ckf Posted June 8, 2016 Share Posted June 8, 2016 Layoffs in aisle 4! Retailers are big job killers Pink is the most fashionable color in retail these days. Unfortunately, that's pink as in pink slips. Ralph Lauren (RL) was the latest big brand name consumer company to announce layoffs, saying on Tuesday that it was looking to cut about 1,200 jobs -- 8% of its full-time workforce. That news follows recent layoff announcements from Macy's (M), Nordstrom (JWN) and Walmart (WMT). Several other retailers -- including Gap (GPS), Sears (SHLD) and J.C. Penney (JCP) -- have announced plans to shut stores, which could lead to even more retail employees being let go. And then there are the bankruptcies. Pacific Sunwear and Aeropostale both filed for Chapter 11 protection in the past few months. And Sports Authority is going out of business. Much of the pain in retail is due to the upheaval in the apparel industry. According to data from the U.S. government, nearly 13,000 jobs have been lost at clothing and clothing accessories stores in the past three months. Fast fashion upstarts are making life more difficult for some of the older mall-based stalwarts. Related: America's top 10 job-killing companies And more than 38,000 job cuts have been announced in the overall retail sector so far this year, according to data from job placement firm Challenger, Gray & Christmas. That's a nearly 40% increase from this time a year ago. Only the energy sector has announced more layoffs this year, as low crude prices continue to cause turmoil at oil companies. Credit Suisse analysts estimated in April that this could be the worst year for retail layoffs since 2010. Still, there are some bright spots for retail workers. Furniture and home furnishings retailers have added jobs. So have building material and garden equipment stores. The strong housing market is the reason for that. Home Depot (HD) and Lowe's (LOW) both recently reported solid earnings and sales. Related: U.S. job creation weak, even as unemployment rate continues to fall Car dealers and auto parts stores are counted as being part of the retail sector by the government too. Those industries have also been adding jobs. Despite disappointing auto sales last month, retailers like Advance Auto Parts (AAP), Autozone (AZO) and O'Reilly (ORLY) have held up reasonably well. But the unemployment rate for the retail sector -- while down from the beginning of the year -- is still 5.4%. That's higher than the overall unemployment rate of 4.7%. This may be yet another sign of the rise of Amazon (AMZN, Tech30) -- and the impact that online/mobile shopping is having on brick-and-mortar retailers in general. The so-called nonstore retail sector, a group tracked by the government that includes e-commerce, mail order catalogs and TV infomercials, has added nearly 5,000 jobs so far this year. Quote Link to comment Share on other sites More sharing options...
Pink is the most fashionable color in retail these days. Unfortunately, that's pink as in pink slips. Ralph Lauren (RL) was the latest big brand name consumer company to announce layoffs, saying on Tuesday that it was looking to cut about 1,200 jobs -- 8% of its full-time workforce. That news follows recent layoff announcements from Macy's (M), Nordstrom (JWN) and Walmart (WMT). Several other retailers -- including Gap (GPS), Sears (SHLD) and J.C. Penney (JCP) -- have announced plans to shut stores, which could lead to even more retail employees being let go. And then there are the bankruptcies. Pacific Sunwear and Aeropostale both filed for Chapter 11 protection in the past few months. And Sports Authority is going out of business. Much of the pain in retail is due to the upheaval in the apparel industry. According to data from the U.S. government, nearly 13,000 jobs have been lost at clothing and clothing accessories stores in the past three months. Fast fashion upstarts are making life more difficult for some of the older mall-based stalwarts. Related: America's top 10 job-killing companies And more than 38,000 job cuts have been announced in the overall retail sector so far this year, according to data from job placement firm Challenger, Gray & Christmas. That's a nearly 40% increase from this time a year ago. Only the energy sector has announced more layoffs this year, as low crude prices continue to cause turmoil at oil companies. Credit Suisse analysts estimated in April that this could be the worst year for retail layoffs since 2010. Still, there are some bright spots for retail workers. Furniture and home furnishings retailers have added jobs. So have building material and garden equipment stores. The strong housing market is the reason for that. Home Depot (HD) and Lowe's (LOW) both recently reported solid earnings and sales. Related: U.S. job creation weak, even as unemployment rate continues to fall Car dealers and auto parts stores are counted as being part of the retail sector by the government too. Those industries have also been adding jobs. Despite disappointing auto sales last month, retailers like Advance Auto Parts (AAP), Autozone (AZO) and O'Reilly (ORLY) have held up reasonably well. But the unemployment rate for the retail sector -- while down from the beginning of the year -- is still 5.4%. That's higher than the overall unemployment rate of 4.7%. This may be yet another sign of the rise of Amazon (AMZN, Tech30) -- and the impact that online/mobile shopping is having on brick-and-mortar retailers in general. The so-called nonstore retail sector, a group tracked by the government that includes e-commerce, mail order catalogs and TV infomercials, has added nearly 5,000 jobs so far this year.
