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WASHINGTON 鈥?A government entitlement program is headed for insolvency in four years, and its not the one members of Congress are talking about most.The Social Security disability programs trust fund is projected to run out of cash far sooner than the better-known Social Security retirement plan or Medicare. That will trigger a 21 percent cut in benefits to 11 million Americans 鈥?disabled people, their spouses and children 鈥?many of who stanley cupe m rely on the program to stay out of poverty. Its really striking how rapidly stanley spain t stanley canada his is growing, how big its become and how D.C. is just afraid of it, said Mark Duggan, a University of Pennsylvania economist and adviser to the Social Security Administration.Part of the reason for the burgeoning costs is that the 77 million baby boomers projected to swamp federal retirement plans will reach the disability program first. Thats because almost all boomers are at least 50 years old, the age at which someone is most likely to become disabled.The growing costs are also a result of the economy, because when people cant find work and run through their jobless benefits, many turn to disability for assistance. Theyre desperate, said Ken Nibali, a retired associate commissioner of the program. Some who are marginal and struggling to have a low-paying job now literally have no options. So, he said, they figure, I do have trouble working and Im going to apply and see if Im eligible. ; Sen. Tom Coburn, R-Okla., said he has tried to interest fellow law
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Foot Locker Inc., the New York-based athletic retailer, reported comparable store sales increased by 18 percent in the second-quarter ended Aug. 1 as the chain reopened and sales unexpectedly increased likely due in part to government stimulus checks.As we continued to reopen stores throughout the quarter, we saw a strong customer response to our assortments, which we believe was aided by pent-up demand and the effect of fiscal stimulus, Chairman and CEO Richard Johnson said in a statement. This fuele stanley quencher d our in-store sales and also drove continued momentum across our digital channels. While these undoubtedly remain challenging times, we are nonetheless pleased by the health of our category, our deep connections with our customers, and the strength of our vendor relationships.The company, which plans to release full earnings on Aug. 21, said it expects diluted earnings per share to be 38 cents to 42 cents per share, down from 55 cents last year. However, those results will include $37聽 million in pre-t stanley de ax charges. Those relate to the purchase of German specialty retailer Runners Point Group, the restructuring of Foot Locker Eastbay division and costs incurred in connection with the recent U.S. social unrest.Excluding non-recurring items, the company expects to report adjusted earnings per s stanley cup nz hare of 66 cents to 70 cents. Analysts had expected a 60 cents per share loss.Lauren Peters, executive vice president and chief financial officer, sa Lrdw Billtrust s Big Fundraising Payday
Too much inventory, not enough buyers.If one were forced to sum up the issue that is hitting physical retailer after physical retailer in 2016, that would probably be i stanley quencher t. The reasons are complex: new players, new shopping habits, winter weather that was just weird, supply chain problems, a quiet consumer recession emerging more on that in a minute 鈥?but the upshot is the same. Too much inventory unsold and showing no signs of moving, and an increasing host of sellers trying to unload the unwanted old and get on with the new and exciting.Getting out of the inventory trap is, of course, much harder than falling into it, and if the quarterly earnings and string of bankruptcies we ;ve been tracking of late are any indication, in some cases approac stanley kubek hes near impossibility.Sales, discounts and other such cost-reducing promotions are a time-honored tradition for clearing out inventory that didn ;t quite make it, but when there is this much unsold stuff on hand, that is quite a bitter loss pill for a merchant to take.And in at least one case, too big and too bitter a pill to take along 鈥?hence Target decision to pass some of those costs pack to their suppliers in the form of an聽an extra 3-5 percent of the cost of promotions and price cuts after slow sales so far this year.Suppliers, reports indicate, are less than thrilled with the new shape of things, though most think compliance is their only realistic option at this point. And, given the current cond stanley kaufen itions in t
Foot Locker Inc., the New York-based athletic retailer, reported comparable store sales increased by 18 percent in the second-quarter ended Aug. 1 as the chain reopened and sales unexpectedly increased likely due in part to government stimulus checks.As we continued to reopen stores throughout the quarter, we saw a strong customer response to our assortments, which we believe was aided by pent-up demand and the effect of fiscal stimulus, Chairman and CEO Richard Johnson said in a statement. This fuele stanley quencher d our in-store sales and also drove continued momentum across our digital channels. While these undoubtedly remain challenging times, we are nonetheless pleased by the health of our category, our deep connections with our customers, and the strength of our vendor relationships.The company, which plans to release full earnings on Aug. 21, said it expects diluted earnings per share to be 38 cents to 42 cents per share, down from 55 cents last year. However, those results will include $37聽 million in pre-t stanley de ax charges. Those relate to the purchase of German specialty retailer Runners Point Group, the restructuring of Foot Locker Eastbay division and costs incurred in connection with the recent U.S. social unrest.Excluding non-recurring items, the company expects to report adjusted earnings per s stanley cup nz hare of 66 cents to 70 cents. Analysts had expected a 60 cents per share loss.Lauren Peters, executive vice president and chief financial officer, sa Lrdw Billtrust s Big Fundraising Payday
Too much inventory, not enough buyers.If one were forced to sum up the issue that is hitting physical retailer after physical retailer in 2016, that would probably be i stanley quencher t. The reasons are complex: new players, new shopping habits, winter weather that was just weird, supply chain problems, a quiet consumer recession emerging more on that in a minute 鈥?but the upshot is the same. Too much inventory unsold and showing no signs of moving, and an increasing host of sellers trying to unload the unwanted old and get on with the new and exciting.Getting out of the inventory trap is, of course, much harder than falling into it, and if the quarterly earnings and string of bankruptcies we ;ve been tracking of late are any indication, in some cases approac stanley kubek hes near impossibility.Sales, discounts and other such cost-reducing promotions are a time-honored tradition for clearing out inventory that didn ;t quite make it, but when there is this much unsold stuff on hand, that is quite a bitter loss pill for a merchant to take.And in at least one case, too big and too bitter a pill to take along 鈥?hence Target decision to pass some of those costs pack to their suppliers in the form of an聽an extra 3-5 percent of the cost of promotions and price cuts after slow sales so far this year.Suppliers, reports indicate, are less than thrilled with the new shape of things, though most think compliance is their only realistic option at this point. And, given the current cond stanley kaufen itions in t