US retailers report weak results for December

[Robbien]

Source: AP

NEW YORK (AP) - An already weak holiday shopping season in the U.S. turned out to be even worse than expected for many of the nation's retailers, who reported Thursday they had sluggish sales results for December. The disappointing performance raised more concerns about consumer spending.

The weak results came from across all retail categories, but particularly hard hit were apparel sellers including Limited Brands Inc. and teen retailer Pacific Sunwear of California Inc. Among the few bright spots was Wal-Mart Stores Inc., which posted results that exceeded Wall Street expectations, as it benefited from shoppers traded down to cheaper stores amid higher gas prices and a slumping housing market.

. . .

«It's weaker than expected,» said Jharonne Martis, a retail analyst at Thomson Financial. «There's definitely a consumer spending slowdown.» But she added that she is waiting to see how sales fare in January, when stores benefit from consumers redeeming their gift cards. Retailers don't record sales of gift cards until they are redeemed.

According to a preliminary sales tally by Thomson Financial, 16 retailers missed projections, while seven beat forecasts and one met expectations. The tally is based on same-store sales or sales at stores opened at least a year which are a key indicator of a retailer's health.

Read more: http://www.pr-inside.com/us-retailers-report-weak-results-for-r380204.htm

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Costco is one of the ones who beat forecasts, so that's good.

[bdamomma]

1. too effin bad for those retailers, alot of people do not have the money

to support your big corporations.

[Lone_Star_Dem]

2. We the working people have been forced to tighten our belts

Sagging wages and inflation has dug deep into our pockets and left us with little to nothing left for such things as entertainments.

Until this very simple fact is actually accepted and a fix is sought, there will be no more free lunches for those who make their livings off the backs of we the workers.

It's really as simple as that. We're being bled dry and can no longer support the economy with our earnings.

[ladywnch]

4. people haven 't been able to support the economy on their wages

for some time now. They been supporting it by using money out of their homes and now that's completely fallen apart so there is no discretionary income left to work with.

[Lone_Star_Dem]

6. And credit cards

We must not forget the role credit cards have had in keeping things falsely propped up.

[Skittles]

7. and a lot of people who do have discretionary income

the insecurity is palapable - you don't know when your job may be shipped or a medical catasrophe could occur - hence, you don't feel as free to spend as you did in the past

[fasttense]

3. This is what happens when you move all the jobs overseas.

If you can't work, you can't spend and buy. A simple formula that no one seems to notice anymore.

[Amonester]

5. bUT, Hey! Dubai is such a "new millionaires" paradise! Their MODEL:

where the Emirs can "make" 6 millions on ONE horse race while all the "foreign-national slaves" have to live in "labor camps" that's where "the dic-k$" wanna go...