Consumer Collapse: Retailers Report WORST Sales Numbers In Three Years
The Daily Sheeple
www.TheDailySheeple.com
July 9th, 2012
Reader Views: 337
With employment continuing to slide and the American consumer running out of money to spend, the perception of an economic recovery is very rapidly being exposed as nothing more than a mirage:
The arrival of summer has been less pleasant than expected, at least for U.S. retailers. According to Thomson Reuters, more than two-thirds of U.S. retailers missed expected sales totals during the month of June – marking the worst June sales period in three years.
…
Although there are no simple answers for the retail downturn, a lack of consumer confidence is widely believed to have been the driving force behind June’s dismal sales figures. “Consumers are holding back, cautious and losing confidence,” said IHS Global Insight economist Chris Christopher.
Sluggish sales are a problem throughout the entire retail industry. But the consequences of an off month can be especially problematic for smaller retailers, many of whom are competing with big box stores.
The loss of consumer confidence can be traced to several factors including recent stock market declines, the European financial crisis, China’s slowing economy and lackluster May employment growth in the U.S. However, weather may also have played a role at the end of the month with tropical storm Debby along the southeastern seaboard, and severe storms in the mid-Atlantic region. Following an unexpected drop in sales, Jay Stein, interim chief executive at Stein Mart reported, “The weather distractions we endured in June in Florida and many of our other markets challenged our business.”
from Gaebler.com
There are no jobs and the credit cards are maxed. Buckle up.
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A lot of their junk is shoddy and does not last. People have learned to make do. People buy like they hire, as little as possible.
I guess americans are not so dumb, why go into debt to help the elite.
Monday is the best day for goodwill. I can buy the cheap junk for change on the dollar, even cosign some at other second hand stores.
But this is what I have been doing all my life.
To all of you preppers do not forget to store some foodstuffs and water in your auto. You never know.
3 years ?
Come to “the lucky country” namely Australia and you’ll see the worst retail downturn in SIXTY years, literally !
Things are tough all over the world, no-one is escaping this ponzi collapse, no-one…
Buy what you need to survive long term BUT buy the best you can afford, preferably not cheap Chinese crap which lasts a few weeks before developing problems.
When the EU goes down, it’s 100% wake-up time for the sheeple out there, make no mistake about that !
Retails sales have nothing to do, but to come in as not great due to the jobs number
http://www.dailyjobcuts.com
Retails sales have nothing to do, but to come in as not great due to the jobs number
Go to: Dailyjobcuts com
I believe the stock market is rigged. Only a few stocks are doing well. Soin they will not be able to afford dividends. I do not believe this money on the sideline bs. These corporations trade and sell co. pensions and 401ks as profits.