American company expects the demise of the retail markets
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Economy News Baghdad:
He confirmed the US billionaire Warren Buffett, CEO of "Berkshire Hathaway", that the retail sector will change significantly over the next 10 years.
Buffett said during the company's annual meeting, "has become stores now on the Internet, and within 10 years will change the landscape in the retail sector, the world has evolved, and will continue on this course, but the pace of development is on the rise." Buffett does not only seem pessimistic of the demise of traditional retail, but to withdraw his money from this sector as well.
It launched "Berkshire Hathaway" warning signals for the retail sector in February, when it sold $ 900 million of its shares in the "Wal-Mart" and chose instead to invest in airlines.
The sale of Buffett's shares in the "Wal-Mart" at a time when struggling the largest group of retail trade in the world to catch up with the company "Amazon".
In an interview with «CNBC» about the sales process, Buffett said that investment in the trade retail sector is very difficult, especially in the era of companies such as «Amazon», adding: «I bought a shop in 1966, and did not have any luck, as I bought the company Tesco in the UK and lost ».
The retail sector is witnessing massive unrest, where the number of American retailers to close a number of stores or notice of bankruptcy at rates not seen since the recession.
Announced that traditional retailers for the closure of more than 3,200 shop during this year so far, while analysts «Credit Suisse» is expected that this number will increase to 8600 shop before the end of the year, and by way of comparison, closed 6163 stores its doors in 2008, a the worst year for closures recorded.
And shops close their doors because of the rise of e-commerce and the shift in the way people spend their money, as has become shoppers devote a larger portion of their portfolio in spending on entertainment, restaurants and technology, with the decline in the size of their spending on clothing and accessories.
The hit stores like «Macy» and «Sears» to blow because of this new trend, since 2001, these stores have lost up to half a million jobs. The company issued a «Cohen AT & Stairs» Asset Management report supports this theory, the company that manages assets worth more than $ 58.5 billion to a radical shift in the scene of the retail sector is happening, what will reflect heavily on real estate investors expected.
http://economy-news.net/content.php?id=7509
Business & Finance Rating: 0
Added by as
Add a comment 12345678910 Add a comment
Economy News Baghdad:
He confirmed the US billionaire Warren Buffett, CEO of "Berkshire Hathaway", that the retail sector will change significantly over the next 10 years.
Buffett said during the company's annual meeting, "has become stores now on the Internet, and within 10 years will change the landscape in the retail sector, the world has evolved, and will continue on this course, but the pace of development is on the rise." Buffett does not only seem pessimistic of the demise of traditional retail, but to withdraw his money from this sector as well.
It launched "Berkshire Hathaway" warning signals for the retail sector in February, when it sold $ 900 million of its shares in the "Wal-Mart" and chose instead to invest in airlines.
The sale of Buffett's shares in the "Wal-Mart" at a time when struggling the largest group of retail trade in the world to catch up with the company "Amazon".
In an interview with «CNBC» about the sales process, Buffett said that investment in the trade retail sector is very difficult, especially in the era of companies such as «Amazon», adding: «I bought a shop in 1966, and did not have any luck, as I bought the company Tesco in the UK and lost ».
The retail sector is witnessing massive unrest, where the number of American retailers to close a number of stores or notice of bankruptcy at rates not seen since the recession.
Announced that traditional retailers for the closure of more than 3,200 shop during this year so far, while analysts «Credit Suisse» is expected that this number will increase to 8600 shop before the end of the year, and by way of comparison, closed 6163 stores its doors in 2008, a the worst year for closures recorded.
And shops close their doors because of the rise of e-commerce and the shift in the way people spend their money, as has become shoppers devote a larger portion of their portfolio in spending on entertainment, restaurants and technology, with the decline in the size of their spending on clothing and accessories.
The hit stores like «Macy» and «Sears» to blow because of this new trend, since 2001, these stores have lost up to half a million jobs. The company issued a «Cohen AT & Stairs» Asset Management report supports this theory, the company that manages assets worth more than $ 58.5 billion to a radical shift in the scene of the retail sector is happening, what will reflect heavily on real estate investors expected.
http://economy-news.net/content.php?id=7509
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