GGNHL Posted June 8, 2016 Share Posted June 8, 2016 We're on the brink of another recession. You can only give the middle class so much debt before they cant service it any longer. Maybe the next recovery we'll actually have real economic growth instead of just having it on paper driven by endlessly printing money... 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted June 8, 2016 Share Posted June 8, 2016 Amazon and online retailers are killing big box stores. Quote Link to comment Share on other sites More sharing options...
02sled Posted June 8, 2016 Share Posted June 8, 2016 It seems that studies have shown that the puppies are going to the retail store to touch and feel the product to make a decision then buying online to save a couple of bucks. I wonder what will happen if they don't have the retail store to actually go and see the product first hand. I can't imagine buying for example living room furniture online without actually seeing it other than an online picture. Quote Link to comment Share on other sites More sharing options...
Momorider Posted June 8, 2016 Share Posted June 8, 2016 9 minutes ago, Anler said: Amazon and online retailers are killing big box stores. Cuz they don't pay taxes and are gaming the system, Trump will fix that one Quote Link to comment Share on other sites More sharing options...
1jkw Posted June 8, 2016 Share Posted June 8, 2016 40 minutes ago, Anler said: Amazon and online retailers are killing big box stores. Yes they are, and wait until they go full into the auto parts business. Quote Link to comment Share on other sites More sharing options...
1jkw Posted June 8, 2016 Share Posted June 8, 2016 38 minutes ago, 02sled said: It seems that studies have shown that the puppies are going to the retail store to touch and feel the product to make a decision then buying online to save a couple of bucks. I wonder what will happen if they don't have the retail store to actually go and see the product first hand. I can't imagine buying for example living room furniture online without actually seeing it other than an online picture. I can't see buying a couch without sitting on it but people do it all the time. Quote Link to comment Share on other sites More sharing options...
sledder10 Posted June 8, 2016 Share Posted June 8, 2016 59 minutes ago, Anler said: Amazon and online retailers are killing big box stores. Not helping that is for sure. 55 minutes ago, 02sled said: It seems that studies have shown that the puppies are going to the retail store to touch and feel the product to make a decision then buying online to save a couple of bucks. I wonder what will happen if they don't have the retail store to actually go and see the product first hand. I can't imagine buying for example living room furniture online without actually seeing it other than an online picture. 16 minutes ago, 1jkw said: I can't see buying a couch without sitting on it but people do it all the time. Yep no way I am buying a couch or chair without sitting on it..too many are all about style and are not comfortable at all. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 This is not a sign of a recession. Consumer spending is up and credit use is down. Americans are spending cash for sure. On line retail is killing brick and mortar stores. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 2 hours ago, sledder10 said: Not helping that is for sure. Yep no way I am buying a couch or chair without sitting on it..too many are all about style and are not comfortable at all. Its why Best Buy survived as just about the only retailer of its kind. Shoppers visit find what they like and surf the net for the lowest price. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted June 8, 2016 Share Posted June 8, 2016 2 hours ago, GGNHL said: We're on the brink of another recession. You can only give the middle class so much debt before they cant service it any longer. Maybe the next recovery we'll actually have real economic growth instead of just having it on paper driven by endlessly printing money... You got that out of upstarts and on-line buying like Amazon.............. Quote Much of the pain in retail is due to the upheaval in the apparel industry. According to data from the U.S. government, nearly 13,000 jobs have been lost at clothing and clothing accessories stores in the past three months. Fast fashion upstarts are making life more difficult for some of the older mall-based stalwarts. This may be yet another sign of the rise of Amazon (AMZN, Tech30) -- and the impact that online/mobile shopping is having on brick-and-mortar retailers in general. The so-called nonstore retail sector, a group tracked by the government that includes e-commerce, mail order catalogs and TV infomercials, has added nearly 5,000 jobs so far this year. