Grinchmas – Retail Sales Suffer

Lemme see if I can predict the prog logic.   It’s all George Bush’s fault, guns are to blame and people who are not shopping are…

…..RACIST  !

Let’s hope the economic turn away from “stuff” is met with a purposeful turn toward “fellowship and faith”.    Alas, the most likely outcome is for Progs to demand that Obama fill the void and put government subsidized presents under their trees…. it’s only fair.

OBAMANOMICS WORLD  - Nowhere was the traffic void this weekend more evident than the Saks flagship store in New York City, with sales down 20 percent.

Just Wednesday I warned on CNBC’s “Street Signs,” business at Saks seemed particularly slow going into holiday. The level of markdown inventory the week before Super Saturday told the story, as did the ability to hear a pin drop during a 60 percent off sale. Sales associates are simply at a loss to explain why the customer has not shown up. Some are telling me this is the worst they have seen during their career with the company.

Everyone is looking for an explanation. First, it was super storm Sandy, then it was the “fiscal cliff,” and now the nation mourns for Newtown, Conn. Maybe it is all just too much.

By the way, I am not picking on Saks — the luxury retailer has plenty of company.

Shoppers seem to be: a) procrastinating more this year; or b) are just not in the mood. I am going with “b.” We Might try to convince ourselves that more consumers are doing all of their shopping online? Sure, free shipping and the much-improved mobile shopping experience is driving more business out of brick-and-mortar stores, but lets be realistic here. So far, the statistics point to a mid-teen increase in online shopping and the cut-off date for most orders was Dec. 22. This is not going to make up the traffic declines we are observing in stores.

There is a lot riding on the final weekend before Christmas and maybe more than usual this year. Saturday was supposed to be the biggest shopping day ever. At least, that is what a lot of statistic trackers and retailers were hoping for, because the weeks leading up to the final stretch have been disappointing. Just last week, ShopperTrak announced the somewhat obvious observation that traffic and sales declined year-over-year for the week ended Dec 15. Traffic was down 4.4 percent and sales declined 4.3 percent, which led the company to cut its forecast for U.S. holiday sales to 2.5 percent from the previous 3.3 percent estimate.   (read more)

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19 Responses to Grinchmas – Retail Sales Suffer

  1. kinthenorthwest says:

    Was at the mall and Kohls on Friday..I was shocked…Old Navy had like 12 or so in the single line for 5 cashiers. Kohls have maybe 3 or 4 in line most ofthe time. Penneys was really easy…Macy I didnt buy anything but it would have been easy..
    Now Costco was another story, but Costco is always crowed with long lines on Fri, Sat and Sun.
    Still trying to figure out why all the cars in the Mall lot, Hey I got lucky and purposely gave my spot to a lady who dropped off what appeared to be her elderly mother..
    Still not going out today, even though I realized there are some grocery items I need…I will get them at the corner Mom and Pop.

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  2. czarowniczy says:

    Ah yes, the bellwether for the ‘success’ of Christmas: greed, avarice and conspicuous consumption (all right, over consumption). Of course the data showing that people are and have been paying off debt rather than diving more deeply into new debt is irrelevant unless you are trying to skew the answer. I must have missed the point where the daily news translators added a Greek chorus to their presentations. Anyway, I’m off to the mall (CCW with me), great grandson in tow, to help shine up this bleak picture.

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    • kinthenorthwest says:

      My big present to myself was extra money on my Credit card debt….
      Did get myself my yearly eggnog shake…Dang McDonalds doesnt have them anymore. Had to go to Jack in the Box..But McDonalds was nice enough to tell me where I could get one..

      Like

  3. Sharon says:

    Well, there ya go. Barack Hussein Obama is a major cause of depression. Of every possible kind.

    Like

  4. LouDaJew says:

    restaurants around Miami are packed. I don’t dare go to the mall. too ghetto IMO (loud, obnoxious, dressed in thugware). I think more people are shopping online until this ghetto culture ends (if it ends).

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  5. Nathan Bigelow says:

    Most of the shoppers were instead at the local gun store. Packed they are. Pattern ARs flying off the shelves. Media blackout on the hours-long delays on the instant background checks. Gunshows? just as crowded.

