At least this headline tells the truth somewhat--any increase in sales is more due to panicked retailers undercutting their own profit goals in an effort to shrink inventory.
Retail sales were disastrous. Stores are dumping inventory before people start getting those unaffordable obamacare bills and others go bankrupt because they registered and paid, but were never actually covered because the government website doesn’t work.
Exactly, Let’s find some segment where the sales are up, but is that in merchandise count or in dollar value? I would wager they had to keep running the numbers to find that Jewelry and kids clothing, bought at rock bottom profit in dollars and not in margin is supposed to save the day?
The media will never report the real numbers that are going to be that this season was a profit margin loser. I drive by several “Big Box” stores daily and the parking lots have been no better than a regular days capacity which is very low.
My wife went to Wal-Mart on Christmas Eve and no problem parking where she normally would, and that was the same for the entire season. She went to a mall yesterday and again, the same thing. I told her that nobody got any crap they had to take back.
I do remember when one had to play musical parking spaces and even getting close to a mall was an achievement.
With these discounts, one can only guess at how low the margins have been. I doubt the retailers are even covering their direct cost of most discounted items. Net margins are probably approaching negative double digits.
Ofcourse, what would the MSM know about how a business is run, they support Obamacare.
Local jewelry stores are having sales of, “up to 70% off”, of course they do that every year.
They must have a huge profit margin to begin with, to discount items that much. I can assure you they aren’t operating at a loss, even with 70% discounts.
i wonder what %% of Xmas decorations sold in Wally World/Target/etc. what a waste of time stocking all of those shelves in Sept./Oct. It probably just sat there for three months collecting dust. Most consumers can’t afford to waste money on it anymore(just reuse the decorations from the last 10 years) and this weekend, thousands of wally world employees have to put it all back!
So what is the definition of "retail sales." Gross dollars? If so, then if the above is true, profits are down by a significant amount.
My gloom-and-doom coworker has long been predicting that the media is just going to declare the recession over and that happy days are here again. And that the sheeple will stupidly nod in agreement and give Obama the credit.
Seems like they are gonna make an attempt at that anyhow.