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted June 8, 2016 Share Posted June 8, 2016 1 hour ago, sledder10 said: Not helping that is for sure. Yep no way I am buying a couch or chair without sitting on it..too many are all about style and are not comfortable at all. How old are you? The reason I ask is because 20-35 years olds are buying many couches without sitting on them, time stands still for no one. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted June 8, 2016 Share Posted June 8, 2016 19 minutes ago, Mainecat said: This is not a sign of a recession. Consumer spending is up and credit use is down. Americans are spending cash for sure. On line retail is killing brick and mortar stores. U.S. economy grew at anemic 0.2% pace in Q1 Paul Davidson, USA TODAY 7 p.m. EDT April 29, 2015 The economy slowed significantly in the first quarter as cold weather, a strong dollar and shipping snags dampened activity. Gross domestic product — the value of goods and services produced in the U.S. — expanded at a seasonally adjusted annual rate of 0.2% in first quarter, the Commerce Department said Wednesday. That's down from 2.2% in the fourth quarter. The report was the government's first estimate of first-quarter GDP. Two revised estimates, based on more complete data, will be published in May and June. First-quarter growth was substantially less than the 1% expected by economists surveyed by Action Economics. STOCKS WEDNESDAY: How markets are doing Analysts say the slowdown largely reflects temporary factors, such as harsh weather and a labor dispute at West Coast ports that hampered exports and delayed deliveries to factories and retailers. Other economic headwinds could linger, including a strong dollar that's making U.S. goods more expensive for foreign buyers and a pullback in energy company investment amid a plunge in oil prices. Business investment, for example, fell 3.4% after increasing 4.4% in the previous quarter as the muscular greenback dented manufacturers' sales. And investment in non-residential structures plunged 23.1% in the quarter, in large part a consequence of the oil price slump, as energy companies sharply reduced the number of oil drilling rigs. Exports dropped 7.2% as manufacturers lost sales to other countries with more favorable currency exchange rates. Consumer spending, which makes up more than two-thirds of economic activity, also slowed, growing 1.9% compared with 4.4% in the fourth quarter. And government spending declined 0.8% as defense and state and local outlays all fell. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 8, 2016 Platinum Contributing Member Share Posted June 8, 2016 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 1 hour ago, snoughnut said: U.S. economy grew at anemic 0.2% pace in Q1 Paul Davidson, USA TODAY 7 p.m. EDT April 29, 2015 The economy slowed significantly in the first quarter as cold weather, a strong dollar and shipping snags dampened activity. Gross domestic product — the value of goods and services produced in the U.S. — expanded at a seasonally adjusted annual rate of 0.2% in first quarter, the Commerce Department said Wednesday. That's down from 2.2% in the fourth quarter. The report was the government's first estimate of first-quarter GDP. Two revised estimates, based on more complete data, will be published in May and June. First-quarter growth was substantially less than the 1% expected by economists surveyed by Action Economics. STOCKS WEDNESDAY: How markets are doing Analysts say the slowdown largely reflects temporary factors, such as harsh weather and a labor dispute at West Coast ports that hampered exports and delayed deliveries to factories and retailers. Other economic headwinds could linger, including a strong dollar that's making U.S. goods more expensive for foreign buyers and a pullback in energy company investment amid a plunge in oil prices. Business investment, for example, fell 3.4% after increasing 4.4% in the previous quarter as the muscular greenback dented manufacturers' sales. And investment in non-residential structures plunged 23.1% in the quarter, in large part a consequence of the oil price slump, as energy companies sharply reduced the number of oil drilling rigs. Exports dropped 7.2% as manufacturers lost sales to other countries with more favorable currency exchange rates. Consumer spending, which makes up more than two-thirds of economic activity, also slowed, growing 1.9% compared with 4.4% in the fourth quarter. And government spending declined 0.8% as defense and state and local outlays all fell. Last tuesday is was down........Jesus in the last year its up. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 1 hour ago, Mileage Psycho said: How old are you? The reason I ask is because 20-35 years olds are buying many couches without sitting on them, time stands still for no one. Wayfair...free delivery on furniture Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 1 hour ago, SnowRider said: Yeah its horrible Quote Link to comment Share on other sites More sharing options...
