Retail Sales Plummet

sales each year should grow 4-5%

this time a drop of 4-5%. thats more like a 8-10% drop.

I was reading the paper today and there was an article and picture of retail stores showing that the discount/bargain bins/racks had more employees than customers of certain chains/stores going out of business.

This may sound a dumb question but high finance is not my strong point: Why is no more than 5 or 6 percent considered 'plummeting?' I can understand 20%, maybe but really this doesn't seem like much of a drop. I really expected worse.

Retail sales are supposed to go UP.
To decrease any amount during what is supposed to be
the busiest time of the year would be a disaster,
to drop 5 or 6% is a HUGE disaster.
A lot of retailers depend on this season to sustain them during teh rest of the year.
160,000 retailrts have gone "tits up" this year, expect another 200,000 next year.
This was a guess, these sales figures practically
guarentee it

When was the last time Christmas retail sales were down?

Besides, do you really believe the MSM reports anymore?

I mean come on dude, get a clue!

It seems walmart had no employees. They offer those bargains to increase sales and it didnt work. Look for more sales then bankruptcy this summer.

Am I overestimating the American consumer by thinking maybe all those scandals about China trying to poison us all had something to do with Walmart's troubles. They are about the biggest importer of Chinese goods, aren't they?

What about that letters of credit problem? That would stop a lot of retailers from getting their merchandise in the first place, wouldn't it? That's why I said earlier, I expected worse. It wasn't just that consumers have cut down the buying; banks have cut down the money flow.

I'd love to see Wal-Mart bite the dust.

We'd be MUCH BETTER OFF with "Mom and Pop" stores.

Most ma and pa stores I know gouge the prices big time.

must be time to step aside...

Credit crisis in Australia as well? What credit crisis lol


-Australians spend record amount at pre-Christmas shopping spree-

CONSUMERS across Australia have spent a record $38 billion in the lead-up to Christmas, with another $7 billion expected to be handed over the counter in coming weeks.

NSW consumers have so far been the biggest spenders, splurging around $12 billion, followed by Victorians at $9 billion and Queenslanders at $8 billion.

Peak industry groups say sales are up on last year's record by four per cent.

With pre-Christmas shopping all but over, NSW is also tipped to spend $300 million in Boxing Day sales this Friday, followed by Victoria at $260 million and Queensland at $190 million.

Shoppers will be able to take advantage of sales of up to 70 per cent off or more for approximately two weeks into January, peak industry groups suggest.

Retailers' Association executive director Scott Driscoll said retailers would be taking a much deserved break on Christmas Day in the lead-up to the mad rush of the post Christmas sales.
"Christmas Day is the eye of the retail storm," he said.

He said it was great to see that Australians had shrugged off doubts about consumer confidence, forecasting sales in the two weeks from Boxing Day to continue to be four per cent higher than last year.

"The best bargains to be found will be white goods or electrical appliances at the big chain stores," he said.

However, he advised keen shoppers to make sure they were ready to spend when doors opened, and to also expect a little competition from fellow buyers when it came to limited stock.

"A lot of retailers will open between 8am and 9am, so make sure you don't have a big one on Christmas night."

Federal Treasurer Wayne Swan encouraged people to "spend responsibly".

"So, if they're spending a bit more in the lead-up to Christmas ... that's all good for the economy and that's certainly encouraging," Mr Swan said.

Australian singer-songwriter Delta Goodrem will launch David Jones' 103rd post-Christmas clearance at its Sydney city store at 6am (AEDT) on Boxing Day.

Some major chain stores across the nation will open as early as 5am this Friday, however the majority will open at either 8am or 9am.

[link to www.news.com.au]

Yeah because they actually have to make a living and pay for the store.

Retailers need to be shafted.

returned a clothing gift item to a store
today as it didnt fit only to
find the same item is now half price
the lucky recipient now gets two!