Retail Apocalypse Continues

By: Curtis Wayne   3/8/2019

Last year we saw a record number of retail stores close.  This year they are just getting started. 

After reporting a $2.3 billion loss, compared with a profit of $1.04 billion during the same quarter last year, the Dollar Tree plans to close 390 stores this year and renovate 1000 others.

Consumers are so loaded up on debts, they cannot even show at dollar stores anymore.  The unofficial recession is clearly causing pain in the retail marketplace.

Other retailers like Charlotte Russe recently announced plans to close all of their stores and immediately being to liquidate. 

Many companies have been drawn into taking on too much debt while the Fed keep interest rates at zero for nearly a decade.  Corporate debts cannot be sustained in a recession, the cashflow to service debts does not exist in the recession. 

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