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Retail Sales Plummet
Wall Street Journal ^ | DECEMBER 26, 2008 | ANN ZIMMERMAN, JENNIFER SARANOW and MIGUEL BUSTILLO

Posted on 12/26/2008 5:34:47 PM PST by An Old Man

Edited on 12/26/2008 5:35:48 PM PST by Admin Moderator. [history]

Price-slashing failed to rescue a bleak holiday season for beleaguered retailers, as sales plunged across most categories on shrinking consumer spending, according to new data released Thursday.

Despite a flurry of last-minute shoppers lured by the deep discounts, total retail sales, excluding automobiles, fell over the year-earlier period by 5.5% in November and 8% in December through Christmas Eve, according to MasterCard Inc.'s SpendingPulse unit.


(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: christmas; retail
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To: Eye of Unk
I know its a stretch but has any thinkers thought of America just doing a sit down protest? They can bluster all they want but America is protesting, and yet they still have no clue why.

I'm a thinker and I'm doing just that. I've stopped buying much of anything (found that I have way more than I need at the moment) and I'm not going out looking for new business. I'm on hold until I see how this plays out.

61 posted on 12/26/2008 8:34:22 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: Comparative Advantage

Florida:

Burdines, Richards, Jackson/Byron’s, Zayre’s, Jordan Marsh Dept. Stores

Food Fair, Pantry Pride, Woolley’s, Grand Way, Kwik-Chek : Grocers

Fedco, Eckerd Drugstores


62 posted on 12/26/2008 8:35:59 PM PST by Frank_2001
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To: whipitgood
From an upthread (6 posts above) on the slump in Japan.

"A record-breaking fall in industrial output figures for November showed that the country’s huge manufacturing economy is collapsing far more rapidly and painfully than even the bleakest market forecasts believed possible. The 8.1 per cent month-on-month slide — a dramatic collapse from the 3.1 per cent decline logged in October , stunned many economists. Richard Jerram, of Macquarie Securities, said that the pace of collapse had almost gone beyond the point of sensible analysis.

Seems an 8% month on month decline is "a pace of collapse had almost gone beyond the point of sensible analysis"

Buying more ammo tomorrow....

63 posted on 12/26/2008 8:36:35 PM PST by spokeshave (0bambi wants to kill babies and raise taxes, Sarah wants to raise babies and kill taxes)
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To: xcamel
Amazon has killer deals, if you have patience. I've bought a lot of things from them, and so far, no problems. Early this year I got a Sony 15" powered subwoofer from them for $160, no tax, free shipping. Other dealers wanted over $300, plus shipping and handling.

The trick is to put your "want" items on a list, and check the prices a few times a week. If you're willing to wait for months, there will be an unannounced ridiculous price drop on that item, sometimes 50% or more.

I guess it depends on what kind of truckload deals they are able to obtain from the manufacturer.

64 posted on 12/26/2008 8:38:24 PM PST by FlyVet
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To: Frank_2001

When did Eckerd Drug go out of biz?


65 posted on 12/26/2008 8:45:51 PM PST by Comparative Advantage
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To: Domandred

I’m still waiting for my Springfield XD9 to come in. I’m on the waiting list.


66 posted on 12/26/2008 8:52:28 PM PST by doug from upland (8 million views of .HILLARY! UNCENSORED - put some ice on it, witch)
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To: An Old Man

No wonder retail sales have plummeted. They’ve been telling everyone for an entire year+ that the economy is the worst ever, that everyone’s losing their job, and that we are in a crisis.

Also, there’s nothing new under the sun. Who wants another pair of jeans, another gadget, or another gizmo?

They’re trying to make this the worst ever economy, so they can claim having saved us from the end of the world, but it’s just not so.


67 posted on 12/26/2008 8:59:38 PM PST by xzins (Retired Army Chaplain, Pro Deo et Patria)
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To: combat_boots

It’s always come down to odds. And the system is more sturdy than folks suspect — though they’ll be a lot of people let go along the way.

Business is not as complicated as people make it seem. Simply figure out a way to make money for the employer and you have a job for as long as you want one.


68 posted on 12/26/2008 9:05:18 PM PST by durasell
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To: pnh102
this means there might be some good deals to be had now.

It'll get my attention when they start giving stuff away.

Otherwise, no sale for now.

69 posted on 12/26/2008 9:06:01 PM PST by dragnet2
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To: An Old Man

70 posted on 12/26/2008 9:08:25 PM PST by blam
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To: An Old Man
"The weak holiday sales mean more chains are likely to follow suit next year."

Use your gift cards as quickly as possible.

71 posted on 12/26/2008 9:11:22 PM PST by blam
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To: spokeshave
Japan Output Slumps, Korea Sees "Unprecedented Crisis"

By Hideyuki Sano and Yuko Yoshikawa

TOKYO, Dec 26 (Reuters) - Export-reliant Asian economies showed more signs of weakness on Friday, with Japan's industrial output diving at a record pace and South Korea warning it faces an "unprecedented crisis" as global demand wilts.

Even the once unstoppable Chinese economy is feeling the strain, with companies recording a sharp slowdown in profit growth in the first 11 months of the year.

On top of Japan's steep fall in industrial output in November, core consumer inflation fell faster than forecast last month, putting the shrinking economy on course for a spell of deflation next year.

[snip]

72 posted on 12/26/2008 9:48:15 PM PST by blam
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To: An Old Man

The lines tonight were long at Walmart in my area.


73 posted on 12/26/2008 10:07:56 PM PST by Names Ash Housewares (Refusing to kneel before the socialist messiah. 1-20-13 Freedom Day.)
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To: randog

Me too. I walked out of Walmart. Plenty of politically correct help wandering about, but none at the checkouts.
Put my items aside rather than put in 20 minutes.


74 posted on 12/26/2008 10:11:19 PM PST by Wiseghy ("You want to break this army? Then break your word to it.")
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To: randog

My experience at wal Mart to a T. I gave up of them for the most part over 5 years ago. I hate waiting in line. Even more so when 20 people in one line and 25 other lanes not open.


75 posted on 12/26/2008 10:16:43 PM PST by packrat35 (To crush your enemies, to see them driven before you, and to hear the lamentation of their women...)
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To: factoryrat
Yea my wife and I also. I spent $15 on my wife this year and she spent $40 on a socket set for me, which today she made me use to fix the refrigerator. Tomorrow is the dryer.

We did spent money of the kid but cut back there some also.

76 posted on 12/26/2008 10:21:03 PM PST by packrat35 (To crush your enemies, to see them driven before you, and to hear the lamentation of their women...)
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To: pineybill

Add Crazy Eddies - Our prices are insane!!!!!


77 posted on 12/26/2008 10:21:04 PM PST by Fee
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To: blam

I just saw an article about retailers and one about commercial real estate, both applying to the feds for a bailout.


78 posted on 12/26/2008 10:25:08 PM PST by Fee
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To: xcamel

I think Walmart and Fred Meyer here on the West coast did well....stores were packed....the economy is not so bad where I live...eastern washington.....


79 posted on 12/26/2008 10:31:46 PM PST by cherry
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To: Comparative Advantage

Eckerds was bought out by J.C. Penney in 1996. In 2004 they split it up three ways. So depending what part of the country you live depends on who owns and runs the former Eckerds. In the south CVS bought majority of the Eckerd stores.


80 posted on 12/26/2008 11:01:07 PM PST by neb52 (Currently Reading: A Medieval Home Companion: translated by Tania Bayard)
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