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.
Both stores are too damn high dollar.
Obama will put everyone out of work!
i find that odd since our Kmart does very little business but yesterday i saw a help wanted sign inside the store and their shelves were brimming over with new summer merchandise.
Hal Guzinsky *snort*
It is a real shame that the House and Senate don’t have the guts to stop Obama. They have been rendered impotent by the Dems. There is a civilian revolution on the horizon. With a bit o luck Trump will be true to his word and kick some$#%&!@* put the right people in charge of the military, EPA, and DOJ to fix some of the c**p being perpetrated on the taxpayers of this country.
The Democratic Party has become The Socialist Party. This Presidential Election is actually a prelude to a Civil War. There is no way this country is going to be run by Socialists! The Republican Party has to unite and put an end to this madness! Pick your sides people! You are either a Socialist for Hillary or an American for Trump!
Oh please, quit with the gloom and doom… Sears is closing have because it made a bad gamble on Kmart 15 yrs ago when they bought them out from bankruptcy and complete collapse… now Sears is going down with the sinking ship. They have been closing stores for years because they are failing to keep prices reasonable in the Sears stores and to making Kmart$#%&!@*complicated with outrageous signage, which detours consumers and most Kmart stores are located in the death zones of most cities… just saying this is no suprise.. when Walmart starts shutting down massive amounts of super centers then we need to worry.
Hmmmm
Stop shopping at Walmart,
Walmart in Long Beach CA