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Retail Sales Worst Since 2009 For This Time Of Year
The last time September Retail Sales growth was this weak was 2009, limping aimlessly out of the 'Great Recession'. With a mere 0.9% year-over-year growth, Johnson-Redbook data seems to confirm what Reuters reports is looming - the weakest U.S. holiday sales season for retailers since the recession. Consultancy firm AlixPartners expects sales to grow 2.8-3.4% during the November-December shopping period compared with 4.4% in 2014, based on analyzing consumer spending trends so far this year, noting (myth-busting for permabulls) dollars saved at the pump are being directed to personal savings or on non-retail activities.
This year is already seeing the worst retail sales growth since the great recession...
And now, as Reuters reports, the holiday season is setting up to be a major disappointment...
Upper middle-class shoppers spooked by a whipsawing stock market and shoppers waiting till the last minute for the best deals could result in the weakest U.S. holiday sales season for retailers since the recession, AlixPartners said.
The consultancy firm said it expects sales to grow 2.8 percent to 3.4 percent during the November-December shopping period compared with 4.4 percent in 2014, based on analyzing consumer spending trends so far this year.
This forecasted increase is on the low end of holiday sales performance since 2010, AlixPartners said in an advanced copy of a report given to Reuters. Holiday sales have averaged 3.9 percent in the last five years, the firm said.
...
"What we are seeing is that consumers' behavior this year in terms of increased retail sales is fairly muted," said Noam Paransky, director of AlixPartners' retail practice and one of the authors of the report.
"A lot of the ingredients that drive retail revenue...aren’t there," he said pointing to slow U.S. economic growth, low inflation and population growth.
U.S. consumer sentiment hit its lowest in a year in early September as households expected slower growth abroad to hit the U.S. economy, a survey released by the University of Michigan showed. Consumers' expectations for current and future personal finances also took a knock.
Even though unemployment levels are decreasing and gas prices are falling, stagnant wage growth is forcing middle- and low-income consumers to spend prudently, Paransky said.
Dollars saved at the pump are being directed to personal savings or on non-retail activities, such as holidays, instead of discretionary items.
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But lower gas prices were unequivocally good!!???
Charts: Bloomberg
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Never pay retail.
elect ME and retail sales will be yoooooooooooooooooj
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With the current economy, this shouldn't be a shocker Retail sales are down
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"Dollars saved at the pump are being directed to personal savings or on non-retail activities, such as holidays, instead of discretionary items."
OR spent on healthcare. Why are the huge increases in healthcare ignored by so many people??? I refinanced my mortgage and it was immediately offset by premium increases. You can't realistically refi every year, so the next year when healthcare increased I had to raise the deductible. What's next year going to bring?
The media arm of the government doesn't want to report negatively on the trainwreck obunglercare. That's why.
HH, who doesn't want a nice set of rims?
Even the Dolla Store manager was complaing to me this weekend. She said, "People just ain't got the money."
That's the Dolla Store for goodness sake! Macy's, Bloomingdales and all those small Bored Housewife-owned retail shops may take a bloodbath.
Health care costs are sucking the life out of every other sector. Laws allowing monopoly pricing and price fixing, exemptions from anti trust.
You try to jack up the price of bottled water in an emergency, you go to jail. But drug companies can charge 100k or more for a cancer treatment, that probably costs them a few bucks to make. These are the guys that need hanging along with the bankers and politicians.
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Worst for this time of year...
...since Lehman.
Suck it!!
Out here yonder CrazyTrain Land, the shopping centers are already stringing lights.
And shit's not selling. Go to the mall. Might be people out walking about but all they got in their paws is ice cream cones or coffees. No bags
knukles, Stores are desperate; they already put out their artcic vests and 40-below-tested puffer coats for that sub-zero weather in Florida and Texas tyring to get the jump on other stores for those few dollas out there.
Knuckles, cut the bullshit. Sales are still up, though only a little. There wouldn't be a mall standing if what you said was true. They'd be turned into condos.
HA HA HA AH AH AHH AH HA HA HA
Loogadthis!
The Holman Building in Pacific Grove CA, long a department store and then a massive antique mart, is converting to condos.
Nuff said!!!!!
I predict that word clouds reflecting MSM blather will increasingly feature the word "stabilize".
The other day some jerg-ov said "Now into the 7th year of recovery, we finally might be getting lift-off"
https://www.youtube.com/watch?v=j4JOjcDFtBE
Cheaper resources/materials, cheaper productivity, cheaper production, cheaper delivery, cheaper goods, cheaper consumer = reduction in spending, except in things that are needed.
Want to thrive on this planet? Assume that you are worthless just being you. Make judgements going forward.
time for some Jewish lightning?
http://www.boston.com/news/local/massachusetts/2015/09/23/wealthy-brookl...
2016 health care premium (increase) notices about to hit the mailbox
one other thing, the redbook +0.9% was for the week ending sept 19th ... and for same store sales ... not total sales.
Will I be getting my 2000 dollar savings on healthcare in the form of a check or tax credit?
Yes, that and O'Sama's $3,000 bonus for "thingamajigs."
