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IPFS News Link • Economy - Economics USA

What Recovery? Sears And J.C. Penney Are DYING

•, By Michael Snyder
 Sears and J.C. Penney are both losing hundreds of millions of dollars each quarter, and both of them appear to be caught in the grip of a death spiral from which it will be impossible to escape.  Once upon a time, Sears was actually the largest retailer in the United States, and even today Sears and J.C. Penney are "anchor stores" in malls all over the country.  When I was growing up, my mother would take me to the mall when it was time to go clothes shopping, and there were usually just two options: Sears or J.C. Penney.  When I got older, I actually worked for Sears for a little while.  At the time, nobody would have ever imagined that Sears or J.C. Penney could go out of business someday. But that is precisely what is happening.  They are both shutting down unprofitable stores and laying off employees in a desperate attempt to avoid bankruptcy, but everyone knows that they are just delaying the inevitable.  These two great retail giants are dying, and they certainly won't be the last to fall.  This is just the beginning.

1 Comments in Response to

Comment by Dennis Treybil
Entered on:

Sure Sears is dying.  My Dad was in the hospital right across from a Sears store in 2010.  He ran out of drawers.  I went to Sears to get him some, since I could walk there.  A package of 3 drawers was $15 - just plain, vanilla drawers.  You could get 6 drawers for 7 bucks at Walmart . . .

So yeah, Sears is dying.

DC Treybil