The economy is going well. You are spending the extra money you have thanks to tax reform and other moves made by the Trump Administration. But there are big name retailers that are not riding as high as others. In fact they face the very real possibility of going out of business.
Some of them are big names. Sears is struggling and has done so for years. JC Penney is struggling, too. We already saw Toys R Us go out of business. Lone Star College economist Hank Lewis told KTRH that there are a lot of CEO's that just never thought they would lose business to online retailers like Amazon.
“Many in leadership felt that customers would stay loyal and would not want to buy something from a website that they can’t put their hands on,” Lewis explained.
But they were obviously wrong, and now Lewis says some of these companies that are in danger of going out of business might need Amazon more than they realize.
“I think if they were to partner with Amazon, that they may see revenues grow and may be able to stave this off,” Lewis stated.
Other big name retailers that are facing these issues include Office Depot, Barnes and Noble, GNC and Foot Locker.