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Big Miss In Retail Sales Paints Grim Picture For Holiday Shopping
zero hedge ^

Posted on 11/14/2012 6:24:34 AM PST by Perdogg

Here we go with the "but, but, Sandy" excuses. The just announced October retail sales tumbled, with their worst miss of expectations since May 2010, and the first sequential decline since June: printing at -0.3% for both the headline and the 'ex autos and gas', on expectations of a -0.2% and +0.4% rise. Ignoring for a second that the Commerce Department said that Hurricane Sandy had both positive (remember those massive lines in various stores ahead of Sandy) and negative impacts on retail sales, it would be truly inconceivable for the sellside Wall Street consensus of diploma'ed PhDs, which knew about Sandy's impact on retail sales well in advance, and thus could adjust its numbers, to actually, you know, adjust its numbers. Either way there is no way to spin the longer term major store sales trend (last chart), which shows that the US consumer, out of money, out of credit, and out of savings is entering the holiday season with little to zero disposable spending power.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 11/14/2012 6:24:39 AM PST by Perdogg
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To: Perdogg

Four more years of “Unexpected”.


2 posted on 11/14/2012 6:25:50 AM PST by dfwgator
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To: Perdogg

The recovery is just “astounding”. lolz


3 posted on 11/14/2012 6:26:00 AM PST by GeronL (http://asspos.blogspot.com)
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To: Perdogg

Anecdotal evidence is just that but I recently entered an upscale mall with every intention of buying 5-6 fall/winter outfits including shoes.

The styling, details and most of all the quality on offer was appalling. Perhaps it’s possible to get Chinese-made goods that don’t resemble dodgy street market knockoffs but I never saw any on the day.

I walked out empty-handed.

Good luck with that urban hip thing.


4 posted on 11/14/2012 6:28:36 AM PST by relictele
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To: Perdogg

Just wait until the November sales miss is announced.

Our family will not spend money on gifts this Christmas. We will get together, and that will be our gift to each other. There is no need for shopping and shipping to have a joyful celebration of our Savior’s birth.


5 posted on 11/14/2012 6:28:36 AM PST by txrefugee
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To: relictele

Even Hugo Boss is made in China and yet they want $100 per shirt. **sigh**


6 posted on 11/14/2012 6:30:58 AM PST by Perdogg (Rep. Tom McClintock (R-CA4) for President 2016)
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To: txrefugee

Most will have horns pulled in because the Loose Cannon has a new lease on life.


7 posted on 11/14/2012 6:33:02 AM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: relictele

I hear JC Penney is having a fire sale :).


8 posted on 11/14/2012 6:33:55 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: dfwgator

Yes. The big word the past two years was “Shock”. Everything that went wrong was just shocking because it didn’t play well with the illusion we were in a glorious recovery.


9 posted on 11/14/2012 6:35:43 AM PST by formosa (consider me galt)
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To: relictele

Everyone’s pinching pennies, manufacturers too.


10 posted on 11/14/2012 6:35:51 AM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Perdogg

Our family intends on pooling our funds and purchasing a few big ticket items for each household. My wife and I are getting a new fridge, my mother is getting a new dishwasher, and my mother-in-law gets a flat-screen TV. Christmas morning will be spent in the kitchen enjoying home-cooked meals and on the porch sipping coffee and enjoy each other’s company.

In years past, we’ve been very generous, but with the looming tax hikes and several life-altering events recently, we’re saving our money and investing in our home and well-being. Material goods won’t be saved if a fire consumes a home.


11 posted on 11/14/2012 6:35:51 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: Perdogg

By mid-December the White House economic team is going to have to have fresh underwear sent in to them on an hourly basis.


12 posted on 11/14/2012 6:37:17 AM PST by Buckeye McFrog
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To: txrefugee

“.....Our family will not spend money on gifts this Christmas. We will get together, and that will be our gift to each other......”
*****************************************************************
And that is, by far, the best gift any of us could hope to give or receive—regardless of any economic circumstances.


13 posted on 11/14/2012 6:37:46 AM PST by House Atreides
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To: MrB

"There's a sale at Penney's!"

