Posted on 12/04/2009 7:49:58 AM PST by MaestroLC
The hordes of Black Friday shoppers weren't enough to save retailers from dispiriting November sales, according to company data released Thursday.
About 30 national chains reported monthly sales at established stores on Thursday, a key measure of the industry's health. Several chains, including Costco and J.C. Penney, performed worse than analysts expected. Retailers said that unseasonably warm weather dampened sales at the beginning of the month. In addition, shoppers saved their cash for post-Thanksgiving deals.
"It was a month that disappointed us and, I think, the industry," said Michael Niemira, chief economist for the International Council of Shopping Centers, a trade group.
(Excerpt) Read more at washingtonpost.com ...
Also a factor: Our government is promising to raise massive taxes during a deep recession.
Let’s watch how Obama “cooks the books” on retail sales
I was in Wal-Mart around noon on black friday, and it was nearly empty ;-)
That is because wallyworld rarely offers up black friday specials. They just stay where they always are.
I’m AMAZED it was as good as it was. Considering that we have 10%-17% unemployment (dending upon who you listen to), we are in a Recession that is the worst in the past 26 yrs, and the future is uncertain at best ... I expected Christmas sales to be down at least 25-50%.
They money we are spending this year at Christmas time is the least we have ever spent. Most people are feeling the crunch this year.
Maybe Bammy should hold a “summit”?
With beer?
Um, no.
November sales items and sale prices disappoint IYAS9YAS. Nothing really to go for. What I wanted to buy wasn’t on sale (bang sticks and the little thingies you put in them that make the noise).
I went to Costco, Target, and several other stores on Black friday, saturday and sunday just to see what was going on. It was truly dead after the initial rush. And my wife and I talked to clerks at each location. Those that have been in retail long enough to have at least a full year under their belt ALL said it was dead. All three days.
We saw surprising numbers of people on saturday and sunday returning stuff, and we saw clerks at their registers waiting for customers. At best buy there was a five minute wait to be checked out, but they had five of 11 registers open.
And here is the clincher. Normally I am not “allowed” in Southcenter mall traffic during christmas shopping season because my wife is afraid I’ll ram someone’s car. ;) This year the traffic was no problem, even on Black friday weekend. Neither was parking. :)
November sales disappoint retailers:
Not if you are a gun and ammo retailer.
By noon, they are empty. You’ve got to get there at 5 am to see the crowds.
I drove by one of the local malls last night and no lie counted a total of 15 cars parked outside JC Pennys and the food court. I am assuming those cars had to at least belong to employees.
Is “disappointed” going to replace “unexpected”.
Wally's has sales continuously, online and in the stores. They want to attract the maximum traffic, as the overall stores sales will gain. They always have Black Friday sales with hordes waiting for the doors to open.
But, there is more to their story...
DEPRESSION.
LLS
They have to convince us the recession is over so they can massively jack the taxes.
“Retailers said that unseasonably warm weather dampened sales at the beginning of the month.”
Is it just me or does this sentence not make any sense at all? Warm weather dampens sales? So if it were cold and snowy more people would have shopped?
I watched a parade of LARGE FLAT SCREEN TV sets walking out of a few stores. Thinking that most TV is rotten, why the large expenditures on this terrific TV SETS?
I am afraid that this means that discretionary spending is going toward STAYING AT HOME. There is going to be a drop in restaraunt and hotel business as people hunker down in front of the new TV. A mere half dozen nice evenings “OUT” will pay for multi year enjoyment of that new TV.
I have overheard people looking over these sets, discuss with other people that this year, ALL the gift money is going to this for the entire family to enjoy..AT HOME.
Oh Oh
No one has any money. I know people who are unemployed and they have never been in their life.
Atlas is shrugging. People on the “rich” side of my street used to have trucks lined up every morning at their homes that average about 5,000 sq feet when Bush was President. Lawn people, painters, decorators, yacht mechanics, ac guys, plumbers, mega aquarium people, and on and on.
Some of these people would spend $50,000 + just to maintain their homes. Well Atlas shrugged and they stopped spending. Every morning you can drive down the street now. In the past it was hard.
Everybody went water-skiing on Black Friday. Boat rentals surged.
That must be where today’s happy jobs numbers came from.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.