The retail apocalypse is now in full swing. As consumers drift toward the ease of online shopping, brick and mortar stores begin to close up. Dollar Tree is the latest in a wave of companies announcing that they will be closing several hundred stores in the following months.
Dollar Tree reported a $2.3 billion loss, which has propelled the company to announce store closures and renovations. Dollar Tree plans to close 390 Family Dollar stores this year while renovating 1,000 other locations. “We are confident we are taking the appropriate steps to reposition our Family Dollar brand for increasing profitability as business initiatives gain traction in the back half of fiscal 2019,” CEO Gary Philbin said in announcing the results according to CNBC.
On an unadjusted basis, the company had a loss of $2.31 billion, or a loss of $9.66 a share, compared with a profit of $1.04 billion, or $4.37 a share, during the same quarter last year, which included an extra week.
This news comes as the clothing retailer Charlotte Russe announced they will close all of their stores and immediately begin to liquidate their inventory. “We are partnering with the buyer and remain in talks to sell the (intellectual property), are optimistic about the future of the brand, and remain in ongoing negotiations with a buyer who has expressed interest in a continued brick and mortar presence to continue to serve our loyal customers in the future,” the fashion retailer said in a statement to USA TODAY.
In a court hearing in Wilmington, Delaware, on Wednesday, Judge Laurie Selber Silverstein approved the sale of Charlotte Russe’s assets to SB360 Capital Partners LLC, a liquidation company. According to court documents, store liquidation sales “shall commence no later than March 7” and end “no later than April 30.”
Charlotte Russe Holdings had been teetering on the edge of bankruptcy for some time, having announced a deal to renegotiate certain debts more than a year ago.
The San Diego-based mall chain filed for Chapter 11 bankruptcy protection in early February and outlined plans to close 94 stores. The chain also put itself up for sale and said if it didn’t find a buyer it would liquidate. –USA Today
A furious wave of retail store closures is underway. Many companies have too much debt and can no longer remain competitive with companies such as Amazon. The bankruptcy marks the latest in a series of similar cases among mall retailers that have been unable to identify any realistic sustainable path amid declining foot traffic and intense digital competition.
Not so amusing is the fact that when businesses run out of money, they go bankrupt and close down, while people just go on welfare and governments just print money. Some groups are more equal than others.
Yet these paid multi million dollar CEO’s keep buying other businesses, putting their companies at risk in deep debt and then having to declare bankruptcy and walk away with more millions from their golden parachutes. That is more equal for sure!
I don’t go to any of the ‘dollar stores’ because, 1. That’s a favorite place for the ‘gimme dats’ to shop [or shoplift] and, 2. They don’t carry any prep items I care for.
DR, it’s been years since I have bought anything that is not prep related. Plus, I regularly exercise my Constitution Right of Freedom Of Association whenever possible.
When the gimme dat gets finished with Dollar Tree then where do the LOCUST GO NEXT ?
Dollar Tree has some awesome 80 hour glass candles for $1. Also 10 packs of stick matches for a $1. They also have some of the lowest cost AA Alkaline Batteries in existence. Oh, and not to forget the inexpensive lighters for use or bartering.
You’re missing out on the Breckenridge Farms Bread & Butter pickle slices.
Made in China, Right?
I see this a LOT in discount outlets: jars of inexpensive pickles, fruit salad, artichoke hearts, etc. –and in TINY print (often in gray against a green background, or some other hard-to-see format) it will say “product of China” or “product of Turkey” or some such. I have no idea what the food quality regs are in Turkey, but I won’t touch anything from China.
Another common ploy is “distributed by Shady Ethics Food Products, NY, NY” –the “distributed by” labeling is blatantly illegal, because it’s an obvious dodge around legally required source disclosure… but nobody ever seems to do anything about it. It’s not just in the discount places, either; I see labels like this everywhere.
Many of these products have ‘wholesome’ or ‘patriotic’ sounding names, such as “American Heartland” or “Pantry Goodness” to mislead the unwary into thinking that these are products of the USA.