14 posted on 11/14/2012 6:39:10 AM PST by dfwgator
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To: txrefugee

AMEN

One thing this past “election” showed is that maybe the only thing we can truly control anymore, is our own wallets and what is left in them after paying Screwtape his cut

And for the first time in many years this family will not be buying toys and clothes for the kiddie “wish lists” provided to us by Holder’s peeps. Not after seeing obama signs in the yards of the illegals, section 8s and habitats for humanity houses. Sow, Reap.

I think animal rescue and personal one-on-one giving to the working worthy will be my charity from here on


15 posted on 11/14/2012 6:39:22 AM PST by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: txrefugee

Same here .... if we do any ‘presents’ at all, they will be homemade. Both sets of grandparents are elderly ... two are fragile and day-to-day & one has cancer. Time spent with them, especially as a family, is more precious than anything else right now.


16 posted on 11/14/2012 6:40:36 AM PST by MissMagnolia ("It is when a people forget God that tyrants forge their chains" - Patrick Henry)
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To: Perdogg

Same with Calvin Klein, Jones NY and all the other overpriced designer crap. No more for me!


17 posted on 11/14/2012 6:40:51 AM PST by angcat
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To: Perdogg
Big Miss?

Like this?


18 posted on 11/14/2012 6:40:57 AM PST by Paladin2
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To: MrB
"I hear JC Penney is having a fire sale :)."

Maybe a Fire Island Sale?

19 posted on 11/14/2012 6:42:43 AM PST by Paladin2
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To: MrB
I hear JC Penney is having a fire sale

The last time I walked through a JC Penney's, most of the clothing that I saw looked like it belonged in a fire. I asked my wife who was buying this stuff. She didn't know either.

20 posted on 11/14/2012 6:43:06 AM PST by MulberryDraw (That which cannot be paid, won't be paid.)
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To: silverleaf

Obama signs schmobama signs. If signs were what mattered last week, Mitt Romney ought to have won handily.


21 posted on 11/14/2012 6:44:37 AM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: relictele

You are so right. Most cotton or wool clothes are just thin
rags. Many men’s suits are 100% polyester and rayon. Granted good quality clothes can still be found like nuts in the woods but the prices appear to be 2 or 3 times what they were a couple years ago.


22 posted on 11/14/2012 6:46:15 AM PST by Average Al
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To: Paladin2

Left to right
Woman #1 - Not Guilty
Woman #2 - Not Guilty
Woman #3 - Guilty


23 posted on 11/14/2012 6:48:17 AM PST by Perdogg (Rep. Tom McClintock (R-CA4) for President 2016)
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To: Perdogg

Well, look on the bright side America. We kept Obama in office.


24 posted on 11/14/2012 6:49:40 AM PST by AppyPappy (If you really want to annoy someone, point out something obvious that they are trying hard to ignore)
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To: angcat

I wish I could afford Tom Ford though.


25 posted on 11/14/2012 6:49:50 AM PST by Perdogg (Rep. Tom McClintock (R-CA4) for President 2016)
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To: Perdogg

I know we’re cutting back this year.


26 posted on 11/14/2012 6:50:20 AM PST by kevkrom (If a wise man has an argument with a foolish man, the fool only rages or laughs...)
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To: txrefugee

x2

I have young kids and we have spent thousands at Christmas’ past. Not this year. We already told our kids that we’re not doing that this year and they are totally okay with that.

Let the Obama voters pump the economy.


27 posted on 11/14/2012 6:51:04 AM PST by Obadiah (Americans said, "Give us Barabbas!")
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To: Perdogg

If you have growing boys, here’s how to save money on pants. Just keep pulling them down lower and lower. You save money and your boys stay fashionably “gangsta hip” at the same time.


28 posted on 11/14/2012 6:55:52 AM PST by Drawsing (The fool shows his annoyance at once. The prudent man overlooks an insult. (Proverbs 12:16))
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To: Perdogg

I’m going to go out on a limb and predict that this Holiday Season will be a disaster for Retailers.