GGNHL Posted June 8, 2016 Share Posted June 8, 2016 44 minutes ago, Mainecat said: This is not a sign of a recession. Consumer spending is up and credit use is down. Americans are spending cash for sure. On line retail is killing brick and mortar stores. 33 minutes ago, Mileage Psycho said: You got that out of upstarts and on-line buying like Amazon.............. 20 minutes ago, snoughnut said: U.S. economy grew at anemic 0.2% pace in Q1 Paul Davidson, USA TODAY 7 p.m. EDT April 29, 2015 The economy slowed significantly in the first quarter as cold weather, a strong dollar and shipping snags dampened activity. Gross domestic product — the value of goods and services produced in the U.S. — expanded at a seasonally adjusted annual rate of 0.2% in first quarter, the Commerce Department said Wednesday. That's down from 2.2% in the fourth quarter. The report was the government's first estimate of first-quarter GDP. Two revised estimates, based on more complete data, will be published in May and June. First-quarter growth was substantially less than the 1% expected by economists surveyed by Action Economics. STOCKS WEDNESDAY: How markets are doing Analysts say the slowdown largely reflects temporary factors, such as harsh weather and a labor dispute at West Coast ports that hampered exports and delayed deliveries to factories and retailers. Other economic headwinds could linger, including a strong dollar that's making U.S. goods more expensive for foreign buyers and a pullback in energy company investment amid a plunge in oil prices. Business investment, for example, fell 3.4% after increasing 4.4% in the previous quarter as the muscular greenback dented manufacturers' sales. And investment in non-residential structures plunged 23.1% in the quarter, in large part a consequence of the oil price slump, as energy companies sharply reduced the number of oil drilling rigs. Exports dropped 7.2% as manufacturers lost sales to other countries with more favorable currency exchange rates. Consumer spending, which makes up more than two-thirds of economic activity, also slowed, growing 1.9% compared with 4.4% in the fourth quarter. And government spending declined 0.8% as defense and state and local outlays all fell. I mean this isn't a crazy idea, we've had years of economic growth based on debt, eventually all economic growth cycles are met by recession. The job numbers are trending way down. We'll see if it rebounds by later in the year but I highly doubt it as many economic experts have been expecting 2016 will be the start of the next global recession. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 8, 2016 Share Posted June 8, 2016 4 minutes ago, GGNHL said: many economic experts have been expecting 2016 will be the start of the next global recession. Hillary will just blame Bush. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 8, 2016 Platinum Contributing Member Share Posted June 8, 2016 Freightliner is laying off 800 in NC. Anyone who thinks the economy is strong is kidding themselves. http://www.msn.com/en-us/money/companies/freightliner-laying-off-about-800-workers/ar-BBtVFna Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 8, 2016 Share Posted June 8, 2016 1 hour ago, Highmark said: Freightliner is laying off 800 in NC. Anyone who thinks the economy is strong is kidding themselves. http://www.msn.com/en-us/money/companies/freightliner-laying-off-about-800-workers/ar-BBtVFna I have never in my life seen so many hi rise cranes operating in Boston. Its amazing the development going on there. Someone better let them know the economy sucks. Quote Link to comment Share on other sites More sharing options...
GGNHL Posted June 8, 2016 Share Posted June 8, 2016 Just now, Mainecat said: I have never in my life seen so many hi rise cranes operating in Boston. Its amazing the development going on there. Someone better let them know the economy sucks. Well thank god Boston and Shit-cago are booming. Job numbers and economic data be damned. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 8, 2016 Platinum Contributing Member Share Posted June 8, 2016 (edited) 2 minutes ago, Mainecat said: I have never in my life seen so many hi rise cranes operating in Boston. Its amazing the development going on there. Someone better let them know the economy sucks. So one segment of the economy in a few cities means the economy is good? People brag how mfg is the heart of our economy. http://www.cnbc.com/2016/01/21/for-the-us-economy-bad-news-is-actually-bad-news.html The Philadelphia Fed's manufacturing index registered a negative reading at -3.5, confirming that the sector on a national level is in a recession. Worse, the six-month forward outlook in the survey hit 19.1, its lowest point since November 2012, as did the employment component. While manufacturing is just 12 percent or so of the U.S. economy, contraction in the sector has been "very predictive of underlying turning points in the broader economy," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank. Recent optimism over the jobs outlook was tempered by a rise in weekly jobless claims to their highest level in six months. That came on top of data earlier in the week showing the economy is still not generating a healthy inflation level, some 6 ½ years after the end of the Great Recession. Edited June 8, 2016 by Highmark Quote Link to comment Share on other sites More sharing options...
Im4snow Posted June 8, 2016 Share Posted June 8, 2016 48 minutes ago, Mileage Psycho said: How old are you? The reason I ask is because 20-35 years olds are buying many couches without sitting on them, time stands still for no one. I see it in my customer's 40 and younger. Purchasing online is the standard. It's not just price, it's a time saving strategy. Although it's amazing how many people assume they're truly comparing apples to apples when in fact they're not....regarding purchasing something like a plumbing fixture online. Some people understand the difference between price and cost, other's never will. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted June 8, 2016 Share Posted June 8, 2016 19 minutes ago, Mainecat said: I have never in my life seen so many hi rise cranes operating in Boston. Its amazing the development going on there. Someone better let them know the economy sucks. I just showed you the facts and in 2016 the economy does indeed suck. Quote Link to comment Share on other sites More sharing options...
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