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Why the Retail Apocalypse Has Only Just Begun…
caseyresearch.com / By Justin Spittler / March 24, 2017
One of the world’s most iconic retailers is on its deathbed.
Sears is one of America’s oldest companies. It opened its first store in 1886, five years before the zipper was invented.
The company later pioneered the mail-order catalog business. At one point, it was also the world’s biggest retailer.
Those were the good ol’ days. But they’re never coming back.
Just look at this chart. You can see that Sears Holdings Corp. (SHLD) has plunged more than 90% over the last decade. That’s a staggering decline.
Anyone could look at this chart and tell you Sears is finished.
But the company didn’t officially admit this until a few days ago. On Wednesday, Sears management shared its dire outlook in the company’s latest annual report:
Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern.
In other words, management just admitted what everyone else has been saying for years.
The post Why the Retail Apocalypse Has Only Just Begun… appeared first on Silver For The People.
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