29 posted on 11/14/2012 6:59:28 AM PST by The Sons of Liberty (Never Underestimate the Power of Evil or Evil Doers)
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To: relictele
The styling, details and most of all the quality on offer was appalling.

Now that 0bama has stolen the election and secured power, fashion designers are switching clothing line to conform with the new edicts from Emperor 0bama, so there are temporary shortages. The new fashions that will be in store soon are:

Men - Mao Jackets to reflect the proletariat tastes, and in any color you wish as long as it is gray.

Women - Burkas in the latest styles with the new "Sharia Look" that is popular abroad

30 posted on 11/14/2012 7:05:45 AM PST by The Sons of Liberty (Never Underestimate the Power of Evil or Evil Doers)
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To: The Sons of Liberty
The "New Hip":

31 posted on 11/14/2012 7:07:51 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Perdogg

Stop Retail “Holiday” Spending.

Christmas and the holiday season was meant to spend time with family and friends, not spending thousand$ on products wanted and not needed.

If something is ‘needed’ - buy it - if not, don’t...

We’ll need the money saved to pay exorbitant taxes
(and make that known when explaining to expected present recipients-make it known now so they won’t buy anything for you too)

“I’m Dreaming of a Galt Christmas”


32 posted on 11/14/2012 7:10:17 AM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: Perdogg

DEFUND. Prepare. Persevere.

$ power. It’s easy.


33 posted on 11/14/2012 7:24:12 AM PST by PGalt
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To: All

Great thread BUMP! Give thanks / merry Christmas!


34 posted on 11/14/2012 7:30:36 AM PST by PGalt
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To: Perdogg
Well, I see where this is going. Just because they are under 40 doesn't mean they are innocent.

I see at least two Mrs. Potato heads.

.....

.....................................

35 posted on 11/14/2012 7:54:31 AM PST by Paladin2
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To: Perdogg

I still wear designer stuff but actually pay less for it than I would spend on clothing at Walmart. I shop Nordstroms Rack, Saks off Fifth, and Neiman Marcus Last Call. I only shop the clearance racks and sales plus I have member cards for all that will usually get me another percentage off.
I did what little Christmas shopping I do a couple of weeks ago. I paid $6.60 for a top for my best friend that is Jones New York. I bought my granddaughter a Juicy sweat shirt for $14.98. I bought myself a really cute pair of wedge sandalw that had a clearance tag of $14.99 on them that rang up as $1. The sales girl laughed.
People are amazed at the deals I get. You just have to be smart about it.


36 posted on 11/14/2012 8:37:17 AM PST by sheana
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To: Perdogg

The stores didn’t see me the last three Christmases and they won’t see me this year either. It’s going to be another year of no-expense homemade gifts. One year, a friend and I pooled our “got for free” and old scraps of holiday fabric to make a dozen table covers. Another year was more free fabric for totes and 13 monogrammed laundry bags for the teens and re-purposed items into purses for the girls. Last year was even more free fabric and free thread for 16 table runners. This year, it’ll be wreaths of dried red chili peppers from the garden and homemade jelly to those trusted few who promise to bring back my jars.


37 posted on 11/14/2012 9:27:43 AM PST by bgill (We've passed the point of no return. Welcome to Al Amerika.)
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To: HiTech RedNeck

Yes, one rare honest article pointed out that fashion trends are nothing more than a desperate ploy to foist fewer raw materials and cheaper components on the public, e.g. zippers instead of buttons.

To make matters worse, the good stuff is 2-3 times as expensive as it used to be. Now is that price-gouging of consumers who still seek quality goods or is it the true cost of such goods under our leftist leaders’ inflationary policies?


38 posted on 11/14/2012 10:05:10 AM PST by relictele
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To: Perdogg

If retailers are depending on people like me (the OldPossum) for their Christmas sales, they are in for a world of hurt. I’ve already notified my relatives and others that I do not wish any gifts, nor will I give any. Part of the going Galt plan that Mrs OP and I will follow.


39 posted on 11/14/2012 10:53:28 AM PST by OldPossum
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