You notice, no one mentions the negative impact high credit card interest rates have on the economy. Banks borrow money for near 0% interest rates and then charge credit card interest rates of from 11% to 29.9%. The Comptroller of the Currency blocks states from enforcing usury laws. Congress, filled with paid off political hacks, takes no action to retore the 12% maximum credit card rates that were in effect until about 1977. Meanwhile, Obama's accomplices order the FDIC to issue insurance to cover Bank of America's 21 trillion dollars of derivatives. These Bank of America derivatives are the equivalent of gold plated tungsten bars. These derivatives cannot be redeemed at face value, in some instances, or for anything, in most instances.
yeah but wait till the "Bezos drones" start flying in!
Retail shopping is for losers! I'd rather eat a bowl of glass shards than walk into a mall.
Socks and underwear...that's about ALL I buy from retail stores. And only on sale, heavily discounted, when needed.
Never again will I throw money away on new appliances, light fixtures, clothing, cars, etc. I just replaced my (brand new) kitchen light after the ballast went, almost exactly at the point their warranty expired. So I got one year out of it.
I chose to replace it, not with a NEW Hampton Bay fixture, but with a 40+ year old vintage fixture I picked up at a yard sale for 2 dollars.
Works like a charm, and will provide light for my grandchildren, if they choose to keep it.
That new computer desk? Sure, it looks sharp. But look again...it's made out of laminated particle board. For those of you who don't know, particle board is basically the Potato Buds of wood. It will DISSOLVE in water, turning into an oatmeal-type mush. Such a deal, at 299.00!
Go to an estate sale and buy someone's grandmothers old desk from the 40's...solid wood, dovetail joinings, numbered brass hardware, for 25 dollars. And in a flood, no 'oatmeal'...you can turn that fucker over and use it as a canoe till you get to dry ground. Then air it out, weight the top for warpage, and use it as a desk again!
Fuck retail.
Same here.
I buy clothing online, for the most part.
Actually had to darken the doors of a mall the other night, for new bedding/pillows/etc. Holy shit was the place dead. We walked around for a bit, just to soak in how bad the retail situation is at this particular mall.
Stands to reason why strip malls and stand alone stores got so popular in the last so many years, and even they suck and gobble up untold resources. Just wait 'til this baby blows, I bet a bunch of retailers will go under.
I went to a mall a couple of times recently to buy a nice outfit for an event. I was pretty much the only white, english speaking American there.
I have noticed that - that and some white trash tat types.
Haven't been to a 'mall mall' in ages. When I have to shop for events or whatever I head over the East Side (Belleuve WA) to shop with the 1% so I don't have to worry about being the next George Zimmerman or having my car jacked.
I wonder how long they can prop up these 2nd and 3rd tiers - there is no way in hell they are covering the full boat of expenses.
Infidels!
Blame the weather, no wait it must be that 5% of the workers are only umemployed and everyone else is too busy to buy because they are working. Oh and let's not forget the 46,000,000 people on food stamps, that should account for somehting.
hey there's always cash for the rillos, shots of bacardi or paul, and don't forget my pall mall 100s
This would all be fixed if the fed would just print more fiat. Fuck'n cheap ass fed is screwing everyone over.
Signed, Paul Krugman.
Cant spend what you don't have, fuck'en dopes.
kweddit kawd
Is kind of like a decapitated head that doesn't know it's decapitated yet. It's going: "Any minute now, things will go how I want them to go and that darned body will start cooperating again."
Dollars saved at the pump are being directed to personal savings
Bullshit, Any dollars saved are going to pay the grocery bill, credit card bill or Juniors band trip expense
More and more people are viewing their 401k not as retirement but as a emergency savings account
"Upper middle-class shoppers spooked by a whipsawing stock market and shoppers waiting till the last minute for the best deals..."
You mean...EXACTLY like last year? Yes, last year, Xmas sales were on par for what they were supposed to be, so therefore everything was "fine;" yet, the ONLY thing that saved the Xmas shopping season last year was the fact people waited out for those deep discounts the weekend before Dec 25. The previous three shopping weeks before the holiday, holiday sales were very, VERY lackluster.
I can't wait for this year when no one goes shopping. The proverbial shit will literally hit the fan WHEN that happens. The economy will tank 10% before the year finishes through.
When will sheeple quit being conned by xmas? Yeah, like I really need more crap to pile on top of all the other piles of crap.
If you have small kids, give them INEXPENSIVE toys or games you can play with them. They get bored pretty quickly, so it's insane to buy expensive toys. They really just want your participation/attention. Don't buy anything with electronics, and don't give kids cell phones - or god forbid iCrap.
Bigger kids should be given silver coins, or something else that will retain value and teach them healthy habits.
When will sheeple quit being conned by xmas?
Are you kidding? Americans love shopping more than anything else in the universe -- including taking care of their own children, or voting. People love shopping so much, there are actually THREE Christmasses a year: Actual Dec 25th Xmas, Halloween (Here is an interesting statistic: the past three years, Americans spent more during Halloween than Xmas!), and SuperBowl Sunday. Have you ever noticed the commercials that roll before "the big game" trying to convice people to buy new HDTVs...even though Xmas was literally six weeks before? "Buy a new living room!" .... "Buy a new entertainment center with 7.1 stereo surround sound!!"
We already have three Xmas holidays a year, yet that still is not enough to keep our economy afloat. I am glad people are utilizing their money for things they NEED, instead of things they WANT. Americans need to save more, and spend less on frivilous things. That is one good thing that has come from this depressio--erm... I mean """""""""""recesssion"""""""".