Sadly, many food products from the USA aren’t safe either; loaded with pesticides, fungicides, and other toxins. One of the worst is rice; I read that rice is the heaviest-hit crop in the USA with regard to pesticides.
(I can buy a 2-lb. bag of organic rice at my ordinary local grocery store for $3. It’s still a very inexpensive food on a per-serving basis.)
Always read the labels!
I shop there for some preps. For Not much Money, You can put together several personal med kits as well as hygiene kits for barter When it goes sideways, these will be in high demand. Small investment for a big return or just plain good will.
Just a Thought.
Super stainless paring knife that will cot the hair on your arm.
Rechargeable night lights
Swiss Army knife-cheap but effective
Super razors double edge10 in a pack-I shave with these
all for a dollar.
Dude, what kind of prepped are you??!
I disagree, I like getting my tradable spam there people will love that crap when they are starving
I have a GREAT idea for a Sociology or Psychology student…..do a study on the Demographic breakdown of the neighborhoods the closing stores are located.
I will bet there is a common similarity.
Also, Dollar Tree only needs to change it’s pricing to $2 for everything and they will DOUBLE their income and still have the same market.
The economy isn’t as described by the white house, not by a longshot.
A lot of that depends where you live. The Atlanta area has more jobs than it can get people.
I don’t know how GA did it but there aren’t many “non-citizens” working at the retail level any longer. I have a feeling it has something to do with the fact GA is one of the states that mandates able body people must work before or instead of getting any welfare.
I guess when a certain type of people have to apply at the employment office for work without papers it might get a little dicey????
” Retail Apocalypse Continues: Dollar Tree Closing Up To 390 Stores”
These are by & large Family Dollar stores acquired in the MERGER between Dollar Tree & Family Dollar; as would be expected when competitors are combined.
That said the “Retail Apocalypse” is not as catastrophic as some would have us believe. America has FUNDAMENTALLY changed …… the way it does it retail shopping: led by Amazon. 🙂
No doubt the MSM will claim it’s people buying on the internet causing all these store closures when it doesn’t tell the whole story, maybe about a quarter of the decline is attributed to the increase in on-line shopping.
They keep pushing cashless crap too……….keep spending using coins and cash folks!
Folks, EVERYTHING is crashing and burning hahaha pull out a cigar, a bottle of hooch and sit back and watch and shake your head when all the idiots run around like the wild vile savages apes that they truly are…
Gov’t is the cause of 90% of all of this black death plague everywhere.
I’m a great Ollies and Rural King fan. They seem to be expanding. Both have applicable prepping items. We like yard sales and flea markets too. The fancier the store the less we like it.
Kevin2, agreed about fancy stores. I also go to flea markets and yard sales on occasion. I’ve managed to get a few prep items at flea markets. Speaking of Ollie’s, we’ve got 2 of those opening in my area soon. I’ll check them out.
Love the Rural King. Stop in there every time I visit the folks down in Tennessee. Been open in Maynardville for a couple of years or so. Reminds me of our Tractor Supply here at home only much larger. Was able to find an extra mag there for the Sig P220.
If one had only one store to pick from in the event of an upcoming SHTF or shortly post thereafter it would be Rural King. From food, abet limited but non perishable, through functional clothing, defense, tools, parts for repairs, feed, animal medical care among other items its all there. Ollies is a bit like Forrest Gump in that you never know what your going to get as they buy overruns and the like. One thing for sure the price is very reasonable at both of them for most items.
Repr Sleepr, we’ve got a couple of Tractor Supply stores in my area I go to on occasion. I’ve never heard of Rural King. I’ll look into them.
Rural Kings firearms are usually at the lowest prices. They can be ordered on line and they’ll ship it to the store for your pick up complying with all laws of course. They give you free pop corn when you enter too. They’re like a “general store” of old with a modern twist.
They opened another one in Maryville (pronounced Mur’vl by the natives) about a year ago in the old KMart. Love that place! They have the best plant selection (for veg gardening) anywhere!
K2, Thanks for noting a couple of good places to find decent stuff. I checked the websites for both and there is a good selection of Ollies around my region but the nearest Rural King is 60 miles out although they do have mail order which is fine for many items.
