close video US economy is in a very complex environment: Bob Nardelli
Former Home Depot CEO Bob Nardelli joined Cavuto: Coast to Coast to weigh in on France raising the retirement age to 64 and retail sales falling more than expected in March.
Former Home Depot CEO Bob Nardelli issued a grim warning over the U.S.'s "very complex" economy, cautioning consumers that middle market companies are under "tremendous pressure."
"I think we're going to see a lot of bankruptcies. Like Bed, Bath and Beyond. We got Walmart not only laying people off, but closing stores. We got Accenture laying people off. We got Amazon closing distribution centers. So I think there's a tremendous-mixed message," Nardelli said during an appearance on "Cavuto: Coast to Coast."
WALMART CLOSING THREE TECH HUBS, ASKING EMPLOYEES TO RELOCATE
The former CEO continued, saying that the "complexity" of the U.S. economy is "different than anything I have seen in my 52 years." Image 1 of 2
According to the U.S. Commerce Department, retail sales in March are up 2.9% year-over-year. | Fox News
According to UBS analysts, more than 50,000 retail locations could permanently shut their doors over the next five years. Those closures would cut the current U.S. store count of about 940,000 by around 5% by the end of 2027.
50K STORES COULD CLOSE IN FIVE YEARS DUE TO A SLOWDOWN IN CONSUMER SPENDING, ECOMMERCE DEMAND
The number of shuttered stores is "already up significantly" in 2023 compared to last year, due to heavy hitters like Bed Bath & Beyond, Foot Locker and bankrupt Tuesday Morning trimming their footprints.
“We’re in a very complex environment. And, of course, this debt issue only adds to that,” – Bob Nardelli, former Home Depot CEO
Over the past year, Bed Bath & Beyond has initiated a turnaround plan that involved shuttering hundreds of stores. Last month, Foot Locker announced it plans to shutter more than 400 low-performing stores in shopping malls by 2026 as it shifts its focus to new concept stores. close video Retail sales expected to get worse in 2023: Stacey Widlitz
Stacey Widlitz, the founder of SW Retail Advisors, reacts to Novembers retail sales coming in worse than expected at a 0.6% decline on Mornings with Maria.
According to Nardelli, Congress' inability to come together and raise the debt ceiling limit has placed an unprecedented burden on businesses, sharing with host Neil Cavuto that he is "definitely worried."
"I'm seeing inventory builds in a lot of the businesses, both public and private. Neil, you remember when we spoke in ‘07, ’08 and '09, there was a singular focus on the banks, right? Their meltdown took everything down," Nardelli continued, Friday.
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"Today, the banks are doing great. But now we have this mixed messaging. Retail is not doing so well. Banks are doing well. Transportation is up 13.9% over the last 12 months. I think we're in a very complex environment. And, of course, this debt issue only adds to that. It adds to the certainty of uncertainty, what's going to happen," he concluded.
FOX Business' Daniella Genovese contributed to this report.
Another Cadillac EV has earned the iconic “V” badge. The 2026 Cadillac Optiq-V is a new entry-level sports electric vehicle (EV) with over 500 horsepower, sporty styling both inside and out, and additional upgrades. It’s also GM’s first vehicle with a built-in NACS port, unlocking access to Tesla Superchargers.
Cadillac unveils 2026 Optiq-V EV prices and specs
Cadillac is back! The luxury brand is coming off its best quarter since 2008, but with a full lineup of electric vehicles rolling out, Cadillac expects to gain even more traction later this year.
After introducing the Lyriq-V earlier this year, we are now getting a look at Cadillac’s second EV to earn the brand’s performance trademark.
Cadillac revealed the 2026 Optiq-V on Monday, an upgraded, sportier version of the new entry-level electric SUV. The new V model boasts 519 hp and 650 lb-ft of torque in Velocity Max mode, good for a 0 to 60 mph sprint time of 3.5 seconds.
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GM confirmed Cadillac’s new Optiq-V will be its first vehicle with a built-in NACS charging port, enabling access to Tesla’s Supercharger network.
The Optiq-V features a dual-motor AWD powertrain and 85 kWh battery pack, which Cadillac estimates will provide 275 miles range.
