Monday, April 9, 2018

RETAIL STORE OPENINGS

Normally I like the Treasury Secretaries whether they are Democrat or Republican, but I'm not sure about Steve Mnuchin who also lies.  Incidentally, Amazon has less than 4% (yes, less than four percent) of the retail business.  Contrary to the claims, brick and mortar retail stores are increasing rather than decreasing (quotes are in italics and larger print with the reference at the end):
As the “retail apocalypse” canard continues to grab the odd headline in the media, the data and the facts are consistently telling us quite a different story: a story of an industry in transition, but still growing. The most recent retail sales figures released by the Census Bureau were up a robust 4.2 percent year-on-year in July. Every month this year has seen a steady increase in sales over the same period last year. 
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Their data shows a net increase in store openings of over 4,000 in 2017. In fact, for each company closing a store, 2.7 companies are opening stores.  (bolding and underlining are added)

I suspect that Walmart has been responsible for far more stores closing than Amazon.

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