Spreading the truth. Empowering the people.
By Wolf Richter for WOLF STREET: Macy’s announced today that it would lay off “the majority” of its 123,000 employees after it had closed all its Macy’s, Bloomingdale’s and Bluemercury stores on March 18. Even … Read more
What’s astounding many people: ecommerce growth is not leveling off, but keeps surging at blistering rates. By Wolf Richter for WOLF STREET. Ecommerce retail sales jumped 16.4% in the fourth quarter 2019 compared … Read more
by Martin Armstrong QUESTION: Sir, My daughter works at a brick and mortar pet smart store as a 33 hour per week employee. She told my wife that PetSmart bought the … Read more
Ticket sales plunged 31% per person on average since 2002. You can raise ticket prices only so much before the strategy backfires. By Wolf Richter for WOLF STREET. There are many ways to … Read more
Even in San Francisco: From a brand-new glitzy zombie mall to innumerable vacant storefronts. By Wolf Richter for WOLF STREET. Mall investors have long denied it. But year after year, ecommerce has been … Read more
Wow, that was fast: In default is a $650 million portion of a $2 billion loan package, signed in 2018. By Wolf Richter for WOLF STREET. “20 Times Square,” a newly built tower … Read more
By Patrick Watson Until about 50 years ago, people paid attention to the area where they lived. They read local papers, shopped at local merchants, and socialized at local events. … Read more
by John W. Whitehead “The exile of prisoners to a distant place, where they can ‘pay their debt to society,’ make themselves useful, and not contaminate others with their ideas or … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Store liquidations in 2019 have blown past the full-year record set in 2018. The phenomenon of the Brick-and-Mortar Meltdown is proceeding with relentless momentum, trailing in its wake … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Ecommerce and the globalization of retail crush distribution channels, wholesalers, local retailers, large retailers, prices, and margins. Transcript of my podcast on Sunday. You can listen to my podcasts … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Retail space asking rents plunge as landlords try to fill scores of vacant shops. The average asking rent on Madison Avenue between 57th Street and 72nd … Read more
via Mark Hanson RedFin puts out a monthly home sales report, which contains a lot of great data. The chart below shows Feb 2018 year-over-year price growth, which was off the … Read more
via businessinsider: Gap, JCPenney, and Victoria’s Secret announced more than 300 store closures over the course of 24 hours this week. All three companies reported declining same-store sales during the critical holiday period. Tesla … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “I prefer not to scare you at this point, okay. But it’s something that we’ve been able to withstand”: CEO David Simon. Mall-landlord Simon Property Group … Read more
But online sales are hot, now at 20% of total retail. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. It’s a confusing picture. A monthly survey of retailers published … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Tickets are expensive. Alternatives are plentiful, convenient & cheap. The year 2018 was a banner year for the movie theater industry in the US. The … Read more