Retail woes spread across all price points

Because of yesterday’s monumental news the Richmond Fed President Jeffrey Lacker immediately resigned for leaking Fed information before it was released, I did not write on two huge developments in US retailing that point to the troubling economy. Ralph Lauren — the iconic US retailer — is closing its flagship Manhattan store on 5th Avenue […]

Lampert’s retail experiment implodes. Sears down 93% under his leadership

Hedge fund titan and failed retail exec Eddie Lampert finally admitted Wednesday what I have been saying for some time, Sears & Kmart are in trouble and may not make it. Lampert, in an annual filing said,  that “substantial doubt exists” about [Sears] ability to continue as a “going concern.” Meaning a bankruptcy filing could […]

Send lawyers, guns & money to ailing retailers

As we wait for the double: Dutch election/Fed rate decision, I wanted to look at one sector that has suffered since the Trump election. Gun sales and FBI background checks have fallen hard since the election as the fear of confiscation and regulation on sales has disappeared. On Monday, Remington announced 120 people would be […]

Macy’s looking to maul malls

What happens when the anchor store at the mall becomes a mall? The changing face of retail in the US showed some more of its cards Thursday as both Macy’s and Kohl’s stores said they would be carving up space within its stores to sell to other retailers. So as the malls close and suffer […]

Retail is a losing concern

So we see Macy’s and Wal-Mart come out with earnings from the holiday quarter Tuesday morning. And while both did better than the Street expected on the bottom line, sales and revenue were lower than the year prior and lower than projections. The balance sheet machinations to get to a better earnings per share are […]

Inflation numbers doesn’t mean the consumer is back

Let’s look at the Consumer Price Index that was released Wednesday by the Labor Department. The report said inflation had its biggest monthly jump in almost four years for pricing. While the report said prices rose 2.5% annualized in January and is over the Federal Reserve’s 2% target level, this could lead to a March […]

Macy’s may the retail’s canary in coal mine

My colleagues at The New York Post have an exclusive story on Macy’s looking for a white knight to buy it, before an activist investor attempts to break it up. The hedge fund says that the value of Macy’s real estate is worth more than two times the current market cap of the stock. Macy’s […]