Considering we haven’t had a decrease in holiday spending in 50 years, a -8% (before factoring inflation of 4%) is depressionary? Especially when you consider that there are more locations open this year than last year (which means comps—which is what matters to a retailers bottom line) is probably down -12%. If you exclude Walmart remove another 3-5%.
That is a good point.
Many businesses have opened too many locations.
Best Buy, Future Shop, Linens and Things, Home Depot, etc.