And what happens to the returned goods?
“Shadow margin” is a hot business for brokers. Now they lick their wounds.
$21 billion of debt. Off-balance-sheet entities. Moody’s wakes up, downgrades it four notches, with more to come.
Steinhoff’s “accounting irregularities” crush its stock.
“I think that world is gone,” says Walmart US CEO about the Black Friday “mayhem” of prior years.
Some big sectors are still resisting.
Other sectors are weak too, but one sector is hot.
(Creative) Destruction in the brick-and-mortar meltdown.
It risks running out of money just before the holiday selling season.