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.
This is all part of one worlders agenda, redistribute wealth and take over!!!!
Destroying jobs!
Our country is crumbling around us and there are those that think Obama saved us what world are they living in?
This is the begining of the fall of Capitolism and that is what Obama and the UN have in mind for America. This is the only way they can push for that New World Order plan that has been in the making for many years now.
This is the obamanation. You Democrats must be very proud of your recent voting decisions. Wake up this time around.
You can thank the minimum wage mandatory raises for putting unskilled workers out of work and on welfare-the only raises should be based on merit-including the government
Intel got rid of 12,000 employees in order to hire foreign workers-down with Intel
Jeff figures don’t lie, but liars figure…
Want more $15.00 per hour?
Let’s make the minimum wage $25 an hour, and run even more businesses out of business.