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  6. kathyca says:

    I noticed the traffic this a.m. was not nearly as crazy as I expected. Also, I had two very popular electronic items to attend to. An Iphone and a Nook. I walked into both the ATT store and Barnes and Noble and didn’t wait one second for service or on line to pay, and they were out of nothing except the cheapest model of last years version of the Nook. No shortage of colors or models of anything, including the Nook covers. There were TONS of them left. I also noticed that they were underselling instead of overselling. When I told the B&N guy that my daughter wanted the Nook only to read he immediately suggested the Simple Touch, which is significantly cheaper than all of the other models. Some by more than $100. Similarly, ATT didn’t even try to get me to buy the newest one or to convince me that my 10 yo needed a data plan lol That has never, ever, ever happened before. I live in a fairly affluent area full of people who are happy to throw their money away on the newest gadgets and, apparently, they too were not out in droves this year. Maybe they’re all at their slope-side condos for the holidays :)

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    • LouDaJew says:

      I’m a huge beiever in protectionism, but there are so many myths by both sides. if we want to live in an industialized society, we must return to protectionism. it will pretty much put China out of business. products will be made in America again. if you look at the 1950’s, 60’s, and 70’s, you’ll understand why we were doing so well.

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      • LouDaJew says:

        the problem is Alexander Hamilton has been demonized by the Milton Friedman’s of the world. Milton Friedman cared about the big guy and stocks, while Milton Friedman cared about American industrialization. Economically speaking, these were Republican ideas. Now, the Republicans think free trade is the answer. I disagree with the new form of Republican economics, because it doesn’t jive with the Constitution. I just agree with their beliefs on race realism/relations and the ability to exercise their Second Ammendment rights. these 2 issues must be in the forefront of any political debate, as well as what our first Secretary of the Treasury proposed.

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  7. Michelle Hart says:

    Just remember folk’s…. “The private sector is doing fine”….

    Like

  8. sherpa 1 says:

    My folks don’t need another present. Everything they want, they have. Making donations to Hefner International for live animals to the poor to inprove their lives and Rabbi Eckstein of the International Fellowhip of Christians and Jews to send $25 dollar food boxes to the poor in Israel and aged Holocaust Survivors.. Not spending a nickel with the Dems in power unless it is essentials. Faith, Hope and Charity but the greatest of these is Charity.

    Like

  9. cajunkelly says:

    DH decided he wanted seafood gumbo tomorrow, so I mozied off to WalMart this AM. Had to get the cajun holy trinity (onions, celery, bell pepper), garlic bread, etc. along with the makings for lemon icebox pies.
    I was shocked that there was only ONE person ahead of me at checkout….I usually go through the garden check out…that was my secret trick for a long time until others caught on and it became a traffic jam back there.
    Not today! I waited in line less that a minute.

    I was expecting a total nightmare but was pleasantly surprised.

    Like

    • czarowniczy says:

      Slidell (La) and Picayune(Ms) Walmarts were jammed – guess the blue collar folk decided to pass Neiman-Marcus, Saks and Cartier’s, afraid of that fiscal cliff and all. Malls were packed too, my favorite frozen yoghurt shop has its seasonal eggnog yoghurt – life is good. Would be mo’ betterer iffin I had the tax payers apayin’ for me, my wife and kids to fly to Hawaii on an empty private jet for a guest appearance with yet another dead body. Then agin’ I ain’t entitled.

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  10. sundance says:

    After a few stores today, and my annoying habit (according to those who ever go wif me) of asking every retail manager what their same year comps are, I believe things are far, far, worse than being afforded to the media.

    Same store sales are heavily down at all locations with comps. The belt tightening over the past 4+ years has offset some of the profit issues as stores have become exceptional at doing more with far less. Productivity is now met with new considerations for just-in-time inventory and new approaches to the law of diminishing returns.

    We will continue to see fewer ‘on-hand’ items as retail outlets use lateral movement from location to location to take care of customer needs. Standing inventories are a cost no longer able to be afforded. Supply chains are tight – very tight, not only are store inventories low, but the warehouse inventories have also been reduced. This means “exception events” can be exponentially more impactful now, especially in the supply chain for perishables and highly consumed items like grocery stores.

    Almost everyone I know agrees the talk of recession improvement is propaganda. And energy costs are nessessarily increasing.

    Like

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