I recall the market, circa 2005ish, was completely and absolutely ruled by retail stocks. The fate of hot growth companies like True Religion and Abercrombie and Fitch made the market. People would readily and proudly profess the US was a retail nation, citing the fact that 70% of our GDP was derived, more or less, from consumer spending.
Back in those days, Amazon was only doing $1-2 billion in sales per quarter, a very anemic number when considering they do upwards of $50 billion per quarter now.
The malls were brimming with people and the lines were always long. There was a certain energy you could feel when in a certain store, in a certain locale, and it made you buy the stock. I recall making a small fortune based off some decent experiences inside Sears back in the days. Now the place is a cemetery.
The kids these days will never know what it’s like to be a mall-fag — gallivanting to and fro in order to cash in coupons and beat the weekend crowd. Those parking lots were hard to navigate and spots near the doors were almost impossible to grab.
How about this for a sad stat.
Back in 2005, Macy’s did roughly 4x the revenues of Amazon, at around $5-6 billion per quarter. Today, Amazon does 10x the revenues of Macy’s, who unbelievably, still does $5 billion per quarter.
The mall will never be the same. Sad, believe me.
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I remember many evenings spent at Barnes and Noble when I was a poor student. Ah, Mr. Fly. It’s futile to look back at how things used to be. We can only follow the path to its end.
DBX get some now
Suburbs are hell and now you can’t even hid out in the mall. Move back to Brooklyn for the sake of your kids.
Brooklyn isn’t even Brooklyn anymore. It’s like suburbs.
I was never a mall-FAG … good riddance to the mall