Major retailers closing doors amid inflation | FOX 13 Seattle
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- Опубліковано 6 сер 2024
- Major retail chains are being forced to close thousands of their brick-and-mortar stores across the U.S.
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Closing doors due to crimeflation
Bidenflation
@@malin7919....don't insult the PARSITE of the united states.😊
@@CZAR-OF-SARCAZMparsite?
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Got to laugh. Inflation? How about theft and street zombies.
Why not all the above?
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@@kingkoi6542 My area has very little crime and there are no stores closing
@@kingkoi6542 Exactly. Crime and inflation but more due to inflation. Inflation is destroying the economy more so than theft and crime. Folks just can't pay the high prices and if stores don't make money then they are out of business.
Bring on the data. Data shows inflation is low, and so is crime.
Keep voting blue seattle...
They will vote for their own destruction rather than admit they've been wrong.
The article was about nationwide trends. Also, let's not let the online shopping revolution get in the way of political hackery.
This has literally nothing to do with how we vote, but thanks for playing.
@@omi_god Explain how this has literally nothing to do with how we vote.
Bidenomics!
It's called a controlled demolition.
It's only downhill from here
Businesses have to pay inventory taxes on every item that is in their store. Government greed is helping close stores.
Inflation and inflated wages are government greed?
@@mjones1665 That isn't at all what the comment says.
But going off on that tangent: Yes, any honest economist will tell you that monetary inflation is just a covert tax created by government greed (essentially attempting to counterfeit their way out of debt).
@@mjones1665
Blacks for Trump
@@mjones1665
So you cant read?
How about slashing CEO salaries they are the most overpaid people.Bezo & Musk and their kind need to pay taxes like the average joe and jane america..
Inflation = more shoplifting
I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.
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I'm sure the idea of an invstment-Adviser might sound controversial to a few, but a new study by Motley-fool found out that demand for Financial-Advisers sky-rocketed by over 42% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 85k.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with 'MICHELE KATHERINE SINGH' for the last five years or so, and her returns have been pretty much amazing.
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
You mean the people inflating the goods from the store without paying?
Best economy ever 🤣🤣🤣
The bestest 😂
for the wealthy
According to Kamala Joe
Your chocolate ration is increased from 30 grams to 20.
"Envy of the world"😂
We know the real reason. The usual inner city suspects stealing stuff from off the shelves is the cause.
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Not fully true. Where i live Theft hasn't become to crazy because we still serve the law here. And stores are still closing. Biden has broken everyone's bank accounts now. Demand is low now stores arr not moving product anymore due to consumer living cost.. Biden aint cheep
Kool aid from foxy is Soo delicious for coowns
Any excuse will do. Travon attacked the guy, according to the pathology report, and he's shocked he gets shot?
This was the excuse to riot Best Buy and the mayor, Lightfoot, CONDONED IT! I lived there decades, but not long after that, I assure you! Time to go!! In DePaul/LP, not some slums, either!!
familyfeudalcommunism
Such uneducated people. So blinded to what's really happening
Why didn't you elaborate then?
I was at Walgreens yesterday and it was practically empty. The issue is that stores like CVS, Rite Aid, and Walgreens mark up prices at an insane level, always have. It’s why drug stores are going out of business. Why shop at CVS when you can buy the same item at stores like Kroger or Amazon for less?
I must commend you on your rare comment based on logic and common sense. Very rare these days.
"Why shop at CVS when you can buy the same item at stores like Kroger or Amazon for less?"
because in the good 'ol days (pre-Biden) people had some exess money to spend on convienence. Back then they didn't mind paying an extra dollar for milk if they could get in/get out quickly. That's all changed now and most people are stretched so thin they would rather wait in line for a lower price. Add in the massive cost of retail theft and it's no wonder stores are closing.
CVS and Walgreens have always been trash. Can’t remember the last time I stepped in one, had to have been 5 or 6 years ago.
Has nothing to do with inflation, or crime, or losing money. Just ask Congresswoman Ayana Pressley of Massachusetts and she will inform you with ALL of her "wisdom" that store closings are racially motivated.
Yall right wing bots are annoying. If you are so mad about it, then can yall like get off UA-cam comments and go do something about it?
@@Name-jw4sj yall cry harder 🤣🤣🤣
She would tell you that "wisdom" had an "s" on the end of it, because it was plural.
You must be a left wing bot with a name like Name-jw4sj. That's because you're a 'jw4sj warrior' eh?
Businesses/stores operate on money, not sentiment. If they don't make money then they are out of business. If they can't operate because crime is not controlled then they are out of business in that high crime area.
Closing stores amid youth being encouraged to loot.
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Saw this in DePaul/Lincoln Park!! Rich area of Chicago. You'd think for 20k+ prop tax on the very low side to 40k+ and up (!?) that you could get a cop to show up and DO something, right?? Nope!! They let bums shite on the sidewalk.
My DOGS know better than that!
They let h.s. brats riot at Walgreen's! Repeatedly!! And they DO NOT even live there! STILL can't read, write, or do math, much less write a cohesive sentence. But that's OUR fault?? They're AT a decent school in a good area, just to ruin it for people who want to learn.
Rioted Best Buy at least once, and the mayor (LIGHTFOOT!) CONDONED IT! Heard that from people who are still stupid enough to still BE there.
This started w Lightfoot and hasn't gotten any better. I had hopes for her, too. So much for that! The Daleys NEVER put up w this, btw. You could get half the force over w 1 call until she showed up.
Time to GTFO. That's the RICH areas, btw!! They'll learn when the tax base leaves. MAYBE.
Why haven't stores sued the states encouraging theft?
Older people too.
Keep printing those trillions for Ukraine and Israel
Well Ukraine and Israel is only 60 billion that is not even 1% of the COVID money which is 5,000 billion, keep things in perspective bucko
@@drscopeify60 billion…….that’s just this last one…try trillion.🇺🇸☠️✊🏾
At least trump gave the cash to his people biden is giving it away by by gone big differences. A real leader would not let his own people suffer like this an give the available cash to someone else a real leader would fend for his own 1st. Trump is def not biden Trump is a real leader biden is a puppet bought an paid for puppet
@@saythankyou111 No, not even close. The money before the 60 billion was around 20 billon so the total is 80 billion which again is not even 2% of the COVID spending which was 5,000 billion. Don't spread fake information.
And illegals
Amazon's political friends allow shoplifting in California its up to $900
I never thought about it from that prospective interesting for sure.
@@EnlistedBombin Covid was proof of this small stores had to close while walmart was essential
most logical thing I’ve ever read 💡 💡💡 moment
Because of theft shoplifting, don’t let him tell you anything else. These stores can’t afford to stay open so you did it to your own neighborhood and not deal with it.
This is going on in the RICH areas, too!! Nothing gets done!! Time to GTFO! You're not too bright to spend 30-40k+ in property tax to have vermin all around you.
Not a chance this could be due to the crime.
Are you under the impression that every store in the United States is having an issue with crime? I hope you're trolling.
@@larynOneka8080 Impression? No. Every store in the United States? No.
@@larynOneka8080 Remember, We don't assume, We investigate. Just a facts.
Another inept analysis.crime, crime, crime.
What's your last name Biden😅😅😅
The people making comments here, make more sense than this reporter.
Its not because of inflation. Its because of retail crime and a ridiculous high minimum wage.
All three.
@@IndianOutlaw1870 the inflation although not good, it is purely based on corporate greed. Excessive profit taking at the expense of the American people. Same thing as 2009. The economy crashed. Corporate America immediately raised the price of everything because the gas companies all jacked their prices up. It goes hand in hand. And they never reduced prices back to what they were. They figured out they can keep raising prices and people have no choice but to pay. The republicans fought every attempt to control it just like the are now. If you do not control the oil companies they will destroy america right along with the republicans. To prove my point the gas prices are as high as ever. The COVID pandemic is well over. Why haven't the prices started coming down. Because the republicans refuse to work with the democrats to reign in corporate America. The biggest contributors to the republican party.
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@@katiesioux7757 cool name and you have a really nice leg.😁
All of the above.
WA just needs to tax them harder.
"The beatings will continue until morale has improved."
México has lower taxes.
Well WA has no income and NO corporate tax so please explain what you mean by taxes?
@@drscopeify purchasing inventory is taxed a lot!
@@drscopeify $70 billion dollars doesn't just appear from thin air every year. That is $15,000 per person of working age (18-65). And it doesn't include the local county and city spending.
Capital gains tax is an income tax, property taxes(for commercially zoned the states estimated value to a company, not actual realestate market value), sales tax, B&O tax, use tax, a variety of excise taxes, carbon tax, timber tax, highest hootch and dope taxes in the country, various luxury taxes like the one on restaurant food, fuel taxes (not carbon tax), a whole slew of fees tacked on to vehicle licensing, fees from many other unjustified licenses,...
@@drscopeify sin tax, infrastructure we voted down, housing, 18k per kid annual schooling.
Look at the whole scope of anything and then question it's function
All brick and mortar businesses are hurting. Business buildings are also sitting empty..
On-line 🏆
Sloppy Joe and The Ho need to go!!!!
I'm voting independent this time
Wasted vote
Ya waisted vote .you need to vote Trump
The conversation is always "we can't pay people enough to be profitable" but it's never "people aren't getting paid enough to live". The CEOs of these companies, even when their companies are dying, are still living amazing lives, in their paid off mansions. Meanwhile, the regular people struggle on a daily basis and can't even afford an apartment, let alone a home. If you actually paid people enough to live, maybe you'd see more consumer demands, because the consumers actually have money to spend, geez, is that so hard to get?
You answered your own question. The CEOs are living good.
you spelt theft wrong
You didn't capitalize your sentence. 🫡
Thanks democrats
trump started the stimulus checks, and he started the inflation... every 4 years, y'all blame the current president for what the last one started ... some of yall have no mind of your own, just slow as hell
Maybe the producers of the products should pay more attention to the prices of their goods and a bit less to CEO salaries and stock options.
I just left ampm 5 mins ago and they're charging 4.99 for 16oz of water. I left the store empty handed.
Don't they often have water fountains? Walgreen's does.
Government greed and delusion is what's causing closures. BEST ECONOMY JOE
People who can't Cook better learn because all that eating out is gonna end one day
Cows closing, chickens moving to other states.
Inflation was at 9% when I became president... corn pop
Not just inflation you don’t think high minimum wage isn’t a problem along with crime💵💵💵💵
Thank a Democrat
To be fair, all those stores suck
In the state of Washington, the minimum wage has almost doubled in the last eight years, and benefits like paid medical leave have been added. Combine that with a lack of labor and issues like crime and shoplifting, and it's no wonder many stores are closing.
Yeah BUT WA state has NO income and NO corporate tax so keep things in perspective my friend.
@@drscopeify But in everything else they are in top 5 in the country. In things like housing costs, insurance costs, gas costs this state is one of the most expensive in the country.
@@drscopeifymaybe the state should stop giving the tax breaks to boeing and other large corporations if you're so concerned with revenue.
@@kamman1374 Nonsense WA state gets way more back from Boeing than anything it gives them. It is not even comparable. I am not worried about revenue WA has a very healthy budget and a super diverse economy, one of the best in the country. I am showing you just how good it is in WA state that you have no income tax and even property tax is capped at 1%.
@@Karmazov WA state is pretty cheap, Hydro = the cheapest electricity in the country, pretty cheap insurance at least for me, no income tax, 1% cap on property tax, a lot of food is gown in WA, most of the Onions, Apples, Pears, peaches, Corn you eat, edible corn in the US, berries, cherries, giant chicken farms like in Yelm WA which is why I pay $2.99 for a dozen eggs
😅😂$20 minimum
Just open a taco stand… no need to pay any taxes or worry about rent :)
genius idea, the government would just send the tax money overseas
They have Inslee and Newsom to thank.
How am I going to steal food now
lol lies we all know it's soft on crime. to expensive to lose so much to theft.
Poor Seattle the prices are ridiculous there for what you get, and see around you. But the hidden gems in WA along the Puget sound are undeniable!
Shhh... 🤪
@@Mauser1965I can’t wait to go to girl on UA-cam giving up information…lolz
I just don't have the money stretched like I used to.
It's pretty much impossible for "sales to keep up with inflation" when inflation is high.
I call bull. Why? When virus started, I was doing well. Dog food was 52.00 for 30 pounds. Aldi trip ran about 50-60 bucks. 75 on the high side, 20-30 on the low.
Now?? Dog food is OVER 100.00!! Aldi? Can't walk out of there for less than 120 bucks now!!
I bought 2 loaves of Breadsmith bread, which was 5 bucks not long ago, and is now like EIGHT DOLLARS! So, 3 bananas and a snack bar, w bread cost me TWENTY DOLLARS?? WTF??
I work for rich people on 24/7 job. They gripe every time prices go up, too! Still driving a 70k Rover, tho...
What'll happen is I won't be able to sustain it. It isn't worth it now, really...
My MONEY didn't double, I stf know that much!
Don't be an AH when your people tell you they're now struggling.
For a fact that Rue21 was under bankruptcy threshhold for a LONG time. CVS has ALWAYS been a rip off with escalated pricing and people are not paying their insane prices on goods.
Dollar stores overbuilt in the 2010s so much so that some communities passed ordinances on how densely the stores could be built. Dollar Tree merged with Family Dollar, so there isn’t a need to have both within a mile of each other.
One Dollar General in Dunning (Chicago, by Norridge) got closed for unsanitary conditions!! Eww.
You get what you vote for so eat it.
It's crime, terrible service, and high ass prices. I'm just over going out and possibly being a victim of some hoodlums in hoodies. I get all my stuff from Amazon. It's not worth it going out to these stores with horrible customer service, everything is locked up and takes 30 minutes to get toothpaste and toilet paper.
Getting all our stuff from Amazon was always part of the plan. That way only Bezos makes money.
Hollowed out, like UA-cam employees.
Yes! Ask the bar rescue guy and the guy who ran Toys R Us that went bankrupt seven years ago to be your resident experts is a hoot! lol
“And that my friends, is Biden-omics” -Kamala Harris
Record profits are the real cause of inflation
Can’t believe this is happening in USA. It’s going to be third world country soon. 😂
It already is.
Theft more lol
Very sad smh
No more drugs is a good thing. Change the food culture in America. Let food be your medicine. Demand more healthier ingredients
As long as CEO pay is in the millions, I know who to blame.
There’s nowhere to get prescriptions now. I use to have like 4 options within walking distance, now they’re all gone 😩
These stores are not closing because of inflation. These businesses have been failing for years. No one shops at brick and mortar stores ever since Amazon and other online retailers put everybody else out of business. While 3,400 stores announced their closing, at least 2,700 stores are expected to open in 2024.
I have a farm i grow my own veggies. I grow tomatoes, corn, lettuce, squash. We have a lake nearby for our fish. I have a few chickens for our eggs too.
Blame the people on minimum wage yes they caused this 🤣😂🤣
Yeah BUT WA state has NO income and NO corporate tax so keep things in perspective my friend.
The last few years were just the last straw on the camel's back.
Catalog mail-order competition has always been around, online purchasing is not all that revolutionary.
These stores have all set themselves up for failure with many years of incompetent and lazy management, half of them can't get very basic stuff right like consistently accurate price tags or restocking.
When you point it out, the employees either give a dumb confused look or they know about the problem and are frustrated because management won't fix it.
Don't even get me started on the increasingly terrible merchandising of the past two decades. The attempt to replace intelligent human coordination of products with overly simplistic algorithms based only on recent sales trends, with no understanding of how product selection works as a larger set or bothering to know WHY customers are picking one item over another. Let alone an understanding of what people would prefer to purchase locally vs online.
Then you get the occasional halfwit customer survey which is clearly bias to supporting someone in management and really doesn't want to know any actual useful opinions or information.
Your comment is the only well thought out one in this comment section. The political dunces will blame each other’s party because they are brainwashed and can’t think about an issue critically. I would add to your statement that the amount of retail theft around the entire country is high profile, but so is package theft from residences. The clickbait title of this video is a tell of the posting party’s political lean. Just more propaganda
Pretty much everyone will concur, as do I. Consider malls and drive-in movie theaters. And corporate in many cases have no clue as they sit in their offices without getting out on the ground level to observe what's going on, but merely stare at a spreadsheet and graphs to while the front liners in many cases do not or have not been trained, to which we cannot hold them at fault. Not to say that there are not good management ones who haven't forgotten what it was like being on the front line who actually teach and train those whom are a part of the team as a whole and not just an expendable number.
You're missing the deeper reasons.
Let's back up. Look at Mad Men, S1, how they explained Marlboro. It was a WOMEN'S cigarette, just as Mustang was a young/women's car.
Look at the Edsel and why it failed. The front end has a weird shape that doesn't scream masculine. That's why. Would anyone have verbalized it? Unlikely.
@@windsofmarchjourneyperrytr2823 Who are you replying too?
Why didn’t this report list the retail stores closing?
Theft
You mean because of mass shoplifting!!!
And that one youtube channel talking more details on this they are correct its scary times we are in
pharmacies were closed because of results from lawsuits for providing prescriptions for Oxycotton. Rents are high and greed is rampant in America too.
I can't understand with inflation, why do people want to pay for shipping on everything they buy? Are they so lazy that they can't go to a store that employs folks in there own neighborhoods and communities? I've used Amazon and other online companies, but still try to buy local first. Especially with anything electrical or electronic.
Shipping employs local people, right?
@@striker44 yes, at at the supplier's end, between, and at the local end. Worked some shipping and receiving myself.
BuT tHe EcOnOmY is GoOD
As prices keep going up, think people are really trying to buy just what they need
Keep voting D, Seattle. Incredible.
Protecting CEO’s and stockholders.
Hollywood’s iconic Arby’s?
NOOOOOOO………!!!
Nasty. Is that even beef? Yuck. Go to Aldi and get GOOD beef, Bueno, five pounds for about 10 bucks!
These companies have been failing for a decade. It's not inflation or minimum wage increases.
With landlords taking all the money, there isn't any left for food and clothing. Close your stores and turn then in to housing. You'd make more money. Landlords are raking in billion$.
I wouldn't deal w S8 bs for ANY amount of money. Too much entitlement, and some people think it should all be free, when they do NOTHING to earn it. I've seen 5 ADULTS trying to rent, NONE had a job, plus copped a huge attitude about app fees and move-in fees.
Reminded me of the Bob Newhart show in the 80s. This rude loudmouth guy blamed everything on racism, and Bob finally says, "It's because you're a JERK!" Then he was cured.
In the case of Macy's....Don't get political. How many people have been avoiding them because they did? I know we have.
Exactly, this is why I boycotted kid rock and my pillow.
All those stores are useless. Businesses close because of poor management and not keeping up with times. Couple added elements are crime and governments. Fix law enforcement and your government and things will get back on track.
Good, let these big companies go out of business. It's time to bring back mom and pop shops.
Watch prices go up more after that, tho. You'll see.