Same shakeout,different year……adapt.
Jim you hit on perhaps the greatest survival skill in history. Adaptation! Adapt or die. It’s often that simple.
The problem is that it’s Simple NOT Easy!
Especially when the changes that are occurring are evil (e.g. Socialism/Communism) or will force you into a very undesirable situation (e.g. Gun Control/Registration/Confiscation). However, the fact is that our dear leaders have sold America out by de-industrializing us and importing our replacements. They will turn us into a Socialist/Communist Mongrelized country then assimilate us into the NWO. If we won’t be assimilated we will be destroyed.
Adapting to this reality is going to suck to say the least. We have been and are being done to.
I do not have any idea what happened to my guns.
Betcha if they sold marijuana ciggies for a buck they would be okay.
Can not blame dollar store closings on Amazon cus I do not beleive you can go on amazon and buy 1.00 item and get free shipping on Amazon LOL… Off subject but a remedy for the opioid crisis would be have DR’s be able to impliment and prescribe alcohol for pain treatment cus if reefer can be prescribed for medical treatment /releif why not alcohol and make insurance companies cover it also. Simple scripts to treat pain,insomnia, arthritis, anxiety and a shit load more ailments it could releive. Face it opioid doesn’t cure anything just releives discomfort same as alcohol. 2-3 ounces every 4-6 hours or as needed. Not jokeing about this either just simple better approach. Like i said if weed can be medical treatment alcohol can treat even a wider range of affliction. What do you think???
And strength also deplicted be it 40 proof or 80 proof and not just plain grain alcohol but rum whisky vodka gin im sure that different alcohols treat different ailments. And brandy dont forget brandy
Brandy is something you cook with. Cognac is something you savor.
Dobosh torte with cognac…..I’m on it!
After paying for “XO” Cognac, I can’t afford a fancy cake!
Sounds good though. I encourage you to enjoy.
It doesn’t have to be expensive. Out of the family archive- all ala white trash fancy.
Cut frozen Sara Lee all butter pound cake lengthwise into 6 slices.
Whip 1+1/2 cups heavy cream set aside
Melt 4oz German sweet chocolate add 1/4cup very strong coffee and blend til smooth.
Add 2tbs Cognac and cool. Cheap will do.
Fold into whipped cream .
Build up layers of pound cake and cream mixture. Cover pound cake completely.
Cool in fridge.
A taste of my childhood and still better than most high end Dobosh -Dobosch – Dobos tortes.
I made the torte. Not happy.
The frosting was ON POINT !
The problem was the Sara Lee pound cake. It had the classic flavor but an unclassic aftertaste.
For my next one I’m going full homemade pound cake.
Has any culture fermented marijuana for a beverage?
“If you got bad news and what to forget those blues…..and your name and age”.
Best way to treat the opioid crisis is to stockpile ALL the Narcam in one place, like the top of a centrally placed mountain. Like MT McKinley, with several high speed MT Bikers ready to deliver at all times. Just call and they will be immediately sent out. More efficient, much more cost effective.
Just more evidence of Trump’s destruction of our economy.
that the morbidly obese welfare entitlement people
are getting way too much money each month
stupid legal American working taxpayers.
If the 115 million unwilling to work “poor fat American slobs” were truly broke they would be buying from these dollar stores .
Did you notice that the scam charities never scam money to feed “starving people in America” anymore?
Don’t worry, the new “FREE Motorized Shopping Carts for Fat Lazy Obese American Slobs” stores are opening in your area soon. All you’ll need is a social suckruddity card to take immediate delivery off the stupid American taxpayer.
Would like some advice on this and it would be appreciated:)
If TEOTWAWKI ever happens (pandemic or EMP) what can be used for personal and household cleaning along with dental health?
The supplies in stores have a limited shelf life of two years. Some start to lose effectiveness after just six months (bleach and some washing powders) whilst other products last just beyond two years (kitchen surface spray and mouthwash) I’ve contacted several manufactures.
I keep hearing from fellow preppers to stockpile lots of products but if a disaster causes social collapse on a permanent basis, the products in stores or preps at home will soon be useless.
