The ingenious strategy of cost-cutting and store-closing your way out of trouble: Pretty soon, it leads to zero.
With a tinge of bitter irony and perhaps desperation.
“Rising household debt load” to “suppress consumption, including eating out.”
Even the biggest.
As so many times, Private Equity firms are in the thick of it.
From bad to worse, hammered by retail sales and inflation.
This thermometer for discretionary spending is the first to react when consumers hit their limits.
“Fake prices,” metastasizing derivatives, bloodletting among retailers, the Snap IPO that turns stockholders into zombies, China’s credit bubble that makes even the New York Fed jittery… (video).
What does inflation have to do with it?
I’ve been doom-and-gloom on brick-and-mortar retail. But I haven’t been nearly doom-and-gloom enough, given the events of the past seven days. Includes my interview with The Financial Exchange, WRKO Boston.