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People Actually Believe This Crap?
Walmart's latest deal confirms the death of the middle class....
"That's why today, both high-end retailers and discount retailers are thriving — or at least surviving — while companies that relied heavily on middle-class spending, like Macy's, Sears, and JCPenney, are closing hundreds of stores."
Nothing at all to do with the internet I am sure....
I don't know. Sounds logical to me. I buy from Walmart online and can get delivery free . Same as I did from Penny's Sears and others. If the box stores don't have internet sales they are just stupid.
That said the dissolution of the middle class is real and Walmart is just re evaluating their businesses position to succeed in the coming years. As any good mgmt team would
Walmart owns Jet.com, which handles Walmart's internet orders for them. Internet sales are a significant part of Walmart's sales.
What's not to believe? People buy things and Wal-mart is in the business of selling.
I just attended an investment meeting on this very topic. Walmart is positioning itself to fend off Amazon. Amazon is buying brick and mortar to position itself against Wal-Mart. The decline of retail is over stated . Sears, JC penny even target have positioned them selves poorly but thier decline is more about business fundamentals. Only about 9 % of sales Worldwide and in the US are online. But that is going to change rapidly. My kids never go into a retail store unless they need something today.