Investor details how Amazon is killing retail chains

Damn that Jeff Bezos!

Investor Stanley Druckenmiller, who managed George Soros’ money for 12 years, told attendees of a morning session that Amazon’s superefficiency has so disrupted the retail industry that chains in the US today are lucky to get $1 back in sales for every $1 they spend.

Yet the Amazon retail juggernaut, he said, receives nearly $4 dollars in return for every $1 it spends.

US retail also needs to step up its efficiency in real estate management.

Despite all the mall closings and empty storefronts, US retailers still have four times the square footage per capita as their counterparts in the UK — and six times those in Germany, Druckenmiller told his fellow moguls, news that was as chilling as the weather here in this resort city.