Thursday, June 1, 2017

The Retail Apocalypse keeps apocalypting: 4,229+ stores closing


This Radio Shack Vine pretty much sums it up.

Late last year, the mass of retail stores closing got dubbed The Retail Apocalypse.  The numbers just keep going up.  The best overall list of stores closing is by Clark Howard and his team at clark.com.  This article now lists 4,229 retail stores closing or closed this year.  That doesn't include Gander Mountain, which is having liquidation sales at 126 stores OR Kohl's that plans to downsize about 200 stores.  That list has expanded by 1,000 or more stores in the last couple of months.  Many, many more stores could close before this shakeout hits bottom.  I haven't seen recent numbers on the total people laid off yet by all of this. 

Somehow, in our Dali-esque, Trump-focused universe, the Dow Jones Industrial Average on Wall Street is surging even higher today.  BUT... nearly 40% of millionaires surveyed recently do not plan to invest next month.  That's huge.  They're waiting to see how this insanity in both retail and Washington D.C. will pan out. 

Why am I doing this weird little blog about starting a small business or creating your own job?  Because millions of people are going to have to create their own jobs in the next several years. 

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