Retailers report collapse in sales, possibly weakest Christmas shopping season in decades

[Sister Fracas 5]

We need to all remember one thing:

to love one another and take care of eachother.

(where is that hippie graphic? hahahaha)

You called...?

Homemade and fair trade gifts from me this year!

[w¡n9Nµ7 §£@¥€r 123]

My thread is turning into a hippiefest

[Sister Fracas 5]

My thread is turning into a hippiefest

w00t!

[*Robert* 2]

My thread is turning into a hippiefest

w00t!

Damn Hippies!!!

[almaty 19]

Edited November 7, 2008 by almaty

[Sister Fracas 5]

Damn Hippies!!!

MWAH

[chri'stina 190]

Go buy on Etsy.com! Handmade items, artsy fartsy. Buy from me. I can't post my "shop" link since it's not allowed.

*advertisement over*

[*Robert* 2]

Damn Hippies!!!

MWAH

Awwwwww.... Thanks Sister!

[w¡n9Nµ7 §£@¥€r 123]

Go buy on Etsy.com! Handmade items, artsy fartsy. Buy from me. I can't post my "shop" link since it's not allowed.

*advertisement over*

How do I find you there. Use PM if necessary.

[chri'stina 190]

Well, one may be able to find my store by going to my new blog listed in my siggy.

[NickD 203]

Sales at the nation’s largest retailers fell off a cliff in October, casting fresh doubt on the survival of some chains and signaling that this will probably be the weakest Christmas shopping season in decades.

The remarkable slowdown hit luxury chains that sell $5,000 designer dresses as badly as stores that offer $18 packs of underwear, suggesting that consumers at all income levels are snapping their wallets shut.

Sales at Neiman Marcus, the luxury department store, dropped nearly 28 percent in October compared with the same month last year. Sales fell 20 percent at Abercrombie & Fitch, nearly 17 percent at Saks, 16 percent at Gap and nearly that much at Nordstrom.

Of the more than two dozen major retailers that reported on Thursday, most had sales declines at stores open at least a year, the majority of the decreases in double digits. Deep discounters like Wal-Mart and BJ’s Wholesale Club reported gains.

Consumer spending represents two-thirds of the nation’s economic activity, and analysts said the striking sales declines at retailers almost certainly portended an extended, severe recession.

...

Only a few months ago, retailers thought they were prepared for the economic slowdown. They cut inventories in anticipation of weak back-to-school sales. But to their shock, sales declines reached double-digits in September, only to get worse in October.

The result? Retailers have too much fall merchandise still on their shelves, even as Christmas merchandise is starting to arrive.

http://www.nytimes.com/2008/11/07/business/07retail.html

Ha, don't have to listen to the news anymore, can just come here, but have to admit your coverage is much greater. Is it fair and balanced? Did switch on Fox for a few minutes yesterday, still crying about the election, wonder how long that will last? Four years?

Also heard a barrel of crude is down to 40 bucks, if I heard that right, sounds like the energy guys are getting concerned about the recession they caused.

Couldn't we have just purchased Paulsen's seven bad mortgages and let the others go?

[w¡n9Nµ7 §£@¥€r 123]

Well, one may be able to find my store by going to my new blog listed in my siggy.

reported!

[chri'stina 190]

who?what?where?

[LaGreenEyes 0]

Sounds like there will be some really good post-Christmas SALES!!!

That's EXACTLY what I was thinking...thank goodness I'm one of the lucky ones that got to keep my job this year and moved again to where the cost of living is lower.

I'm a self-proclaimed "brand-ho" so....maybe that high end stuff I want will go on sale right before or after Christmas at Neiman's! LOL! I NEVER EVER pay full price!

[one...two...tree 2,762]

I agree with Sister Spirit's idea of consuming less as a goal, but right now, our economy is driven largely on consumerism and it isn't about shift anytime soon...we need to stop the bleeding, before major reconstructive surgery.

I think now it's more important than before to be selective with where you shop. Support the local merchants when you can.