November 8, 2019
From 2,000 stores to 182 stores—that’s how much Sears, the storied retailer that also owns Kmart, has shrunk in just 5 years. That’s a reduction of 90%.
Remember when people said the retail apocalypse was over-rated, or over? With the currents affecting Nordstrom, Neimans, Barneys, and Macy’s, I believe that we’re still in the midst of the storm. And, even after these other retailers close, the remaining ones will have to spend $1.50 for every $1 they take in to compete against Amazon. So, will the storm ever end?
Wall St. and pension funds continue to lend money to Amazon at a rate that is 1/10 the rate at which your store can borrow. That’s helping fuel this storm. Our free market system has generated an outcome whereby just a handful of entities are winning, keeping the spoils, and using the proceeds to further swallow up the markets.