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.
lol, its a good thing that businesses like this fade away , they are predatory slave wage places like walmart that are killing the middle class in America . its ok to see dinosaurs that refuse to switch there position on how they run themselves die , remember Woolco, Zayre, they sucked they died America still lived on
Agreed Hal!
W can than the Liberal Democrats for these closings and their Racist, Muslim Leader Obama. I did NOT vote for Obama. and his bad decisions for almost 8 years destroying our Country, No more Liberals in the white house NO Hillary and Bill Clinton and No! Bernie the Communist. Donald Trump for President 2016
On November 17, 2004, Sears announced it was being acquired by Kmart. As a part of the acquisition, Kmart Holdings Corporation would change its name to Sears Holdings. The new corporation announced that it would continue to operate stores under both the Sears and Kmart brands.
If Kmart would act right now they could capitalize on the anti target movement. …..would have to start carrying guns again tho
Thanks Obummer.
If one would go back the last 100 years you will find that in retail, one does get to big, because it is very competitive area of business. Even Walmart is feeling the pinch. Do you see the leaders in government talking about saving K-Mart? No! Why, one must ask? The reason I see is $$$$$$$$. There is more money at risk with financial institutions, automotive industry and oil.
Trump 2016
thank OBAMA…
I have never showed at those stores so