Retail

Overindebted Out-of-Cash Sleep Number Blames Consumers for Results of Years of Mismanagement. Shares Collapsed 92% from Peak Consensual Hallucination

by Wolf Richter • Nov 8, 2023 • 125 Comments

This is the kind of chart my pantheon of Imploded Stocks is full of, driven by what I call “consensual hallucination” that then vanished.

Our Drunken Sailors Now Guzzling Directly from Punch Bowl: Powell, You Looking? Splurging Online, at Restaurants & Auto Dealers. YOLO

by Wolf Richter • Oct 17, 2023 • 148 Comments

Consumers still on a buying binge at retailers, fired up by big income increases that this year outran goods-inflation by a wide margin.

Sign of Tight Labor Market, Strength of Ecommerce: Amazon to Hire 250,000 for Holidays, up from 150,000 Last Year, Boost Wages, Offer Sign-on Bonuses

by Wolf Richter • Sep 20, 2023 • 48 Comments

While fewer and fewer Americans head to the malls.

Our Drunken Sailors Splurged at Stores & Auto Dealers amid Lower Prices of Durable Goods, Partied at Eating & Drinking Places, and Paid an Arm and a Leg at Gas Stations

by Wolf Richter • Sep 14, 2023 • 166 Comments

They spent a record amount more at bars & restaurants than at food & beverage stores, which tells us something about our drunken sailors.

Defaulted Crossgates Mall CMBS Loans Sold at 69% Below 2012 Appraised Value of the Mall

by Wolf Richter • Aug 18, 2023 • 112 Comments

CRE debt keeps on giving. Retail CMBS have been a bloodbath for years. Thankfully, banks largely not on the hook.

Drunken Sailors Partying Hard: Retail Sales Jump despite Cooling Inflation in Goods that Retailers Sell

by Wolf Richter • Aug 15, 2023 • 128 Comments

They partied most at Restaurants & Bars, and at ecommerce retailers. If I hear one more time consumers are “tapped out,” I’m going to scream.

Our Drunken Sailors Are Still at it, Splurging Online, Buying Cars, Eating Out

by Wolf Richter • Jul 18, 2023 • 146 Comments

But the 26% plunge in gasoline prices hit gas stations. The pandemic home-remodeling & furnishing boom is over. Ecommerce keeps killing department stores.

Dropping Prices of Goods Hit Retail Sales (Inflation Shifted to Services, Which Retailers Don’t Sell). Charts by Retail Category

by Wolf Richter • Jun 15, 2023 • 56 Comments

But ecommerce sales continue to soar, despite price drops.

Westfield Walks from Mall in San Francisco, after Walking from 2 Malls in Florida & others. Screws CMBS Holders, Said in 2021 it’ll Dump All Malls, but Suddenly Blames San Francisco?

by Wolf Richter • Jun 13, 2023 • 159 Comments

Default rate of mall CMBS rose to 7%. Simon Property Group, largest mall landlord, walked from malls for years. Tens of thousands of stores closed. Ecommerce is killing them one by one, not San Francisco.

Why Jobs in Retail Are at 2007 Levels: It’s Structural. Jobs in Ecommerce & Services Boomed but Aren’t in “Retail Trade.” And Half of Retail Trade is Moribund

by Wolf Richter • Jun 5, 2023 • 84 Comments

Walmart U.S. gave us some color: ecommerce sales +27%; grocery sales +12%; non-grocery brick-and-mortar sales -10%.

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