No stock picks today.
Here are some quick earnings headlines and closing announcements from major US Retailers:
- Macys – Macy’s shares plunge after huge earnings, sales miss – CNBC.com
- JC Penney – JC Penney’s stock hits all-time low on widening net loss, weaker sales …
- Sears – Sears Closing More Stores Than It Projected (SHLD)
- Bebe – Retail Death Watch: Bebe To Close All Stores By End Of MayThe tidal wave of store closures is far from over
- The tidal wave of store closures is far from over
See a pattern here? Even Warren Buffett is throwing in the towel:
- Business Insider – Warren Buffett just confirmed the death of retail as we know it …
Why is this happening? One word – Amazon:
- ZeroHedge – How Amazon Killed The Department Store, In Five Charts
- MarketWatch – Every time this happens, Bezos and Amazon crush another legacy retailer
Extra – Goodbye for now:
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