I lot of these places that are closing mostly only sell items that you can buy at WalMart for a lot less. Plus, I'm guessing that a lot of these stores are closing in locations where shoplifting is not prosecuted, and the lease was up.
This is called journalism today
- Thread starter Finklejag
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retail itself is dying, as is people who have money. When the dollar stores are going to cater to the people with money, that should tell you something. Companies on the street are very, very close to becoming “real” with the current market. Just don’t look at your 401k for a while……
Pharmacies are catching up to be overpriced. To save money, almost all health plans will be getting stuff mail ordered/online/ china. Nor profit in your lava tech doing it.
Family Dollar: junk stores
Macy’s, Foot Locker: can’t complete with online/ china knockoffs >Don’t care if you have a lucky survivor in a nice area. Malls are dead.
Big Lots: no one can run that company right. Most likely end up like Bed, Bath and Beyond.
TJX, Burlington: will feel it even more as folks run out of money with everything going up.
If we live in a time where all these stores have to cut to survive, times are not looking good……
Kinda of true. We don’t have mass looting here either, but they are closing quite a bit anyways……
Many, if not all, insurance companies are pushing policyholders into mail order prescription plans, always through a PBM, to ensure they get ALL the money, and not have to share any of it with any drugstore. I have a diabetic medication (Farxiga) that I get at no charge, using a discount card, at Walgreens. Every month I get an email from Express Scripts asking if I want to "save money on it"! I don't think they're going to PAY ME to take it!
All the big chains in questionable areas are closing here. Might have something to do with the police not even showing up for theft & shoplifting calls...
Yeah but mail order doesnt work for illnesses that require medication immediately.Many, if not all, insurance companies are pushing policyholders into mail order prescription plans, always through a PBM, to ensure they get ALL the money, and not have to share any of it with any drugstore. I have a diabetic medication (Farxiga) that I get at no charge, using a discount card, at Walgreens. Every month I get an email from Express Scripts asking if I want to "save money on it"! I don't think they're going to PAY ME to take it!
It also doesnt work in very hot climates if you are concerned about heat damage in transit and/or sitting in your mail kiosk under the blazing sun all day long, possibly for days if you are not home.
There will always be drug stores but I suspect moving forward the current version is a dinosaur. But that goes for everything.
I've had insulin show up in a cooler with ice packs before, but I could get a better price on it locally. The day is coming where one isn't going to have a choice...
Yes Big Pharma is playing pharmacies like Nero played his fiddle!
Amazing that someone who doesn’t like a news article supports the news article by giving them more clicks.
I don't know if this is true, but read somewhere that Sears closed and sold off its stores because most of them were built in post-war inner suburbs, on what became extremely valuable land.
The operating profit of the retail stores could not compete with the lump sum value of the real estate.
I would agree, but expect it to cost a lot more……
Stephanie Pomboy (economist and analyst) said recently that retail sales, when adjusted for inflation, are negative for the last 3 years and getting worse. Makes sense, given latest retail sales growth was 1.44% but core inflation is 3.2%, so that would be real decline of 1.76%.
Likely explains some of it.
Likely explains some of it.
Covid cash gone = lower retail sales.
The economy is slowing and many folks are cash poor….. everything on credit.
You know it’s bad when Big Lots is having trouble selling discounted merchandise.
I’m still upset I did NOT get 1 penny of stimulus cash while some were getting $1000 a week to stay home and shop online to keep the GDP humming along.
I paid the most ever in taxes the year of Covid 2020.
*** Edit ***
With crazy inflation, more and more people across this country are cash poor and struggling to keep up with the cost of living.
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The pittance they paid to individuals was dwarfed by the forgivable PPP loans and the "employee retention credit" that ran all the way through 2023, and had everyone putting aunts, uncles, cousins and even Granny on the payroll to collect. A very good friend of mine runs a small business and tells me those programs were ridiculously lucrative for him. Maybe they made sense in 2020, but didn't beyond that but were continued. That is not even counting the billions handed out to states.
https://www.irs.gov/coronavirus/fre...y for ERC, you,local, state or federal level.
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For my wife and I our health plans have preferred physical drug stores with the same pricing as mail order. I suspect it will always be that way.
Of the few prescriptions we do have, most all are free to us Tier 1 drug prescriptions that we take all year. On occasion we could have a short term tier 2 at a cost of $6
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Yeah, my wife was furloughed for a couple months. Thanks to our fellow taxpayers I dont think she gave up a penny in pay.Covid cash gone = lower retail sales.
The economy is slowing and many folks are cash poor….. everything on credit.
You know it’s bad when Big Lots is having trouble selling discounted merchandise.
I’m still upset I did NOT get 1 penny of stimulus cash while some were getting $1000 a week to stay home and shop online to keep the GDP humming along.
I paid the most ever in taxes the year of Covid 2020.
*** Edit ***
With crazy inflation, more and more people across this country are cash poor and struggling to keep up with the cost of living.
Company still paid her health insurance and vacation pay until she returned to work. We actually kept our vacation schedule that year.
I dont see the economy slowing here. I assume it must as personal debt increases. We are just a bit isolated from that here. Much of the coastal area is retirement income anyway.
The good news the economy has to slow and exactly what the Fed is hoping for. All I know is across this land companies are looking for people willing to work.
Get this, keeping in mind we are a retirement area, still, even the Postal Service is having a hard time with staffing. I mean, Postal Jobs, fair pay, amazing benefits, sustainable income. Paid National Holidays! *LOL* If things are so bad. Why did we get "Now Hiring" post card in the mailbox yesterday from the USPS? I never saw this in my (so far) long lifetime! USPS canvassing for job applicants!
Like I say, life has never been more easy in the USA. If I wanted a simple job and go back to work, how can you lose? Click and you have a sustainable job, if you're a young person even more than that. Literally have a job in minutes. I hate to repeat myself, never having seen anything like this in my mailbox shows me, it's the sign of the times. Many do not want jobs, they want to complain.
At one time, it would have been impossible to work here unless someone got word to you from a friend or family before the position opened up. Now they are searching for people who want to work.
(which leads me to another subject for another time regarding people who think they can not afford a house. Great video and I have seen it first hand even 2 decades ago in my real estate practice. the change in the buyers)
The flipside to that situation are all the stores which they've stubbornly clung to and kept open for years, in blighted neighborhoods or in dying malls, typically because they own the property vs. lease it. I suppose whatever they decide to do, like they say it "follows the money". All a moot point now since I think almost all of them are closed now.
As a retired journalist, I have to agree that print journalism in particular is on life support. People are cheap and don't feel a need to support any meaningful effort to collect information and put it in a readible form. Clicks at 0.5 cents a pop isn't going to cover it. The biggest loss is to news reporting at the local level. Municipal and school board government affects our lives to a greater degree than any other level, and much of what goes on is never reported.
I remember a suburban city manager lamenting that the paper didn't cover their proceedings anymore. He wanted people to know what they were doing so they wouldn't be blindsided by some issue they had to address. But the paper couldn't afford to provide the coverage, plain and simple.
In addition, a lot of people don't really like to read, so they rely on TV. Broadcast journalism has always been pretty superficial, particularly the local news, which relies on a "if it bleeds, it leads" mentality. No wonder people are scared of their own shadows.
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Despite what the oil changing MBA’s will juxtapose - they will never consider Sears was once in the absolute best areas - but poor city management destroyed not just safety for the shopper - but wiped out the asset value of prime property …
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