Nations Retailers Have Glum Weekend

[CMT]

The critical last weekend before Christmas didn't deliver the sale bonanza merchants were hoping for, with Wal-Mart Stores, inc. announcing Monday that last-minute buying showed "some improvement," but was not enough to offset weak business in the early part of the month...

Target Corp. is expected to report same-store sales-sales at stores opened at least a year--later in day...

Discounters and luxury stores fared the best this past weekend...but at mid-priced department stores and mall-based apparel chains, which deepened price cuts on sweaters, jewelry, and other items, sales were uneven, continuing a trend seen throughout the season...

http://www.chicagotribune.com/business/sns-ap-holiday-shopping,1,1473188.story?coll=chi-busniness-hed

From a personal point of view, I work as seasonal help at a dept. store and our sales this season since Thanksgiving have been below last year.

[Davis_X_Machina]

1. The orange alert...

...was designed to drive this news off the front pages.

[GreenPartyVoter]

4. The Orange alert will only make it worse, too

Though to be honest, I was bumping into folks left and right in Ellsworth and Bangor stores over the weekend.

[Heddi]

2. I went shopping both Sat & sunday

In the major shopping district of Downtown Seattle.

No problems parking (clue #1)

No throngs of people in the stores (Clue #2)

Didn't have to wait in line for 45 minutes (Clue #3)

Didn't have to squeeze by people to see items on the racks (Clue #4)

The biggest line I saw was parents waiting outside Nordstrom's to take their kids to see Santa.

Last year, and the year before, you couldn't get a parking space within 10 blocks of the stores. We practically got one right on the street.

There were alot of people walking around, but not alot of people in the stores themselves. Not alot of people weighed down with bags and boxes and gifts galore.

I was actually amazed that we were able to go downtown, the weekend before Christmas, TWICE, and not be urged to kill someone b/c of the crowds.

[tridim]

3. I was in Target twice this weekend

and it was emptier than a normal shopping day. No line at all at the checkout. I think Bush* and his followers are going to be in for a huge shock when the final numbers come out. They'll try to spin it, but it won't work.

[Catshrink]

7. Me too... same thing here in AZ

However, I just ran an errand for my dad that took me near a big mall. Traffic was very heavy, as it was at Target. I would have expected this yesterday.

[LuminousX]

5. Economy in recovery? Only for the wealthy

[libview]

6. This is great news!

Bye Bye Bush

[tridim]

9. This is horrible news

Although I think I know what you meant. Keep in mind, we (all consumers) are going to pay for this crappy economy for many years to come. If it helps to get rid of Bush, great, but this is far from great news.

[Loonman]

10. Yeah, let's put more people out of work

:eyes:

[SammyWinstonJack]

14. Bush* isn't going anywhere

Whatever it takes to make sure he is re-sElected will be done. I wish I really didn't believe that, but I do. :cry:

[wanderingbear]

8. I predict that the christmas Shopping season

will not produce the usual upswing in the market and that sales will be much lower than expected..

[maxsolomon]

11. there's nothing left to buy

the american consumer is exhausted, and beginning to realize the pointlessness of frenzied consumption.

every year that holiday retail sales sucks i see a glimmer of hope for this country.

[Heddi]

12. who has any money to buy things with?

Several people I know have either majorly scaled down Xmas, or have done away with the gift-buying/giving completely this year.

When your mortgage is about to be a month late, you can't afford to buy Jr. $400 worth of crap that will be broken by Jan 3rd. When you're working 2 FT jobs to only make 1/4 fo what you made at the one FT job you lost last year, you can't afford to buy a $1500 diamond tennis bracelet for your honey. When you have to choose between paying the light bill, and buying Christmas Presents, generally the light bill always wins.

People have no $$.

Bush was hoping that the Tax REbate (??) for families with Children would help boost this Xmas season. It didn't. They also wanted it to boost the School Supply Shopping Season earlier. It didn't.

People can only stretch $300 so far. You can't squeeze blood from a Turnip, and that's what people are being forced to do now that jobs are down, salaires are down, bankrupcy is up, and home foreclosures are increasing.

I also know alot of people who have quit their jobs to go back to school and become more marketable in new positions (mainly health care related--nursing, ultrasonography, radiology--things you can get in 2 or 3 years at a community college). They figure it's worth the risk to quit their jobs (or go to PT) and spend money on SChool b/c they know in 2-3 years, they'll be MORE marketable and be in a position where they don't have to compete with 10,000 other people for McDonalds jobs, they can get good paying, good benefit jobs....they're making sacrifices for the future...everyone is sacrificing.

Another thing to consider---this Shopping Season didn't produce the $5 DVD PLAYER ONE DAY ONLY specials that we've seen in the past. I briefly thought about shopping the day after Thanxgiving, but didn't because there weren't any huge specials that I would have killed myself for missing out on. Nothing was priced THAT LOW, and if anything, the prices advertised as GREAT CHRISTMAS GIFT SAVINGS were maybe 10% lower than daily prices---not enough of a bargain for me to stand outside Target for 2 hours just to get inside and get the good deals....

[readmylips]

13. People I know are spending Holidays home alone...

Last year we had several parties among friends and neighbors. This year no one is having a party or even a small get-together. I cancelled New Years party because, people we know don't have jobs and don't want to celebrate. We're retired and don't have huge amounts of money but we are not financially hurting.

This year, we did not purchase any toys for grandkids. We opened a bank account for them instead. Purchasing toys is the biggest waste of money ever. Kids of today have way too much and they don't appreciate it.

[name not needed]

15. Everyplace was packed

Where I am. But it is a very affluent area. The mall had no spaces, as did Best Buy and Borders across the street. Everywhere I went the lines were too damn long.