011 and are small convenience stores, with a total of 5,000 stores in the Wal-Mart system. 102 of the total closures will be Wal-Mart Express stores. In addition, Wal-Mart is seeing a good deal of competition from online competitors such as Amazon.com, and they are beefing up their online capability to answer that challenge.
Discover more about the Sears and Kmart demise on the next page.
Democrats do not like business.
Your joking ,right?
About time Obama taken charge! !! Republicans are destroying AMERICA with their minimum wage c**p!!! Its 15 an hour are shut it down!!! VOTE HILLARY 2016!! Lets continue OBAMAS LEGENCY! !!!!!
Soon it will be target!
Sears had even warning to close stores forgive years – Wall Street should have known that
Not defending obama but Kmart has been closing stores for decades. Sears owns kmart so yeah expect to see closings.
Dem party killing more & more jobs..Wake Up..vote Trump #1…
Who is next on that list of businesses? I see a lot of businesses going up, but when people don’t have work and are on job lines and the like – those businesses aren’t going to last very long. People with no money, don’t buy products period.
What stores are closing.
What were their bathroom policies?