Holiday shopping hits the skids

CNN ^ | 12/11/07 | Parija B. Kavilanz

[Santa Fe_Conservative]

NEW YORK (CNNMoney.com) -- After getting off to a fast start last month, holiday sales at some of the nation's largest retailers have slowed to an excruciatingly slow pace and mall traffic has dropped dramatically.

The results, coming two weeks before Christmas, jeopardize an already weak holiday sales period.

Chain-store sales rose a mere 0.2 percent for the week ended Dec. 8, following a disappointing 2 percent sales decline in the prior week, according to a report released Tuesday by the International Council of Shopping Centers.

"Consumers continue to be slow in finishing their holiday shopping," said Michael Niemira, the council's chief economist. "As such, we will be watching the next few weeks to determine how successful this holiday shopping season will be for retailers."

Niemira said he expects total December sales to increase a modest 1.5 percent unless retailers get a much-needed "surge in demand" over the next few days.

Meanwhile, mall traffic has also hit the skids.

[ConorMacNessa]

I did most of my shopping online this year - I wonder if they’re including that in their figures.

[Doogle]

..clinton news network

[Badeye]

Gee, I wonder if ice covering the entire midwest has anything to do with this, eh Wolfie?

(eyes rolling)

[kingu]

Wish I could say we’re not having our worst Christmas ever, but alas, we are, after a soft summer. Our customers aren’t making anywhere near as many trips anymore with higher gas prices.

[E. Pluribus Unum]

Every year before Christmas the MSM tells us that retailers are going to be hurting, and every year after Christmas we learn it was another record year.

So predictable.

[Hoodlum91]

We did all our this past weekend. Saturday was a mess, Sunday was pleasant. No lines, plenty of parking.

And we’re done. No more $$ this year!

[fireforeffect]

Probably not.

No one has ever been shot by a stranger while shopping on line.

[johnandrhonda]

We hear this same BS every damn year...

[-=SoylentSquirrel=-]

Those consumers better get busy, the Chinese economy isn’t going to grow itself!

[Zakeet]

Do you think an inch of ice covering half of the U.S. has had anything to do with
this trend? If so, do you think things will pick up for retailers when people can get
to their stores again? Or do you think this is some more MSM alarmist garbage
written by a news weenie with no more common sense than a goat?

[Larry Lucido]

How will this affect the long-predicted spring “credit crunch”?

[xtinct]

Done shopping... sent out the last of the Christmas presents on Saturday.

But it certainly doesn't put people who frequent malls in the mood to shop when a psycho shoots up a shopping center no matter where that shopping center is located.

[AngelesCrestHighway]

Mall shopping sucks!

[UCFRoadWarrior]

In the Orlando area, places I usually go...they have been much slower this year. Could be there may be some late shoppers, but, I havent seen this slow so early

Note that Orlando is one of the hardest hit in the mortgage/foreclosure mess, so this may have something to do w it. On a quiet night you can hear property values plummet

[Old Professer]

This has become an annual ritual; downplay the shopping in the hopes that they can influence the market.

[meandog]

I wonder why?

[angcat]

They do not include the gift cards until they are used.

[Phantom Lord]

Don’t worry, I an 97% of other Husbands are waiting for Dec. 24 to start our Christmas shopping, putting the sales for the month over the top.

[dragnet2]

Wish I could say we’re not having our worst Christmas ever, but alas, we are, after a soft summer. Our customers aren’t making anywhere near as many trips anymore with higher gas prices.

We've slashed back on everything we consume, or purchase, not making needless trips in our vehicles...We're not even going to put up Christmas lights until the week before Christmas.

We're hunkering down financially in a big way. No choice.