Posted on 01/10/2008 10:44:49 AM PST by Santa Fe_Conservative
NEW YORK - The economic outlook became more uncertain Thursday after many of the nation's big retailers reported weaker than expected holiday sales, the result of consumers cutting their spending due to higher energy prices and the ongoing housing slump.
Many merchants failed to meet their already lowered sales projections during December, and their performance during this critical sales period led some stores to reduce earnings outlooks for the fourth quarter.
The weak results crossed all retail categories. Particularly hard hit were apparel sellers including Limited Brands Inc. and AnnTaylor Stores Corp., as well as department stores including Macy's Inc. Among the few bright spots were low-price operators like Wal-Mart Stores Inc., which posted results that exceeded Wall Street expectations, as it benefited from shoppers trading down to cheaper stores amid higher gas prices and a slumping housing market.
(Excerpt) Read more at news.yahoo.com ...
I don’t believe that reflects the purchase of gift cards as retailers do not report those sales until they are actually used.
Nonsense.
Retail sales jump in December(Yes,We`re Still DOOMED!)
http://money.cnn.com ^ | January 13, 2005 | cnn/Dept.ofCom.
Posted on 01/10/2008 10:49:04 AM CST by Para-Ord.45
NEW YORK (CNN/Money) - Retail sales rose sharply in December, a government report showed Thursday, boosted by strong auto sales as car manufacturers courted consumers with deep incentives.
The Department of Commerce report showed overall sales up 1.2 percent in December compared to November, when sales rose 0.1 percent.
Economists surveyed by Briefing.com had forecast retail sales to rise 1.1 percent in December.
(Excerpt) Read more at money.cnn.com ...
Well, someone has to be wrong here.
“many of the nation’s big retailers reported weaker than expected holiday sales”
But there were some that EXCEEDED expectations.
And smaller businesses (and even some online retailers) weren’t noted.
But they know the DNC mantra. Bush economy “bad”.
Elect Shillary, she’ll have the troops home from Bosnia by Christmas. This time for sure.
I've never understood how the slow-down in new home sales is supposed to affect whether or not I buy my kid an XBOX 360 for Christmas.
‘I don’t believe that reflects the purchase of gift cards as retailers do not report those sales until they are actually used.’
Correct.
You mean the ones that Slick Willy said were only going over there for 6 months?
Housing slump ==> Less perceived wealth. Well documented in economic psychology. There is a multiplier so the effect is exaggerated. That is one of the things the Fed is so concerned about. Consumer behavior is very fragile.
Those would be the ones. Those who call for US troops to retreat from Iraq never mention the troops stuck in Bosnia.
The thread you copied is based on a news story from 2005:
Retail sales jump in December(Yes,We`re Still DOOMED!)
http://money.cnn.com ^ | January 13, 2005 | cnn/Dept.ofCom.
NEW housing slump.
It worked for Hillery.
In other words, over-priced uncompetitive mall stores like the Macy’s are losing business to Walmart.
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