The U.S. consumer may be on the mend as we head further into 2011, but the same story of resurgence does not apply to many of the U.S. big-box retailers.
From Wal-Mart to Sears to Target to Best Buy, if you look at what is happening in the retail space, “it looks pretty scary,” says retail expert Howard Davidowitz.
Wal-Mart — the world’s largest retailer – has seen six consecutive quarters of negative same-store sales and is now looking to put the majority of its investment capital towards emerging markets.
In the case of Target and Best Buy, they both recently missed major key earnings expectations. Making matters worse, Best Buy “tanked” even without the competition from the now defunct Circuit City, Davidowitz points out.
Tale of Two Stores