Wal-Mart says holiday sales at low end

[RamboLiberal]

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251727009&p=1012571727108

Wal-Mart warned on Monday that sales were still tracking at the low end of its target range for December, in the latest sign that holiday retail sales in the US could be lacklustre.

Forecasters and retailers had been looking for a sharp rebound in sales from last Christmas, when, by some measures, sales growth was the slowest for 30 years.

The National Retail Federation, the industry lobby group, forecast total holiday sales would increase 5.7 per cent, year on year - the strongest increase since 1999 - compared with only a 2.2 per cent gain last year.

But Wal-Mart, the world's biggest retailer, which accounts for about 8 per cent of non-automotive retail sales in the US, warned for the second week running that sales from stores open at least a year were still towards the low end of its 3-5 per cent projected range.

[TopesJunkie]

1. Yeah, "the recovery" has been oversold many fold.

[Quixote1818]

12. Neiman Marcus Soars

I saw an article in USA Today and it showed that sales at Department stores were down 1.1% this year yet at Neiman Marcus, Sacs Fifth Aveneue and the other uper end stors sales were between 6% and 12% up from last year. Call Bush Hood Robin, he takes from the poor and gives to the rich.

[Beetwasher]

2. And that's after they revised their expectations downward already

n/t

[markus]

3. Well, its that Orange Alert and all

Certainly not Bush*'s fault.

Now get busy shopping of the terrorists win. Hell, you might even be aiding the enemy if you don't get out there right now and run up at least another $1,000 on your credit cards.

[tom_paine]

7. Yeah, that Orange Akert was certainly conveniently timed, wasn't it?

Provides plausible deniability and all that...

[impeach the gop]

4. Boycott's working after all

n/t

[auburnblu]

9. Boycott working??? Sales are still up.

I would assume that for anyone to think that a boycott is working, sales would need to decline.

[RainDog]

5. where I work...

an independently-owned store, sales have been slow until last week. but the last week has made up for the "avg" slowness from the first of the month.

..we've also had lots of rain and snow, but today the joint was hoppin'.

I had to go to WalMart to take a friend w/o a car. I hate that place, and haven't been into a WalMart in a couple of years. It was so depressing to me to be in there...but it was very busy.

in fact, all the places, like the ones where everything is a dollar, which sell cheap goods have been really busy whenever I've been in them.

I suppose people are still buying, but they're not spending as much money on those purchases.

but all I can say as far as WalMart goes is...GO COSTCO! :)

[porkrind]

13. Walmart is nothing but bad news for Americans

They are at the front of the race to the bottom.

Walmart imports cheap goods from China, using it's influence in congress to make bad trade deals that strengthen China at the expense of Americans. If this continues, there will only be low-paying "McJobs" at Walmart.

:(

[Voltaire99]

19. Wal-Mart's bad news, but China's our sugar daddy

Without China servicing our debt ($177 billion worth through July 2003), we'd quickly be in very big trouble. How else would we pay for boutique purchases like the Iraq war? We're broke!

The arrangement is pretty clear: we will tolerate the Chinese undervaluing their currency and flooding us with cheap goods, all at the expense of our manufacturing base and a soaring trade deficit. In return our oligarchy gets a nice cash fix.

That works great for everyone -- except average Americans and average Chinese!

[nadinbrzezinski]

6. hmmm

we are recovering, our sales are better

(boss they say that they are not, we need an excuse)

Tom bring out the country's mood color ring and put it to Orange, that should be enough cover

What if that does not work boss?

Then by golly go to Red man, we can use a good Martial law now and again, and that will cower them finally

[mikehiggins]

8. Another irony

if Walmart, China's favorite retailer, was to find itself held to a 3% sales increase. If they do that badly you can be sure the more expensive places (not the ritzy ritz places--they'll do fine) will be taking a real bath.

Of course, that won't matter in the Bizarro world of BushCo economics.

[pinto]

10. low end of what? pay scale? benefits? retirement?....n/t

[kalian]

11. Gasp! You don't say!

Gee...what a surprise...not! Imagine: if Wally Mart is claiming
"low sales" what that leaves for the other stores... :eyes:

I want my country back!

[Yo_Mama_Been_Loggin]

14. I went to Wal-Mart last week.

I didn't buy anything however. Most of their stuff is crap. You can't get good quality merchandise if you employ slave labor.

[theoceansnerves]

15. target

target today also announced sales were "below plan." i heard it over the radio.. maybe someone can find the story and post it up.

[gate of the sun]

16. big bummer for the slimballs

wal=mart that is......hey I guess they are the guideline for how much the economy is sucking and that's not good. but well I can't help but being well happy.

[WildThang]

17. boo hoo hoo

Last year (before I started boycotting them) when I tried doing some shopping there, they were understocked on just about everything.
Cheap sobs. Don't worry tho. If a store goes out of business, they'll just leave it standing empty to enhance the natural environment that was there before they paved it and built a warehouse. grrrr

[Rebel_with_a_cause]

18. If 3 tax cuts don't jump-start the economy, try, try, again?

But of course! That's Bush's way, to continue heading down the path of disaster.