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Retailers brace for a tough holiday season
CNN Money ^ | Monday, Veteran's Day, November 11, 2013 | Hibah Yousuf

Posted on 11/11/2013 7:57:32 PM PST by SunkenCiv

Sales growth during the fourth quarter is shaping up to be the weakest since 2008, according to predictions from Morgan Stanley.

Same-store sales, a key metric that measures sales at store locations open at least a year, are expected to grow a mere 1.6% from a year ago during the fourth quarter, Morgan Stanley estimates. Last year's holiday sales were up 3.5% from the fourth quarter of 2011.

The 1.6% figure excludes sales at troubled J.C. Penney (JCP, Fortune 500). That's because J.C. Penney is expected to offer deep discounts to try and get back on track after a disastrous drop in sales last year. As a result, J.C. Penney may not have that tough a time beating last year's low bar. And its results could skew the overall sales figures for the industry.

Why will sales be sluggish this year? The culprit appears to be weak consumer confidence. While Americans have more to spend thanks to a rising stock market, higher home values and low gas prices, they're not so willing to part with their cash.

"Concerns over future income linger and the government shenanigans have dampened confidence on the cusp of holiday shopping," Morgan Stanley analysts said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: aca; bhoeconomy; christmas; cnn; jcpenney; retail; shenanigans
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"Concerns over future income linger and the government shenanigans have dampened confidence on the cusp of holiday shopping," Morgan Stanley analysts said.


1 posted on 11/11/2013 7:57:32 PM PST by SunkenCiv
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

https://twitter.com/intent/user?screen_name=HibahYousuf

https://twitter.com/intent/user?screen_name=CNNMoney

Outrage over Kmart’s Thanksgiving decision
[plans to stay open 41 hours straight — Kmart used to be 24 hr]
By Emily Jane Fox @emilyjanefox November 5, 2013: 2:58 PM ET
http://money.cnn.com/2013/11/05/pf/kmart-black-friday-customer-outrage/index.html

Gas under $3 - coming to a station near you
By Chris Isidore @CNNMoney November 11, 2013: 10:15 AM ET
http://money.cnn.com/2013/11/11/news/economy/3-dollar-gas/index.html

Harvard’s deficit skyrockets to $34 million
By Emily Jane Fox @emilyjanefox November 11, 2013: 2:08 PM ET
http://money.cnn.com/2013/11/11/pf/college/harvard-deficit/index.html


2 posted on 11/11/2013 8:00:27 PM PST by SunkenCiv (http://www.freerepublic.com/~mestamachine/)
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To: SunkenCiv

I don’t care if the economy was doing good....the Homo-enablers at JCP won’t get a dime from me.


3 posted on 11/11/2013 8:03:06 PM PST by dfwgator (Fire Muschamp.)
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To: SunkenCiv

This is all the purist nonsense.

The MSM has been telling me for months that the Obama recovery - that started back in the summer of 2009 - is really starting to accelerate, and the economy is about to come roaring back.


4 posted on 11/11/2013 8:04:33 PM PST by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: SunkenCiv
Gas under $3 - coming to a station near you

Great!

Now if only we could get some gas in our "gas".

5 posted on 11/11/2013 8:04:47 PM PST by ROCKLOBSTER ("The government" is nothing but a RAT jobs program)
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To: SunkenCiv

I’m done with my shopping. Bought boxed candy at the first store that offered two for the price of one. The kids like a box of candy with their check. All’s done but the wrapping. Older folks get those Sherpa throw and pillow sets. My clan gives gifts in a reasonable price range.


6 posted on 11/11/2013 8:05:01 PM PST by Ciexyz
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To: SunkenCiv

It sure doesn’t help not knowing how much medical insurance is going to skyrocket so that some people can get it free.


7 posted on 11/11/2013 8:06:36 PM PST by CitizenUSA (Democrats. The only constitutional rights they believe in are sodomy and abortion.)
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To: SunkenCiv
Sales growth during the fourth quarter is shaping up to be the weakest since 2008


8 posted on 11/11/2013 8:08:05 PM PST by massmike (If I like my tagline,I can keep it! Obama said so..........)
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To: SunkenCiv

I’m buying everyone I love a gas card for Christmas while the gettin’ is good!

Hopefully, they’ve learned a thing or two from me and will hoard it for a rainy day...which will be a week later come January 1, 2014!


9 posted on 11/11/2013 8:08:39 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: SunkenCiv

I’m going to shop on Thanksgiving!


10 posted on 11/11/2013 8:09:12 PM PST by BunnySlippers (I LOVE BULL MARKETS . . .)
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To: SunkenCiv
No mention of the effect of Obamacare. People dropped from their insurance, doubled and tripled premiums, high deductibles and more. People aren't sure how they are going to pay for Obama’s redistribution of wealth scheme.
11 posted on 11/11/2013 8:09:38 PM PST by fatnotlazy
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To: ROCKLOBSTER

Gas just hit $2.83 here today.

And we just had another $1000 chainsaw go down because of the alcohol in the gas


12 posted on 11/11/2013 8:09:51 PM PST by digger48 (/)
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To: Ciexyz

I think for Christmas everyone gets a digital copy of my new story.

lol


13 posted on 11/11/2013 8:10:10 PM PST by GeronL
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To: SunkenCiv

Not gonna shop at Gaycee Penneys again.

I shop on craigslist now.


14 posted on 11/11/2013 8:11:31 PM PST by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: Ciexyz

“I’m done with my shopping”

Me too. All I will give are wine from the 99 Cents Store.


15 posted on 11/11/2013 8:13:26 PM PST by max americana (fired liberals in our company last election, and I laughed while they cried (true story))
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To: SunkenCiv
Cutting back at Christmas isn't sufficient. It needs to be done year round. Wife and I have reduced non-essential spending by at least 40% from a year ago. Plans in place for 2014 to be less than half of what 2012 was.

The great part about being in Silicon Valley (California) is that there is no point donating money to the local or state GOP.

16 posted on 11/11/2013 8:17:49 PM PST by CatOwner
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To: fatnotlazy

I think Obamacare is going to have a *hugh* effect on spending.

This past week a number of people I know in the restaurant business have had very bad nights. They haven’t seen business this bad in years. I’m wondering if it is because of the cancellations and Obamacare.


17 posted on 11/11/2013 8:18:01 PM PST by ladyjane
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To: ladyjane

We’ll see. They reported last month that consumer debt was at its highest in quite some time (2009?). People, particularly those without the means to pay off their credit cards and car loans, will continue to add to their debt until someone bails them out.


18 posted on 11/11/2013 8:20:26 PM PST by CatOwner
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To: max americana

I’m giving out #2 pencils. And they’re brand new.
My confidence has been dampened for 5 years.


19 posted on 11/11/2013 8:21:00 PM PST by tumblindice (America's founding fathers: All armed conservatives.)
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To: ladyjane

I sell vintage clothes online. I can second this trend you are seeing. The past couple of weeks have been insanely slow for me.


20 posted on 11/11/2013 8:22:07 PM PST by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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