Day 116 of Nat'l Emergency: Reading, Shopping, Fixing and Trump's Bucket List

What 10 years of retirement couldn’t accomplish the coronavirus did in less than three months. I’m finally reading books. 

A disappointment of my retirement is that, with rare exceptions as for a course I might be taking, I never engaged in reading novels or non fiction books. Shameful. I know. 

In the four months since quarantine began, however, I am averaging a book a month, spurred on, I readily admit, by Gilda’s voracious reading appetite. 

I used to explain my lack of reading by saying reading put me to sleep. Part of my apnea condition.

Now, when I first lay down in bed, or when I wake up in the middle of the night and cannot readily fall back to sleep, I wind up reading 45 to 90 minutes. As there’s no rush to wake up early the next morning, I simply tack on extra hours before rising from bed. 

I’m still ashamed, but less so.

Gilda Is No Golda: As in “Fiddler on the Roof.” She doesn’t want to hear, much less interpret, my dreams.  

Must be because I’m no Tevye. 

Trader Joe’s has it in for me. I shop very selectively at Trader Joe’s. I’m only interested in dark chocolate mint candies and dark chocolate mint cookies, the key being dark chocolate is better for you than milk chocolate. 

Twice in the last few months, however, the specialty grocer has discontinued two dark chocolate mint cookies I found irresistible.

After a futile Internet search for comparably priced cookies I stumbled across a slightly higher priced alternative at our local Stop & Shop. 

For now the mint candies are still being sold, but I am wary Trader Joe’s does not realize a third strike would end my patronage.

Rain Man: It’s about to thunderstorm outside as I write this note Friday afternoon. Rumbles already have presaged the downpour. But as anyone who has recently driven past the Grassy Sprain reservoir can attest, the water level is the lowest in years, if not decades. Since we’ve had few drenching rain days this year I wondered if we were subject to drought conditions made all the more severe by our constant hand washing.

Mind you, I’m not complaining about sunshine filled days. Our solar panels are offsetting all or most of the cost of electricity to run the air conditioning. But upon returning home the other day after seeing the reservoir for the first time this year I googled an inquiry.

Apparently, regular maintenance on the spillway and gatehouse gates began in January that necessitated draining most of the reservoir to a level that would allow work but not kill any of the fish in the lake. It will take at least half a year for nature to refill the reservoir.

Just thought you’d like to know.

Home Improvement Tip of the Day: After doing two loads of wash and putting in towels for a third our 10-year-old Kenmore washing machine wouldn’t start. I called Sears Home Services and set up an appointment.

There was a glitch in the electronic ignition. I anticipated a costly repair bill or, more probable, purchase of a new washing machine.

The repairman said he’d try a trick to restart the machine. By simultaneously replugging the washer into a socket while pushing repeatedly on the power button the machine might start. It did! 

Thank you repairman. Thank you Sears. Coincidentally, a week later Reuters reported that Sears is considering selling its repair and home improvement business (https://www.reuters.com/article/us-sears-homeservices-exclusive/exclusive-sears-exploring-sale-of-home-improvement-business-idUSKBN242780).

Stockpiling Over?: Here’s another news flash: At least in Westchester County, coronavirus-inspired hoarding seems to be a condition of the past. 

During recent trips to Costco and Stop & Shop there were no lines to get in, checkout was hassle free and products, even toilet paper, were plentiful. More importantly, everyone was wearing a mask.

A product that might be in short supply in apparel stores, depending on your neighborhood, are Hawaiian shirts. Seems the flowery, loose fitting tops are a must-have for creatures of the dark side of heavily armed right wing extremism (https://www.nytimes.com/2020/06/29/style/boogaloo-hawaiian-shirt.html?referringSource=articleShare).

Who knew a symbol of paradise could be turned into a symbol of hate?

Bucket List: There’s a simple explanation why Donald Trump is proceeding with an extravaganza at Mount Rushmore to commemorate Independence Day despite state and national officials warning it is unwise to have a fireworks display over parched land witnessed by thousands of unmasked, not socially distanced, attendees. 

The ego-boosting celebration is on his bucket list.

Unless he wins reelection, tonight’s big show under the stoney eyes of four presidents, none of whom Trump considers greater than himself, would be his last chance to display presidential upsmanship.

I wonder how many Hawaiian shirts will be worn by the 7,500 expected attendees?

Why Are So Many Stores Closing?

Perhaps you’re wondering why soooo many chain store retailers are closing sooooo many stores, especially after what has been hailed as a gonzo holiday season. To be sure, after every New Year retailers have always pruned deadbeat locations. But the numbers going into the trash bin of history are dizzying. More than 9,000 store units closed last year. A higher number is predicted for 2020 (https://moneywise.com/a/chains-closing-the-most-stores-in-2020).

The names coming off marquees across the country include some venerable labels: Sears, Kmart, Macy’s, Forever 21, Pier 1 Imports, Gap, Chico’s, Bed Bath & Beyond. Why is the contraction reaching unparalleled heights? Though each chain has its own problems, there are common threads that have unraveled throughout the retail industry.

Start with the fact that in the United States we are overstored (forgive me for not providing actual statistics, but after 32 years covering the retail industry as an editor and publisher of Chain Store Age I am taking retirement privilege and just providing trend analysis. You’ll have to trust I know what I am talking about).

