Click to enlarge.
All exponential trends eventually fail. That said, this exponential trend could theoretically fail at infinity should the last department store shutter its doors.
November 14, 2012
Two fund managers disclose stakes in JC Penney
On Friday Penney reported that sales tumbled 26.1 percent during the third quarter, news that sent its shares down some 26 percent in the last five days.
Ackman is staying the course, telling anyone who will listen that when Ron Johnson, the former Apple Inc executive he handpicked to revive Penney, completes his job "you will shop at J.C. Penney."
Ackman is staying the course, telling anyone who will listen that when Ron Johnson, the former Apple Inc executive he handpicked to revive Penney, completes his job "you will shop at J.C. Penney."
Bill Ackman clearly doesn't know me. As seen in the following chart, I wonder if he knows retail trade employees any better?
Click to enlarge.
You can't shop without a job. For those keeping track at home, we are 9.4 million retail trade employees below the employment trend that was 51 years in the making. Why? Well, one reason is that nonstore retailers like Amazon.com simply don't need as many employees per dollar of goods sold.
Occupational Outlook Handbook: Retail Sales Workers
Employment of retail salespersons is expected to grow 17 percent from 2010 to 2020, about as fast as the average for all occupations.
Good luck on that theory. As seen in the chart above, there's been ZERO growth since 1999. You've got to be pretty darned optimistic to think retail trade employment will miraculously change for the better.
July 19, 2012
JCPenney’s To Eliminate Check-Out Clerks
In an email, a Penny’s spokesman would not say how many jobs would be lost, saying instead this new check-out would actually free employees to help customers in other ways.
I have no doubt that many employees will be freed.
Source Data:
U.S. Census: Monthly Retail Sales
St. Louis Fed: All Employees: Retail Trade
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