Independent thinking for complex markets and current events
• U.S. stock markets will close at 1:00 p.m on Wednesday. The bond markets will close at 2:00 p.m. • The U.S. markets and most global markets will be closed Thursday for observance of the Christmas holiday. • Some global markets will be closed Friday as the Boxing Day… pic.twitter.com/GeGHwBCyER — Jesse Cohen (@JesseCohenInv) December …
If you’re still banking on access to your local branch, don’t count on it. Major US banks have announced plans to shut 311 branches since late August — a pre-Christmas wipeout that puts 2025 on track to be the worst year ever for walk-in banking. JPMorgan Chase led the pre-Christmas cull with 66 closures, followed …
A national pizza chain is the latest victim in the decline of fast-casual dining. The Little Brown Box Pizza, parent company of Pieology Pizzeria, filed for bankruptcy earlier this week, according to QSR Magazine. The chain, founded in 2011, listed between $100,000 and $500,000 in assets and $1 million and $10 million in liabilities. The …
The Tanning Tax Repeal Act of 2025 scraps a 15-year-old ObamaCare relic that crushed small businesses while failing miserably to meet revenue targets. The 10% excise tax on indoor tanning services was projected to rake in $2.7B over a decade but barely delivered $91M by 2012.… — Watch DOGE (@dogeai_gov) June 8, 2025
Forever 21, the prominent fast-fashion retailer, is preparing to shutter approximately 200 additional stores as it approaches a potential second bankruptcy filing, which could occur as early as next month. This move comes as the company struggles to find a suitable buyer for its remaining operations; without one, the entire chain of around 350 stores …
by Martin Armstrong Over 6,481 retailers have closed their doors since the beginning of the new year, according to data from Coresight Research in November, but that figure is expected to reach 7,327, marking a 57.8% increase in closures since 2023. During the pandemic, closures exceeded openings by 180 stores in 2020, with the gap …
A major party and craft retailer with 850 stores across the nation is considering filing for bankruptcy. Party City has been faced with the possibility of mass closures just a little over a year after the company surfaced from Chapter 11 bankruptcy. The celebration retailer, known for selling balloons and essential party supplies, is currently …
Another retailer finds out the 2021 “recovery” was mostly an illusion. Prices may have soared and revenues looking good, it didn’t last because it couldn’t. As the company closes hundreds of stores and prepares to lay off an unknown number of workers, more stats show this is no isolated case. The cycle continues and continues …
Job cuts accelerate in October with strikes, mass furloughs, layoffs, & small business closures at elevated levels. Over 109,000 cuts per our preliminary figure. Final figure available on Sunday, as always. #MacroEdge #DrivenbyData pic.twitter.com/9cPnR1qDr9 — MacroEdge (@MacroEdgeRes) October 31, 2024 *US BLS: OCT. TRANSPORT EQUIP. JOBS FALL 44K, REFLECTING STRIKE *US BLS:HURRICANES LIKELY AFFECTED OCT. …
Macy’s decision to close nearly a third of its stores will spark change in malls and communities across the U.S. Some of those transformations may catch shoppers by surprise. The retailer said in late February that it plans to close about 150 of its namesake locations by early 2027. Macy’s has not yet revealed which …
This is Beijing’s most known rotten-tailed shopping district, the Shimao Gongsan Shopping Center. So far, it hasn’t been able to find a company willing to take over the project. It has been depressed, doing poor business for many years. In fact, its location is great. Across the road is the famous Sanlitun Bar Street, which …
According to CoreSight, here are retail closures so far in 2024 of companies that operate in California, followed by the total number of stores impacted nationwide: Family Dollar (620) Rue21 (543) 99 Cents Only Stores (371) CVS Health (315) 7-Eleven (272) Rite Aid (165) Express (105) Walgreens Boots Alliance, the parent company of Walgreens and …
Stop & Shop is planning to shutter ‘underperforming’ stores over the next few years. The Massachusetts-based company has almost 400 stores in five states: with New York, New Jersey, Connecticut, and Rhode Island as well. The store closures were announced during its parent company Ahold Delhaize’s ‘Strategy Day’ last week, where a four-year plan for …
Analysts have reported seeing an alarming increase in banks closing customers’ bank accounts due to suspicious activity. In just the last few years, this trend has escalated for a variety of reasons. However, experts are sounding the alarm bells over these mass closures, explaining that banks need to find other ways to deal with supposed …
3 seafood processors announce closures, selloffs following historic price collapse for Alaska fishing industry https://alaskapublic.org/2024/02/15/3-seafood-processors-announce-closures-selloffs-following-historic-price-collapse-for-alaska-fishing-industry/ 3 major seafood processors in Alaska have announced plans to sell off their plants or temporarily close for the upcoming fishing seasons. Trident, Peter Pan Seafood Company and OBI Seafoods have all cited turbulent market conditions for their decisions. https://www.savingseafood.org/news/state-and-local/alaska-3-seafood-processors-announce-closures-selloffs-following-historic-price-collapse-for-alaska-fishing-industry/ …
by Rufus Juice And what did we think was going to happen? Restaurants operate on razor thin margins. Its why the forced closures of Covid closed so many – forever. Mandating people close doors – Closes doors forever. Mandating unsustainable wages – Closes doors forever. Other chains have already raised prices this week – foot …
The recent tumult in Chinese stocks has sent shockwaves through the nation’s asset management sector, resulting in a notable uptick in mutual fund closures. In 2023, around 240 local mutual funds were liquidated, marking the highest closure rate since the industry underwent a significant shakeup in 2018 due to more stringent asset management regulations. What’s …
As we enter 2024, once thriving US high streets are starting to resemble desolate ghost towns as America is taunted by the ever-looming threat of yet another financial crash. If the economy is thriving then why are we seeing more bank closures than ever before and why are retailers being forced to shutter many of …
COVID class-action splurge continues: GWU university near White House pays $5M for shutting down class. Class-action lawyers may have frowned when Cornell University agreed to pay just $3 million last fall to settle a lawsuit seeking tuition refunds from its shutdown of classroom instruction early in the COVID-19 pandemic – a far cry from …
I think people are going to say "hell no" to taking down coal plants when they learn China and Russia are building more. We get weaker…they get stronger under Biden…that's the plan. — floridanow1 (@floridanow1) December 3, 2023 Apologies for being party pooper, but as long as China is adding two coal power plants per …
Here’s a map of notable store closures in downtown San Francisco. As foot traffic has declined and theft has grown, stores are closing down. Yet another sign of the pain consumers are feeling from inflation. Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/CKf75xUiB9 — The Kobeissi Letter (@KobeissiLetter) August 30, 2023
More than 2,200 stores are closing across the US in 2023. Here’s the full list: It’s not exactly the retail apocalypse of prior years, but it’s a shakeup nonetheless. An Insider tally of announcements by major retailers in 2023 finds as many as 2,280 stores set to close across the US. The rationales are varied: …