Posted on 11/11/2013 7:57:32 PM PST by SunkenCiv
Sales growth during the fourth quarter is shaping up to be the weakest since 2008, according to predictions from Morgan Stanley.
Same-store sales, a key metric that measures sales at store locations open at least a year, are expected to grow a mere 1.6% from a year ago during the fourth quarter, Morgan Stanley estimates. Last year's holiday sales were up 3.5% from the fourth quarter of 2011.
The 1.6% figure excludes sales at troubled J.C. Penney (JCP, Fortune 500). That's because J.C. Penney is expected to offer deep discounts to try and get back on track after a disastrous drop in sales last year. As a result, J.C. Penney may not have that tough a time beating last year's low bar. And its results could skew the overall sales figures for the industry.
Why will sales be sluggish this year? The culprit appears to be weak consumer confidence. While Americans have more to spend thanks to a rising stock market, higher home values and low gas prices, they're not so willing to part with their cash.
"Concerns over future income linger and the government shenanigans have dampened confidence on the cusp of holiday shopping," Morgan Stanley analysts said.
(Excerpt) Read more at money.cnn.com ...
"Concerns over future income linger and the government shenanigans have dampened confidence on the cusp of holiday shopping," Morgan Stanley analysts said.
https://twitter.com/intent/user?screen_name=HibahYousuf
https://twitter.com/intent/user?screen_name=CNNMoney
Outrage over Kmart’s Thanksgiving decision
[plans to stay open 41 hours straight — Kmart used to be 24 hr]
By Emily Jane Fox @emilyjanefox November 5, 2013: 2:58 PM ET
http://money.cnn.com/2013/11/05/pf/kmart-black-friday-customer-outrage/index.html
Gas under $3 - coming to a station near you
By Chris Isidore @CNNMoney November 11, 2013: 10:15 AM ET
http://money.cnn.com/2013/11/11/news/economy/3-dollar-gas/index.html
Harvard’s deficit skyrockets to $34 million
By Emily Jane Fox @emilyjanefox November 11, 2013: 2:08 PM ET
http://money.cnn.com/2013/11/11/pf/college/harvard-deficit/index.html
I don’t care if the economy was doing good....the Homo-enablers at JCP won’t get a dime from me.
This is all the purist nonsense.
The MSM has been telling me for months that the Obama recovery - that started back in the summer of 2009 - is really starting to accelerate, and the economy is about to come roaring back.
Great!
Now if only we could get some gas in our "gas".
I’m done with my shopping. Bought boxed candy at the first store that offered two for the price of one. The kids like a box of candy with their check. All’s done but the wrapping. Older folks get those Sherpa throw and pillow sets. My clan gives gifts in a reasonable price range.
It sure doesn’t help not knowing how much medical insurance is going to skyrocket so that some people can get it free.
I’m buying everyone I love a gas card for Christmas while the gettin’ is good!
Hopefully, they’ve learned a thing or two from me and will hoard it for a rainy day...which will be a week later come January 1, 2014!
I’m going to shop on Thanksgiving!
Gas just hit $2.83 here today.
And we just had another $1000 chainsaw go down because of the alcohol in the gas
I think for Christmas everyone gets a digital copy of my new story.
lol
Not gonna shop at Gaycee Penneys again.
I shop on craigslist now.
“I’m done with my shopping”
Me too. All I will give are wine from the 99 Cents Store.
The great part about being in Silicon Valley (California) is that there is no point donating money to the local or state GOP.
I think Obamacare is going to have a *hugh* effect on spending.
This past week a number of people I know in the restaurant business have had very bad nights. They haven’t seen business this bad in years. I’m wondering if it is because of the cancellations and Obamacare.
We’ll see. They reported last month that consumer debt was at its highest in quite some time (2009?). People, particularly those without the means to pay off their credit cards and car loans, will continue to add to their debt until someone bails them out.
I’m giving out #2 pencils. And they’re brand new.
My confidence has been dampened for 5 years.
I sell vintage clothes online. I can second this trend you are seeing. The past couple of weeks have been insanely slow for me.
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