Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

DemocratSinceBirth

(99,705 posts)
Mon Apr 10, 2017, 08:46 AM Apr 2017

What is Chump doing to save the battered retail sector?






The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store -- a symbol of old-fashioned luxury that no longer resonates with today’s shoppers.

And the teen-apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.

https://www.bloomberg.com/news/articles/2017-04-07/stores-are-closing-at-a-record-pace-as-amazon-chews-up-retailers
9 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
What is Chump doing to save the battered retail sector? (Original Post) DemocratSinceBirth Apr 2017 OP
Also HHGregg just announced it is closing down. femmocrat Apr 2017 #1
He's probably investing in Amazon... dchill Apr 2017 #2
Trump and his grifter spawn(s) can help IdiotsforPalin Apr 2017 #3
Trump doesn't get his gold bathroom fixtures from these places. lpbk2713 Apr 2017 #4
In response to the devastation of the retail industry, Trump is ruining the travel industry. But, Squinch Apr 2017 #5
Probably nothing. Dulcinea Apr 2017 #6
Simple, nothing. rogue emissary Apr 2017 #7
Not a flippin' thing, clearly. MANative Apr 2017 #8
He's having a sale on ties Runningdawg Apr 2017 #9

femmocrat

(28,394 posts)
1. Also HHGregg just announced it is closing down.
Mon Apr 10, 2017, 08:53 AM
Apr 2017

Sears will probably be next.

As for drumpf, he could echo W and tell everyone to keep calm and go shopping!

He will probably blame the decline of retail on the boycott of Ivanka's clothing line.

lpbk2713

(42,696 posts)
4. Trump doesn't get his gold bathroom fixtures from these places.
Mon Apr 10, 2017, 09:17 AM
Apr 2017



So he really doesn't care what happens to them.

Squinch

(50,773 posts)
5. In response to the devastation of the retail industry, Trump is ruining the travel industry. But,
Mon Apr 10, 2017, 09:27 AM
Apr 2017

hey, there are going to be 9 new coal jobs at the end of his tenure!

Dulcinea

(6,507 posts)
6. Probably nothing.
Mon Apr 10, 2017, 09:36 AM
Apr 2017

But, I'm sure it has a lot to do with the fact that shopping sucks these days. I took my daughters shopping for clothes at a well-known retail chain last weekend. There weren't enough cash registers open, so we had to wait half an hour just to pay. The store wasn't all that crowded, either. There were just very few employees in the store. When you factor in the time it takes to get to the shopping center, parking, gas, & the time spent waiting in line to pay, it's just so much easier and quicker to shop online.

rogue emissary

(3,147 posts)
7. Simple, nothing.
Mon Apr 10, 2017, 09:41 AM
Apr 2017

I've wondered why some jobs like coal mining and non-specific manufacturing jobs are the only ones we're supposed to care about.

MANative

(4,105 posts)
8. Not a flippin' thing, clearly.
Mon Apr 10, 2017, 10:01 AM
Apr 2017

I've worked in retail (corporate) and wholesale for over thirty years in NYC, and have several close friends who work(ed) for Ralph Lauren, including my current CEO, who was a senior exec with them until about eight years ago. They are all beyond stunned that "the mansion" is closing. It's a gut-punch.

Sears doesn't have more than six months, at best, KMart being dragged along with them, is the word around town.

I've been counseling all my clients who work in brick-and-mortar retail to make the shift into the e-tailing sector sooner rather than later.

Latest Discussions»General Discussion»What is Chump doing to sa...