Retail sales numbers have taken a MAJOR drop

[TwixVoy]

I know I haven't posted an update for a while, but I wanted to see where the numbers were going for a little while.

The past three weeks have seen a MASSIVE and consistent drop in sales company wide - nationally - at the retailer I work for. Some many know from my previous posts sales were not looking good a few months ago, however they have dropped off now FAR more than they were just a few months ago. I have never ever seen them this bad.... and they are not even hit and miss anymore. It has been a consistent drop.

The 4th quarter numbers are going to be shocking when they get reported. Many departments (electronics, toys, domestics, softlines, and seasonal merchandise in particular) are down over 50% for the same time last year - and this is company wide.

I was personally thinking numbers would keep being hit and miss the rest of this year, but this massive drop off all of a sudden is incredible. The numbers are so in the red it's hard to believe.

If you can save money DO SO. DO NOT GET IN DEBT THIS CHRISTMAS. These numbers are scary as hell, and I can only imagine how the corporations are going to react in January. We are probably going to be looking at lots of job cuts.

[ColbertWatcher]

1. Thank you for posting.

I'm sick of the GOP-controlled media's lies about how the economy is really going.

It seems they're waiting until January 20, 2009 to say how bad everything is.

[Chipper Chat]

3. Shame Han-nasty is already calling it the "Obama Recession"

He never quits does he?

[napi21]

2. Job cuts and bankruptcies. When I look around here and kept seeing

new strip Malls popping up everywhere, I kept asking who the hell is going to support these new srores? My guess is nobody! So there will not only be a lot of retailers going out of business but mall owners as well.

[earth mom]

4. Things aren't so bad here in the PNW. Yet.

I'm not in the stores all the time but went to Target, Walmart, Best Buy and the craft store this past weekend and there were lots of people in the stores when I went. Of course it was right after the 15th of the month too. Recently, our local t.v. news said that stores are reporting that this is when people shop these days-right after the 1st and the 15th. :yoiks:

[TwixVoy]

6. Regular employees I talk to

are always surprised the numbers are so bad because they "see lots of people shopping". "Lots of people" may be in the store, but they either aren't buying or aren't buying anything other than consumables. The numbers are horrible.

[4lbs]

5. This week Target and Lowes stores each reported a 24% drop in 3rd quarter earnings.

That's quite a lot.

Best Buy dropped about 7.6%.

Walmart though, INCREASED by about 10% in the 3rd quarter. I guess cash strapped consumers are shopping there now.