Economic Turmoil: 169 US Retail Closures Surge by 12.3% – Is Your Favorite Store Affected?
In a recent commentary by Connor Cavanaugh on May 5, 2024, the U.S. economy faces challenges with 169 retail closures in a week, up by 12.3% year-on-year. Major stores like Urban Outfitters and Walmart have been affected. This trend, attributed to various factors including Bidenomics, highlights ongoing economic concerns and impacts on businesses. Your provided summary is concise and captures the key points from the commentary by Connor Cavanaugh on the challenges faced by the U.S. economy, with a focus on the increasing retail closures and their impact on major stores. The mention of Bidenomics and its role in the economic situation adds depth to the analysis.
By Connor Cavanaugh May 5, 2024 at 10:32am
The economic news isn’t getting any better.
Bidenomics continues to prove itself the most lethal killer of the U.S. economy since COVID overtook the world as 169 retail stores closed in a single week, up 12.3 percent from the year before, according to data reported last week by the U.K. Daily Mail.
Staples across the country such as Urban Outfitters, Walmart and more shuttered locations during the week that ended April 26, the Daily Mail reported.
The newest data bring the total number of closures this year up to 2,587, about 300 more than the same time last year, with fewer stores opening.
“Year to date, in 2024, major US retailers have announced 7.4 percent fewer openings and 12.3 percent more closures compared to the same time last year,” the business research and consulting firm Coresight Research noted in a report, according to the Daily Mail.
US retailers confirm another 169 store closures in just one week – among them Urban Outfitters, Walmart and a premium grocery chain https://t.co/vkQrBRl2Il pic.twitter.com/S29wDNZTkr
— Daily Mail Online (@MailOnline) May 1, 2024
Closures have been a hot topic in the Biden years as even after COVID stores continue to close in high numbers.
While of course changes in the market are absolutely to blame to an extent — shifts toward online marketplaces, changes in public interest, etc. — it’s clear that the business environment created by President Joe Biden’s administration isn’t helping.
Has your family been hurt by Bidenomics?
And that’s not to mention the rampant lawlessness of Democratic-run cities where shoplifting and other crime has forced businesses to close.
In a February 2023 speech in DeForest, Wisconsin, Biden talked about his administration “building an economy where no one is going to be left behind,” according to a White House transcript.
As it’s turning out, everyone is being left behind.
That’s Bidenomics.
Gotta love bidenomics. 2600 store closings this year. https://t.co/RIWbLWQANz
— Egg Zackly (@EggZackly1) May 1, 2024
.#Bidenomics. The economy is going just as the administration planned. A strong #MiddleClass is a check on their centralized government. — US retailers confirm another 169 closures in just one week https://t.co/6kTUa2Jxnz via @MailOnline
— Stephen Waters (@sbwTweet) May 1, 2024
No matter what flowery language he uses when talking, or whatever claims he makes to the press, the reality is that Biden’s economic policies, and the policies of the Democratic Party, are disastrous for businesses.
With immense inflation, the road to success is becoming more narrow.
Perhaps we never return to the economy we had pre-COVID, but we can get closer.
Of course, the easiest way to get there is casting a ballot against the aging Democrat in November and ensuring that senile geezer is nowhere near the Oval Office again.
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