Snowstorm Chills Retail Sales

[Pale Blue Dot]

http://www.reuters.com/financeNewsArticle.jhtml?type=businessNews&storyID=3963285

NEW YORK (Reuters) - The snowstorm that blanketed the Northeastern United States this past weekend hit retailers hard, but lean inventories could end up helping holiday sales, economists said on Tuesday.

Sales retreated 2.5 percent in the week ended Dec. 6, the Bank of Tokyo-Mitsubishi and UBS said in a joint report, after a 0.1 percent fall the preceding week. The decline was the steepest since Dec. 2, 2000, when sales fell 2.6 percent from the preceding week.

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My own personal anecdotal evidence is very troubling. I work for a very competent retailer and, despite a record breaking Black Friday, our sales have been nowhere near last year's, even after the snow has cleared. I would be afraid, folks.

[DUreader]

1. I'm sure the Rah-Rah Economists are happy to have snow to blame

If not for that snow, I tell ya, the economy is doing great so

disregard the numbers

[KayLaw]

2. Thanks, Finnfan

With all the recently announced layoffs and the 80,000 to 9,000 people per week about to lose their unemployment benefits, how high can sales go?

[bushisanidiot]

3. AWOL Will Blame His Failed Economy On A Snow Storm

nothing is his fault.. ever.

Why aren't people spending those rebates and "boosting" the economy like you promised prez. AWOL?

What a WEAK "president". Gawd, I can't wait for the dems to take over and fix our country.

[sleipnir]

4. Happy Capitalism to You!

And to all a good sale....

Let 'em tank

[TEXASYANKEE]

5. We're having great weather in Dallas

and yet, at a local mall and a local Target store yesterday, no lines. No crowds. Parking spaces everywhere. I can't extrapolate these 2 places to the rest of the city (or the rest of the country) but it reminds me so much of the situation last year. The media was telling us that the economy was great and sales were up up up, but at the stores -- no lines, no crowds.

[mbperrin]

8. Exactly the same in Odessa...

little clump of cars at the Penney and Sears entries to the mall, that's all!

Look at the Bush* economic miracle go!

[hang a left]

13. You know something, it is really weird here, in San Diego also.

I have noticed the places that I will usually go to shop for little decorative knick knacks to put around the house to make it all Christmasy, hardly have anything to chose from, there decoration stock is very limited. Also no lines, no big crowds, it is eery.

Another thing that I noticed was about a week or 10 days before Thanksgiving, I went looking for a couple platters and things to spruce up the table for a large group of people. I could find nothing, nada, zilch. All the fall stuff was gone, I mean not even a table with the last few items in stock that are discounted. All the Xmas stuff was already out and not alot of it. I had the spookiest feeling, it was like, I wonder if this is the last Christmas we are going to have.

[MaineDem]

6. LL Bean online and phone sales up

I read in the local paper this morning that sales were up over 10% during the storm.

[Melsky]

7. No snow here in the desert!

I went to a mall in Palm Springs last Saturday. It was deserted. I saw no lines, no crowds and plenty of parking spaces.

Also, about 10 percent of the store spaces were available for lease.

[alcuno]

9. But I heard that the snowstorm caused them all to go shopping.

Hmmm. Someone is not telling the truth.

[Auntie Bush]

10. Bush team lying again!

All the talk about the economy doing so great is Bull S***.
My Daughter-in-law is a manager in a Liz Clayborne oulet and last year on Black Friday they sold $22,000 and this year they only sold $11,000. And wasn't last year suppose to be so awful?

[bigtime]

11. snowstorm or no snowstorm

i'm gonna do my patriotic duty and shop. at walmart. dadgummit.

[bleedingheart]

12. Lack of Extra Cash is hurting Christmas Sales..

I have seen people drive through worse conditions to get to the mall..

My hubby and I were at our local mall last saturday with the kids so they could sit on Santa's lap (cough on santa)... and I could get my hair cut...

The parking lots were not that full... and the snow had been cleared... (we got about one foot)...so you know what...Its the Economy Stupid.. (directed at *)