I penned the paragraph below a couple weeks ago. Since then, Sears/Kmart has been announcing closings across the land. Today it is being confirmed that Radio Shack will be shuttering 500 more stores, after shuttering 500 last year. Only 6,000 more to go. This was so predictable, a BLS economist could have seen it coming. Of course, Jim Cramer says it’s a buy.
“Quarter after quarter there will be more announcements of store closings. Macys just announced the closing of 5 stores and firing of 2,500 retail workers. JC Penney just announced the closing of 33 stores and firing of 2,000 retail workers. Announcements are imminent from Sears, Radio Shack and a slew of other retailers who are beginning to see the writing on the wall. The vacancy rate will be rising in strip malls, power malls and regional malls, with the largest growing sector being ghost malls. Before long it will appear that SPACE AVAILABLE is the fastest growing retailer in America.” – Famous Retail Guru – Admin – The Retail Death Rattle – 1-14-14
One year ago I wrote an article called Disastrous Results, detailing the coming bankruptcy of Radio Shack.
The chickens are coming home to roost. There will be 500 more vacant shells in malls across America. Liquidation is in the foreseeable future. Book it Dano.