The Retail Apocalypse Arriveth

I don’t know what to say. First the mom and pop stores die out, now malls. 😦 Buying and selling on the Internet is becoming the norm.

sentinelblog

From the Daily Reckoning

BY DAVE GONIGAM

Well, well… The S&P 500 is down about half a percent as we write this morning. Which isn’t much in the scheme of things… but it’s the biggest daily drop in a month.

The “retail apocalypse” of which we’ve been saying much this month kicked into high gear this morning. Macy’s (M) delivered its quarterly numbers… and they deposited many feces on the bed.

Earnings were 24 cents a share… way off the “expert consensus” calling for 35 cents a share. Revenue also missed. And same-store sales are down 4.6%, compared with the typical Wall Street analyst’s guess of 2.7%.

At last check, Macy’s shares are down 14% on the day.

But wait! There’s more!

Kohl’s (KSS) delivered an earnings “beat”… but missed on revenue. And same-store sales dropped 2.7%, compared with expectations of 1.2%.

Gone are the days when Kohl’s could thrive…

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About Kenneth T.

My blog, My way Welcome to a little piece of my life. Here you will find things concerning my everyday experiences and or my thoughts on everyday happenings. For instance you may find thoughts of my Farmstead, which is as my wife calls it, our Accidental Farming life. Perhaps on a whim, I might just jump on a soap box about what's going on with my crazy family (the immediate one, that is).~You don't need to put a penny in the coin slot for any commentary there~ You may find, new additions to what I call "Hobby-time". Ahh yes, my hobby... I make pinback buttons (some call them badges). Sorry for the shameful plug ;-) *** And then there is the outside the box or "Offtrack" thinking, part of me. Which can be anything else from aliens to the zoology of the Loch Ness monster, but will probably be more mundane as health concerns, for instance, to vaccinate or not. Is the Earth Flat or is it Hollow? Is there a dome? Is any of it real? Do you really want to know? Police brutality and the continuing corruption of established government, Big Business, Big Oil, Big Brother. Can we survive? Should we survive? The coming montrary collapse. There is so much going on, more then we see outside our windows.
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