Monday, January 20, 2014

The Obama "Recovery" and "The Retail Death Rattle."

"On-line sales account for 6% of total retail sales. If a dying behemoth like JC Penney announces a 20% decline in same store sales and a 20% increase in on-line sales, their total change is still negative 17.6%. And they are still left with 1,100 decaying stores, 100,000 employees, lease payments, debt payments, maintenance costs, utility costs, inventory costs, and pension costs."

3 comments:

DAN III said...

JC Penneys....just one of 10s of thousands of American corporations that embraced free trade. Free trade that sent millions of Americans to the unemployment line while importing product once made in the USA.
One reaps what ones sows.

Screw JC Penneys.

Paul X said...

Yeah, we can't have free trade, can we? Government-controlled trade is clearly better. (snort)

In free enterprise systems, guess what? Companies go out of business. Other companies rise to take their place. It's not too surprising that a company with a 1950's marketing model is having trouble.

Don't like free enterprise? There is no one forcing you to be free. Willing slaves are always in demand.

Anonymous said...

haven't gotten this book yet, but it
comes highly recommended:
Ian Fletcher Free Trade Doesn't
Work