Posted on 12/25/2012 4:22:09 PM PST by Steelers6
The annual holiday shop-a-thon drew to a muted close for many retailers, according to preliminary data, reflecting what some experts said was the slowest growth in spending since the 2008 recession.
For the eight weeks from Oct. 28 through Christmas Eve, retail sales for the holidays rose just 0.7% from the year before, according to MasterCard Inc.'s SpendingPulse unit.
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A man with shopping bags sleeps in Macy's in New York on Monday. . After falling 5.5% in 2008, holiday sales rebounded strongly in 2009 and 2010, and rose about 2% last year, according to the company's data, which are based on sales activity in the MasterCard payments network and estimates for all other forms of payment, including cash and checks. The figures exclude restaurants and sales of automobiles, groceries and gasoline.
This year, "it's a lost season," said Michael McNamara, Spending Pulse's vice president of research and analysis. "Sales and volume are about the same as last year, but the growth was marginal."
He and other analysts said a steep sales decline in the mid-Atlantic states that were walloped by superstorm Sandy dragged down the overall tally.
Retail consulting firm Customer Growth Partners said 2012 looks like the worst holiday-shopping season since 2009. Sales rose roughly 2.8%, after a 5.8% jump in 2011, according to its president, Craig Johnson.
(Excerpt) Read more at online.wsj.com ...
They have to talk to Obama before they put out real (cough, cough) numbers. Our stores were packed....more so than last year and the nice weather helped.
Probably Bush’s fault.
Sandy will bring a boom....Things have to be replaced and the infrastructure repaired.
we didn’t buy gifts....
Buy American.
Stop importing everything.
I didn’t spend a dime.
That’s because they did not include GUNS AND AMMO in their calcualtions.
We are no longer manufacturers. Try and find made in America.
This is quite unexpected...
I've sold items on-line for many years....This year has been the worst.
Last year wasn't much better....
Same here...neither my wife nor I spent a dime...
seems like i remember sales were just fine before the election
RUGER!!!!!
One of our two parties is going to get with it, and start demanding changes in the way we deal with imports, vs domestic production.
If one of our two current parties doesn’t, then a new party will rise to power with the agenda and smoke both of the current parties.
GOP. Get with it.
Not soon. NOW!
And CCI
HENRY REPEATING ARMS !!!!!
Might help if they would quit spitting on Christmas in their loathsome advertising. I take names on who uses “holiday” instead of Christmas. They insult me and then want my money.
I bought the staples, ammo and cigars.
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