Short list of ideas. You have to read n research. Make up your own mind.
Salt. Lots of salt.
Research saponification. you can diy it
Dawn. A little goes a long way.
Vinegar – apples to make ACV – cleans and base for fire cider.
Grow garlic and oregano. Good for solutions to fight plant fungus n stuff. N stuff.
Mason jars. Lids. Lots of lids.
Agree with stocking lots of salt and white vinegar and they don’t spoil too, great.
Doesn’t Baking soda have a limited shelf life?
Didn’t think about the benefits of garlic…….will look into it.
Thanks for the ideas and information:)
Moisture and oxygen are going to limit baking soda shelf life. Cardboard box not good. Plastic bag soda better but not designed for convenience not long term storage. I have seen several people refer to vacuum sealing in Mason jars. I keep general purpose bags of the stuff and some for baking. Some in Mason jars with small rocks for a shake and throw for floor level fire
“Many companies have too much debt and can no longer remain competitive with companies such as Amazon” Another thing to add to that is Amazon has one h3ll of a distribution system.
I just sent my elderly mother some hand warmers.
Amazon had free shipping and delivery in two days.
Walmart shipping was $5.99 and delivery in one week.
I’m in Hawaii and she is in Missouri.
That is not a “brick and mortar” issue. It is a how you
do business issue.
1. The point about the merger is valid and should have been included in the analysis. Fail.
2. The point that amazon does not cater to cheap stuff is also valid and should have been part of the analysis. fail again.
3. There have got to be about a dozen or so chains with the word “dollar” in the name. or something similar like 5 below. There is a glut. This is partly just the market shaking out the weaker stores and the stronger surviving. fail again.
4. The retail industry has changed. The Just-In-Time system means that stores no longer keep much inventory. Their web sites have a lot of thing listed that say “not available in stores, only online” or something to that effect. Even brick and mortar companies are pushing us to order stuff online. Fail again.
5. The whole tech-retail-mfg-gov Archipelago is re-training us to shop on line. Why? Because is it easier to track your searches and spending. You can’t pay cash. No privacy anymore. fail again.
6. A lot of people have probably quit shopping there altogether. The prices may be low, but the packaging is soooo small that the per/ounce price is higher than a normal store. It is also the CHEAPEST crap from the chicoms. Where do you think they dump their toxic waste? no proof, just tongue in cheek. The people who shop there possess the same mentality of those that shop their groceries at a gas station.
I also get many preps from garage/rummage/flea/estate sales. One the prices are less than new. two, older stuff was made better than the new stuff. it will last longer. three, I have been acquiring the non-electric version of everything I need. four, I pay cash, no record.
What are you talking about cant drink brandy suppose you never tried apricot brandy or peach or blackberry??
I like Dollar Tree a lot, but I will often drive past it to the 99Cent Only store because they actually carry produce there. I hope Dollar Tree’s remodeling of their remaining stores includes produce sections.
When 99Cents Only stores carries a higher priced item, I’ve found these items to be half the normal cost.
Dollar Tree has some good deals, how much is a dollar worth in reality? One store that sits next to a neighborhood Walmart is always packed, while another next to a relocated Walmart is near empty. That reveals much about the people who shop there. I see videos on the net showing off the great deals found at Dollar Tree. Stationary items like tape, paper and envelopes are cheapest there while other useful bargains can be found there.
Dollar stores are just overpriced grocery stores for the poor folk.
Headlines from the Obama era talked about the expansion of the Dollar Store… how a new one was opening up every few days. They over expanded. Simple enough. Charlotte Russe was dead 15 years ago and so was Sears. Poor merchandise- sloppy marketing- bad management. Our local mall Sears was ghetto in a very nice area. I’ll believe in the retail apocalypse when I see the restaurants empty. There is a waiting line for us at most any well run franchise we visit. We live in an increasingly casually dressed society. How many tank tops and jeans can you sell? People don’t dress up anymore. Dollar store stuff??? Same old same old. People have most of the cheap disposable stuff they need now. Thank you very much China.