Retailers may have worst holiday in five years, NRF says

[Roland99]

Source: MarketWatch

NEW YORK (MarketWatch) -- Amid housing concerns and credit worries, U.S. retailers could be headed for their worst holiday season in five years, according to the National Retail Federation.

Holiday sales are projected to rise 4% to $474.5 billion, which would be the slowest gain since 2002 and would fall below a 10-year average rate of 4.8%, said NRF, the world's largest retail trade association.

"Retailers are going to take a very cautious approach to the holiday season," NRF spokesman Scott Krugman told MarketWatch. "Consumers can expect retailers to be very aggressive with their pricing strategy. Retailers are going to pull out all stops to get consumers in early."

Luxury retailers will likely be the winner this holiday, NRF said. Budget concerns among lower- to middle-income shoppers may signal trouble for discounters and some department stores, as consumers opt to shop at less expensive locations, according to the NRF. Consulting firm Deloitte & Touche USA on Thursday forecast 4.5% to 5% gain in sales for the November to January period, also less than last year's 5.1% increase and a "more modest" holiday selling season compared to the past decade.

Read more: http://www.marketwatch.com/news/story/retailers-may-have-worst-holiday/story.aspx?guid=%7BDCC364CC%2D8E38%2D4E7F%2D9638%2DF83C486B7363%7D

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But it's nice to see that the "Oil-rich Gulf goes on buying spree".

:eyes:

[w8liftinglady]

1. in my lower middle-class neck of the woods,there are no more stores that do "lay-away"

which used to be how we always bought our Christmas presents.Most people have maxed out their charge cards,and will have to go with cash on hand,which won't be much.

[gateley]

2. Oh don't be silly. Here's proof we're all doing fine:

Bush cites ‘unsettling times’ in housing market
At news conference, Bush says economic fundamentals remain strong

snip

"I say that the fundamentals of our nation's economy are strong," Bush told a White House news conference.

Inflation is down, markets are steady, unemployment is relatively low, exports are up and corporate profits seem to be healthy, Bush told reporters.

snip

For more reassurance, here's the link:

http://www.msnbc.msn.com/id/17152244/

[Roland99]

3. He just forgot to mention that "fundamentals" = Fed pumps.

And those pumps are working overtime.

[Deja Q]

21. Because the media reports increased profits in developing nations

you know, the ones featuring all that "slave labor".

Try "being rewarded big-time for crap labor" and wince.

[tomreedtoon]

4. My Christmas shopping is all done.

I give presents to people in a local theatrical troupe, plus their wait staff and techs. 50 presents. This year they get ecological hemp grocery bags.

Got no Significant Other (if you saw me you'd know why) but I do have a couple friends. Half have already gotten their presents. The other half are Wiccans whose big holiday is Halloween, and they don't exchange presents for that. Many got presents bought from a hospital "thrift store" whose contributions help support the hospital's charity program.

My family agreed years ago not to exchange presents, and for a while I did give little trinkets - maybe they'll get the grocery bags too.

Me? None of my friends have jobs or two coins to rub together, so I know they won't get me anything. Probably not even gratitude. That's okay. I'll buy myself a bottle of Real Sangria as my holiday present.

It took me decades to figure this out, but buying Christmas stuff at Christmas is one of the most stupid things anyone can do. So Bush's economy can go whistle for my money.

[Rainbowreflect]

5. I am making all my Christmas gifts this year.

And since I already have everything I need, I won't be spending any money shopping at Christmas time.

[Acadia Blue]

11. Me too. I only buy what is essential. No feeding the wild rePIGs.

[MissB]

6. Now there is a big "duh" for you.

Gah.

[hunter]

7. Hmmm. Healthcare, Christmas shopping, healthcare, Christmas shopping...

Nope, no Christmas shopping, I'll spend it on health care.

[anitar1]

8. I sincerely hope so. n/t

[Lone_Star_Dem]

9. I expect they will

There's no extra money to spend for most of we lowly consumers. That's only getting worse, not better.

[Eagle_Eye]

16. Gasoline prices are through the roof

My car insurance has gone up.
The price of anything brought in by truck, like food for instance, is up.
Cold weather is on the way, home heating prices will be up.
CHRISTMAS? Who has extra money for extravagant Christmas presents?

[DavidDvorkin]

10. Maybe the ones along the Canadian border will do well

[tekisui]

12. woopty-doopty.

[THUNDER HANDS]

13. I know I'm cutting back this year

not because I can't afford it (I'm making more money now than I ever have). But I'm getting married soon (just got the ring) and I need to plan for the future.

So instead of getting my g/f 22 presents like I did last year (yeah, I know), I'll get her one really nice one.

I'll probably spend $500 total on gifts this year, whereas I spent probably three times that last christmas.

[Deja Q]

22. Given the sales, I'll spend...

I'm also going to be saving and spending more time developing my future career. To use tools rather than supporting them.

There are as many positive outcomes as negative ones. Forgive me for being an optimist; despite some offshoring, America isn't dead yet - and if some big software companies bus some of their people like how I saw on the ABC nightly news a couple days ago, America is NOT being abandoned by them.

[ima_sinnic]

14. whatever. except for children, Xmas is a giant scam, anyway

Our family stopped exchanging gifts probably 20 yrs ago, except of course for any kiddies--and even they usually get presents only from parents and grandparents, not cousins, aunts, uncles, etc. It's fun to have a lot of time and money on my hands at Xmas time while everyone else is getting bled at the mall.

[w8liftinglady]

18. same with us-we do "Practical" gifts

tune-ups,new tires,teeth fixed...stuff like that.My 11 year-old is the only one we "Do" Christmas for(It's kind of silly when you are a Deist,anyway)

[bpeale]

15. i have no plans

to buy ANYTHING during the upcoming holiday season. absolutely nothing.

[KillCapitalism]

23. I'm the same way.

I refuse to participate in the orgy of consumerism around that time of year. The wife and I just have a dinner with the family where everyone pitches in and brings a food item, that's good enough for us.

[Doremus]

17. Anyone see the new Wal-Mart commercial?

Father and son driving past a used car lot. Son spies a sporty red number. Father turns around, pulls into the lot and tells son to get out and take a look. Surprised son looks at father with adoring, appreciative eyes.

Voice over: Shopping at Wal-Mart can save you $2500 a year. What are YOU going to spend it on?

:puke: :puke: :puke:

[Roland99]

19. Oh brother!!

[Deja Q]

20. Uh, 'Deloitte & Touche ' - do I see a couple of typos, often heard on FOX sitcoms?

:hide: