by Terresa Monroe-Hamilton | April 25, 2016 9:08 am
Just what America needs… more lost jobs… more businesses closing… and it is all thanks to Obama. He’ll keep on crowing that we are doing better when everyone can see we are doing worse. We have been in a soft depression ever since he came into office and it has been steadily worsening with each passing day. It doesn’t matter how they manipulate job numbers or the stock market; when you have 1 in 5 families where no one works, that is called a depression. That means at least 20% are out of work and in reality it is closer to 30%. Sears just announced they will close 10 more Sears stores and 68 more Kmarts across the country. This is on top of hundreds of stores they have closed already. Sears hasn’t turned a profit since 2012.
From the Conservative Tribune:
It was the latest sign of America’s economic decline under President Barack Obama: Retail giant Sears announced that it was shuttering 78 stores across the country.
According to CNN, that number includes 10 Sears stores and 68 Kmart stores, which are owned by the Sears brand. Hundreds of stores have been closed in the past few years, but that still wasn’t enough to stop Sears from incurring a $580 million loss last quarter.
The retail giant has not turned a profit since 2012.
“The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability,” Sears CEO Edward S. Lampert said. “We’re focusing on our best members, our best categories, and our best stores as we work to accelerate our transformation.” I don’t know how many jobs this means will be lost, but as bad as things are, any is too many. The 130 year-old retail icon, founded in Chicago in 1886, wasn’t the only one cutting jobs or stores. Another two retail giants, Macy’s and JCPenny, shuttered 12 and 39 stores, respectively. How long can we take this before America faces the fact that we are in a prolonged depression and the only thing that will get us out of it is cutting taxes, reducing regulation and limiting big government intrusion? We need Ted Cruz as president.
Source URL: https://rightwingnews.com/economy/sears-makes-shocking-announcement-obamas-america-strikes/
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