2026 Cadillac Optiq-V (Source: GM)
Like Cadillac’s other performance vehicles, the new EV includes added features and tech, including V-Mode, which GM promises “takes performance customization further” with variant modes and settings.
When using V-Mode, a Launch Control feature is available, designed for straight-line takeoffs. You can also take advantage of GM’s Super Cruise hands-free ADAS system as standard.
The exterior is upgraded with a new front-end design, featuring a V-pattern mesh on the lower grille, a high-gloss black front splitter, and colored trim.
2026 Cadillac Optiq-V interior (Source: GM)
For the carbon fiber fans out there, GM offers a package that adds a carbon fiber front splitter, rear diffuser, and rear mid-spoiler. Other V-Series badges are added on the rear doors, liftgate, and driver’s side grillette.
The V model will be offered in two new limited-edition colors: Magnus Metal Frost, a matte metallic grey with warm highlights, and Deep Ocean Tintcoat.
A 33″ LED infotainment system sits at the center of the interior with Google built-in. You can choose from two palette options: Noir with Santorini Blue accents, and Noir and Sky Cool Gray with Santorini Blue accents.
2026 Cadillac Optiq-V interior (Source: GM)
If you really want to get fancy, there’s an optional palette featuring a Santorini Blue seatback panel and Santorini Blue seatbelt.
The Optiq-V features a darker colored pattern with Santorini Blue accent stitching, while V-Series badging is added on the steering wheel, sill plate, and floor mats.
2025 Cadillac Optiq trim
Starting Price (including destination)
Driving Range (EPA-estimated)
Luxury 1
$54,390
302 miles
Luxury 2
$56,590
302 miles
Sport 1
$54,990
302 miles
Sport 2
$57,090
302 miles
2025 Cadillac Optiq price and range by trim
Following the 2026 Lyriq-V, the Optiq is the second Cadillac EV to earn the V-series treatment. The Optiq is Cadillac’s new entry-level electric SUV, starting at $54,390 with 302 miles range.
The new 2026 Cadillac Optiq-V model starts at $68,795, including destination. It will be sold in the US, Canada, Mexico, the Middle East, and Israel, with production set to begin in Fall 2025.
Measuring 190″ long, 75″ wide, and 65″ tall, the standard Cadillac Optiq is about the same size as the Tesla Model Y (187″ long x 76″ wide x 64″ tall).
If you can’t wait for the V-Series model, Cadillac is offering some sweet deals on the entry-level Optiq right now with leases starting at just $409 per month. Ready to check it out for yourself? We can help you get started. You can use our link to find 2025 Cadillac Optiq models at the best price at a dealer near you.
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Forsyth, a former RAF pilot and investigative journalist turned novelist, was also known for his thrilling crime books The Fox, The Kill List and The Afghan.
He was born in Ashford, Kent, in 1938 and joined the Royal Air Force in 1956 before leaving after two years to pursue a career in journalism.
He covered international stories and the attempted assassination of French general Charles de Gaulle, which provided the inspiration for The Day Of The Jackal, which was published in 1971.
In 2000 he became the first high-profile British writer to agree to publish a book exclusively on the internet.
He revealed he had extensive involvement with MI6 in his 2015 memoir The Outsider: My Life In Intrigue.
His agent Jonathan Lloyd said: “We mourn the passing of one of the world’s greatest thriller writers.
“Only a few weeks ago I sat with him as we watched a new and moving documentary of his life – In My Own Words, to be released later this year on BBC1 – and was reminded of an extraordinary life, well lived.
“After serving as one of the youngest ever RAF pilots, he turned to journalism, using his gift for languages in German, French and Russian to become a foreign correspondent in Biafra.
“Appalled at what he saw and using his experience during a stint as a secret service agent, he wrote his first and perhaps most famous novel, The Day Of The Jackal, and instantly became a global best-selling author.
“He went on to write more than 25 books (many of which were made into films) that have sold over 75 million copies.
“He will be greatly missed by his family, his friends, all of us at Curtis Brown and of course his millions of fans around the world – though his books will of course live on forever.”