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POSTED ON November 23, 2018  - POSTED IN Fun on Friday

Well, today is Black Friday.

Since 2005, the day after Thanksgiving has marked the busiest shopping day of the year. I know a lot of people who treat today like a holiday. They even have Black Friday traditions. I actually have some friends who meet at 3 a.m. on Black Friday for breakfast and then hit the sales.

POSTED ON April 11, 2018  - POSTED IN Key Gold Headlines

There were more signs of a retail apocalypse in the first quarter of this year.

Defaults by retail companies rated by Moody’s hit an all-time high in Q1. There were a total of nine defaults among Moody’s-rated retail corporates. According to Wolf Street, total corporate defaults in Q1 were up 22% from last year, and the nine retailer defaults accounted for nearly 1/3 of them.

As Wolf Street put it, these are not mom-and-pop stores.  These are retailers large enough to be rated by Moody’s –  “corporations that make up the core of the Brick-and-Mortar Meltdown.”

POSTED ON March 19, 2018  - POSTED IN Key Gold Headlines

Could we be on the verge of a retail apocalypse?

February marked the third straight month of declining retail sales. Analysts had not expected another drop, but they got one nonetheless. Sales fell 0.1% in February. Analysts had expected an uptick of 0.3%.

This is not good news for a retail sector that is already teetering on the brink.

POSTED ON September 21, 2017  - POSTED IN Key Gold Headlines

Toys R Us filed for bankruptcy earlier this week, a wicked head-shot to a retail sector that’s been reeling for months.

The TRU filing ranks as the second-largest US retail bankruptcy ever, according to S&P Global Market Intelligence.

Toys R Us had $6.6 billion in assets at the time of filing. Only Kmart was bigger. It had $16.3 billion in assets when it went bankrupt in 2002. Crushing debt pulled the giant toy seller under. According to a Bloomberg report, the company has piled up more than $5 billion in debt. Toys R Us reportedly pays more than $400 million a year on debt service alone.

The company says it plans to continue operating and secured a$3.1 billion operating loan to stabilize operations.

POSTED ON May 15, 2017  - POSTED IN Key Gold Headlines

The air continues to come out of the retail bubble. As CNBC put it, “The overarching narrative for much of the retail industry into the first half of 2017 has been store closures and bankruptcies.”

Investors knew retailers were struggling, but it wasn’t until this week’s financial reports that they were able to gauge how much sales had deteriorated due to slowing foot traffic.”

And they have deteriorated significantly. Dillard’s, Macy’s, Kohl’s, Nordstrom and JC Penny all reported dismal first quarter results.  On his most recent podcast, Peter Schiff called it the “retailpocalypse.”

The retail sector is in worse shape today than it was in 2008 during and immediately following the financial crisis.”

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