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.
$15.00 per hour right?
Welcome to Obammo Land
I see the economy is great as t he dems lies
More of Obamas doing he has done such a f##king good job
A better story would tell us WHY they are closing!
The democrats are taxing businesses to death–they think they are Robin Hood by taking their profits and handing out more freebees. Without making profits, why bother staying in business? Gosh, politicians have no common sense.
David, your way of thinking is part of the problem.
You really don’t have a clue, David! Want more businesses to fail? More people on welfare? Another trillion in debt? Keep voting for those democrats.
Only took Obama 8 years
Economy crumbling around the country. Watch for banks to close and ATMS out. Its about to get a lot worse before the election. Watch and see.