Most of the problem indeed has to do with Obama’s failed economy, but there are other factors too. One is that a number of retailers such as Penneys and Sears are located in shopping malls. Malls are in decline. For many it has to do with security. Crime is rampant. One of the local malls on the other side of town underwent a complete renovation 2 years ago. Then last Christmas there was a shooting in Macy’s. Husband and wife — innocent bystanders were shot. The husband was in grave condition for a time, but thank God he recovered. Now the mall is in serious financial trouble. People just feel safer staying home and ordering online, rather than risk serious injury or death just by shopping at a mall.
I go mall walking from time to time at a mall close to home. Every January one or two stores close after the holidays. This year it was 4. Small retailers have been particularly hard hit. But things are really bad when the big name stores like Walmart, Penneys, Macy’s and Sears go belly up.