How did we get overstored? No retailer thinks their store is not desired by voracious consumers. So when real estate developers pitched less than A+ locations they signed on the bottom line, sometimes induced to do so as the price of landing a truly A+ spot in a different coveted shopping venue owned or operated by the same developer. The developers, of course, needed those tenants to get their construction loans. Thus, it is no wonder that stores in secondary market are closing and with them secondary market shopping centers.

Everyone wants to blame Amazon and other Internet retailers and before them Walmart, Target, Home Depot and an assortment of big box retailers. Yes, they all contributed to the blacking out of storefronts on Main Streets and in strip centers. They killed off lots of independent merchants and weaker chain stores. As for Internet retailing, it still accounts for just about 15% of all sales.

So what’s behind the tsunami of store closings? Lousy merchandising choices, for one. For apparel and fashion home goods stores, if the wrong stuff is put up for sale customers will stay away in droves. As rents and labor costs are high, the combination with the cost of goods put retailers in a swimming pool of red ink.

Many chain stores have high levels of debt because private equity firms bought them by leveraging retail assets, mostly their leases or the land they owned for their stores, warehouses and distribution centers. When sales fail to meet budget expectations debt payments cannot be met. Suppliers refrain from selling them merchandise because if a company files for Chapter XI bankruptcy protection the law allows creditors to claw back all payments made in the prior 90 days. Suppliers fear being paid pennies on the dollar for their products. That’s why the first clue of a pending bankruptcy filing is insufficient product on shelves or clothing racks.

Failure to keep abreast of state of the art technology and distribution efficiencies are more harbingers of doom. Often it’s because companies did not have the cash flow to make the necessary investments. It’s a melting snowball effect in a red hot competitive industry driven by shoppers who demand instant gratification.

Let’s not overlook the polarization of our population. Not our political divide. The economic bifurcation. The fastest growing retail formats are dollar stores and food discounters like Aldi and Lidl, both European imports, that cater to families on tight budgets. Companies that serve middle income consumers are being squeezed.

Being a high end retailer doesn’t guarantee success. Barneys New York failed because of the aforementioned heavy debt load strapped on it by private equity owners. Toys “R” Us, which knocked off almost all toy competitors, succumbed as well from its private equity debt load. Toys “R” Us was never the price leader. It based its success on being in stock on the most wanted toys. When Walmart and Target matched Toys “R” Us on inventory management the game was lost. Walmart and Target had many more stores than Toys “R” Us in most markets, making it more convenient for shoppers to find what they wanted in their stores. Location, location, location. Three keys to success. Or failure.

Can you still make it in retailing? A resounding, emphatic, YES! Required are merchandise tailored to a specific audience; systems that provide seamless customer fulfillment and support; dedicated, driven staff from the top down; sufficient capital, and even more capital; savvy marketing including an Internet presence; and those historical three keys—location, location, location.

Successful retailers make customers their unpaid promoters. Think Trader Joe’s or The Container Store. A successful retailer would be missed if it closed its doors, missed not because it was nearby or a long time presence in a community, but rather because it brought excitement and fulfillment to the often mundane task of buying and selling everyday goods and services plus the occasional frills that make shopping essential and enjoyable.

Cracked Teeth

I’d like to blame AARP for my cracked tooth, but I can’t.

Let me explain. Thursday evening I was leafing through the December 2011/January 2012 issue of AARP The Magazine and came across a nutrition article entitled, “Go Nuts!.” It extolled the virtues of eating various nuts to lower “bad” LDL cholesterol. Almonds, in particular, also were said to reduce insulin resistance, a quality important to someone with borderline high blood sugar levels, as I am.

Friday morning I cracked my tooth on an almond. I can’t blame AARP, however, because almonds have been part of my breakfast regimen for more than 15 years. Almonds, cashews, raisins, red grapes, an apple, a banana, some cheese or Trader Joe’s O’s, with an ample helping of whipped cream—ambrosia of the gods, I call it—have nourished me most mornings.

So you see, it’s not as if I can blame AARP for turning me on to almonds. AARP should have be a little more circumspect in its suggestions, though, considering its age-based membership of 50-plus adults is prone to deteriorating dental work. Perhaps I should have taken a clue from the table of contents teaser copy for the story. It read, “Get Cracking.”

The first time I cracked a tooth on some food was slightly more than 20 years ago. I went to Los Angeles to meet with the president of Vons Supermarkets early one morning at a new concept store, Tiengas, targeted toward the expanding Hispanic community. It was a beautiful store, with lots of food preparation stations, including a tortilla maker in the middle of the store and more fresh food and meat cuts than I’d ever seen (you wouldn’t believe parts of a pig I saw displayed there that I’d never imagined people ate).

Anyway, at the conclusion of the store tour, I was invited upstairs to the manager’s office for some breakfast. As my cholesterol was pretty high back then, I deferred the offer of rancho huevos, essentially scrambled eggs. My host persisted, however, saying it would insult the cook who had come in early just to prepare the breakfast.

On my first bite I felt a crunch. I jumped back asking if the cook had left egg shells in the mix, only to realize I had cracked my tooth on the softest of foods. How embarrassing! How upsetting that I might incur a $550 dental bill for a crown, the going rate at the time.

Talking over my predicament several days later with a friend who headed our company’s human resources department, we agreed I would submit a worker’s compensation claim. After all, the only reason I put the eggs into my mouth was because the Vons president insisted. It was clearly a work-related claim, I reasoned.

The compensation board agreed. I received full reimbursement for the crown.

The same happy result cannot be related about the fate of the Tiengas experiment. Management closed the stores after determining Hispanics preferred shopping in traditional stores with enlarged ethnic offerings rather than their own supermarkets.