Now, it seems, a mainstream news outlet in California has picked up on the depression designation in a special report that shows that even the dollar stores are struggling.
This would involve Family Dollar Store, The Dollar General, and other such companies that cater to those looking for real bargains and that traditionally do very well when there is an economic downturn.
But in THIS downturn, even the dollar stores are struggling.
More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid America’s “Great Recession” — and one analyst said on Monday it’s another sign of even deeper downturn.If even Dollar Tree is struggling, then we know we are in the midst of something much worse than a recession.
While the demand at stores like the 99-Cent Store or Dollar Tree is still relatively high, the biggest chains in the nation have fallen short of Wall Street’s expectations for several months, a trend that may prove even more ominous for the economy at large.
“I think what’s going on in those stores is that we are in a depression for 80 percent of Americans,” top retail analyst Howard Davidowitz told KNX 1070.