Store Closures Due to Pro-Criminal & Inflationary Policies
According to a recent The Center Square Voters’ Voice Poll, more companies declared bankruptcy and shut down operations this year, citing inflation and high costs. Shoplifting is part of the high costs.
Unfortunately, inflation will blast off due to other factors as well: wars, tariffs, Red Sea attacks, and shipping container rates.
According to Corsesight Research, over 4,600 stores closed in 2023, an 80% increase from the previous year. Other stores always manage to open, of course, but the stores closing are the stores that have had the most stability.
A recent analysis from CoreSight Research, retailers are closing nearly 3,200 stores this year, a 24% increase from 2023, CBS News reported. That’s 24% over an 80% increase in store closures.
According to CoreSight, here are just a few of the retail closures so far in 2024:
- CVS Health (315)
- Eleven (272)
- Rite Aid (165)
- Walgreens Boots Alliance (77)
- Macy’s (51)
- Burlington Stores (39)
- Foot Locker (36)
- Carter’s (30)
- Abercrombie & Fitch Co. (22)
- Best Buy (9)
Store Closing in 2024 pic.twitter.com/HC3Axr7405
— Shazi (@ShaziGoalie) May 23, 2024
These residents are angry at Safeway for closing, but crime is rampant under Democrat crime policies. Their anger is justified but misplaced.
Local black community is angry at Safeway for permanently closing the store in their neighborhood due to rampant shoplifting and looting.
They should be angry at the ones doing the shoplifting instead, take some responsibility perhaps. pic.twitter.com/S9G2y5EPKu
— iamyesyouareno (@iamyesyouareno) January 11, 2024
Dummies like Ayanna Pressley encourage illogical, ideological thinking, ignoring facts and reality.
‘Squad Member’ Ayanna Pressley Accuses Walgreens of ‘Racial and Economic Discrimination’ in Store Closures
‘Walgreens is a multi-billion-dollar corporation that needs to put their money where their mouth is and stop divesting from Black and brown communities.’ pic.twitter.com/jJGjgb8cbs
— Unlimited L’s (@unlimited_ls) February 1, 2024
The San Fran Solution
San Francisco wants to force grocery stores to give six months’ notice before closing or being sued by citizens, and they want the grocery store to find a replacement. It’s true. The bill is ready to go.
Two progressive San Francisco lawmakers are pushing a bill that would allow residents in the crime-ravaged city to sue grocery stores that close up shops if they don’t give six months’ notice.
San Francisco Board of Supervisors members Dean Preston and Aaron Peskin’s proposal is called The Grocery Protection Act. It is based on a proposal the board approved in 1984 that was vetoed by then-San Francisco Mayor Dianne Feinstein. They are ignoring the cause of the rash of retail theft: the city’s drug and homelessness crisis, which has led to several business closures.
Whole Foods closed its Market Street location last year after there were 568 emergency calls lodged in a 13-month period due to incidents such as vagrants throwing food, yelling, fighting, and attempting to defecate on the floor, according to the New York Times. At least 14 arrests were made at the location.
Progressive policies did this.
Unfettered crime is unconscionable, but she thinks it’s Safeway’s fault:
She’s mad her Safeway grocery store is closing in San Francisco.
She mentions “Food justice.”
Pro tip: Don’t loot your grocery stores to the point that they are unprofitable. They will close.
— Wall Street Silver (@WallStreetSilv) January 11, 2024
If you wanted to destroy capitalism, wouldn’t you destroy all the brick-and-mortar stores first? Just asking.
Wokesters Think This Is the Time to Burden Store Owners Even More
In California, Woke Gov. Newsom raised the minimum wage for low-level jobs, forcing thousands of businesses to close because they couldn’t afford to stay open.
CA Gov. Newsom Disputes Reporting of Fast-Food Jobs. According to the Post, ten-thousand jobs have been cut in the industry since California instituted a 20-dollar-per-hour minimum wage. https://t.co/17UaCClttQ
— 790 KABC (@KABCRadio) June 20, 2024
No more Arbys.
California’s recently-enacted $20 minimum wage has claimed another victim, as Hollywood Arby’s closes after 55 years. This is just one of many recent casualties in the fast food industry. Many stores closing & jobs lost. Sad and unnecessary. https://t.co/UjVpqzJRo8
— Roy Parret (@RoyParret) June 21, 2024
Joe and his progressive Democrat handlers are building back better.
Joe Biden brags about Bidenomics:
“We have the STRONGEST economy in the world!”
Do you agree with Joe? pic.twitter.com/mAGTM3dFhv
— Proud Elephant (@ProudElephantUS) April 17, 2024
The Other Factors
Consumer Goods Prices will increase this year, particularly around the holiday season.
Joe Biden announced in May that Washington would enact punitive tariffs of $18 billion on Chinese goods, including electric vehicles, battery parts, and solar cells.
In April, Biden threatened to triple a 7.5% tariff rate on China steel and raise the aluminum tariffs to 25%.
As a result, China is rushing goods to the US, but it doesn’t have enough shipping containers, and shipping rates are at a two-year high.
Attacks in the Red Sea weaken global trade and increase the cost of goods.
The war with Russia is extremely expensive, and it looks like costs will be meaningless as threats of nuclear war abound.
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