There have been FAR too many places to buy stuff in America for at least the past 25 years. [How many starbucks and jamba juice stores do we actually need? ] This is actually good news - blaming it on "inflation" is just ridiculous, however. Any retailer faced with an increase in the cost of the products they sell simply raises the price they charge. Since every retailer is living under the same rate of inflation, it can't hurt your business, since everyone else has raised their prices too.
I haven't walked into either in years. You'd be not too bright to blow over 5.00 on a CUP of coffee, when a WHOLE, HUGE bag is next to nothing per serving.
@@windsofmarchjourneyperrytr2823 Well, looking at the whole picture, you're not paying $5 for the coffee, you're paying $5 to have someone prepare it for you. The coffee itself, as you point out, is a fairly trivial expense.
But my point wasn't about the cost - it's just that we have, for many years, had literally too many places to buy stuff to be sustainable. Stores were closing because of this overbuilding years before the pandemic or homeless crisis hit.
Inflation is not closing stores. Unchecked store clearing levels of shoplifting is closing stores. Fastfood spots closing as they have been waged out of business.
I watched a fred meyer and a walmart turn into Asian supermarkets. Still are both food stores.
The Democrats and politicians that run the east and west coast states do not care how much they hurt others.yes most of these big corporations are definitely partly to blame especially when they have their crooked lobbies passing laws.
Biden admin acts like this is the best economy since world war 2 all while we go into a recession.
Thanks big Joe keep up the good work.
Across the country, but only in certain cities...🙄🤔🤦♂️
Sure hope enough people remember this pain come November
Fuck…we are doomed
Yay about time
I like the modest attire on these newscasters instead of the typical "lingerie." 🎉🎉
Scary
Employees are the ones running out customers!!!! Customer service is dead.i personally prefer online shopping cuz you get treated like a criminal instead of greeted with smile.
The” CAUSE”…(?)
January 20th, 2021
And some Fed bigwigs are saying the economy is doing fine and on course.
Kelly o dear lord 🔥🔥🔥
Downtown Seattle looks like a warzone. So many street zombies
People saying its not inflation. 😅
It's a mixture of things. Inflation, theft, minimum wage, etc.
@bane3991 I disagree. It's plain and simple greed. It's been that way for many yrs. It's just getting at It's breaking point now.
@@stevenledbetter80 How is greed causing them to shut down?
@bane3991 greed is what raises prices to the point no one can barely afford. It's not hard to figure that out.
@stevenledbetter80 That's a myth that anyone with a basic, entry level knowledge of economics can refute.
I'll do so in detail.
If you can just jack up prices than a new iPhone would be 100,000 not 1,000. A gallon of milk would be 500 dollars not 2.50. I'll explain the concept of "supply and demand" to you. You have a certain supply that you need to sell through to maximize your revenue. If you set prices too high, you sell less inventory resulting in less revenue. You set them too low you face a shortage and not maximizing your revenue. So you need an equilibrium price. The same way you can't just buy a video game for 70 dollars and then say "I AM GOING TO PRICE GOUGE AND SELL IT FOR 200!!". You can't just jack prices up to whatever you want and expect people to pay them.
No, companies aren't being greedy and setting prices above the equilibrium of supply and demand and purposely putting themselves out of business.......that makes no sense.
Get Facts Correct!!! Inflation is DOWN!!
It's at 3% currently
It's not consumer spending. It's brick/mortar sales down
All the comments are correct.
It's not just inflation. More people shop online since the pandemic.
I don't like the bad websites. Ie, you think your local store has X and they don't!! Best Buy is HORRIBLE w that!
Bad websites. Best Buy site says they have X and they don't. A scam, b/c the longer you waste there. The more you spend!
We the people can't afford rent and food in the US. What did these corporations expect?
We left the country in 2015 for a more affordable lifestyle overseas in SE Asia. Prices are rising here, though, and have a lot…but it still allows us a good lifestyle which includes weekly massages…often twice a week. Son and daughter live in California, both gainfully employed and homeowners, but …