Retailers report surprisingly weak December

[Pale Blue Dot]

Source: Yahoo Finance

NEW YORK (AP) -- Retailers are reporting surprisingly weak December revenue after a strong November pulled forward holiday spending and a blizzard in the Northeast took a bite out of sales after Christmas.

The results raise some worries that the holiday season might be less stellar than some had hoped, but some analysts still expect spending in November and December to show the largest annual increase since 2006.

As merchants report their figures Thursday, many retailers including Target Corp., Costco Wholesale Corp. and Macy's Inc. reported gains below Wall Street expectations. Bon-Ton Stores Inc.'s sales were virtually flat and company officials blamed the severe snowstorms.

The figures are based on revenue at stores opened at least a year and are considered a key indicator of a retailer's health.

Read more: http://finance.yahoo.com/news/Retailers-report-surprisingly-apf-712155941.html?x=0&sec=topStories&pos=1&asset=&ccode=

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Another "surprise".

[xchrom]

1. never seen so many 'surprised' experts and analysts. nt

[luvspeas]

2. that and there was nothing we needed this year!...

I really think the era of just buying garbage for the sake of buying something is slowly ending (at least I hope it is).

[crikkett]

3. surprising?

probably because they, themselves, weren't hurting.

[Arctic Dave]

4. Exactly. More ivory tower mentality. nt

[Donnachaidh]

5. I'm not surprised -- the hype before and after was too forced

And the stores in my area were empty, or almost empty, the week before Christmas.

You can *project* all the wondrous numbers you want before the fact - and in fact, this was being done. But people are suffering, and while it may not be as bad as last year, people are adjusting their purchasing habits. Because many people keep waiting for the *other* shoe to drop in their lives, so to speak. It's fast becoming a way of life to *not* believe that everything will be okay - that jobs are *safe* - that mortgage problems can be *solved*.

And quite frankly, I don't know too many people who believe what the media and this administration is telling them in regards to *recovery*. They see elites recover quickly - but the average person has seen little help or even hope for their conditions to improve.

The people who voted for hope and change got neither for their efforts. And they are adjusting their lives to reflect that. :shrug:

[KurtNYC]

6. BS: "surprisingly"

A Kohl's store is opening here and they had 9,000 applicants for their crappy $8/hr jobs. Would they be surprised that those people don't have a boatload to spend on Christmas junk?

[Safetykitten]

7. Quick! Need happy news rapid response team. Unemployed people spend baby!

[crim son]

8. At least it was the retailers who were surprised and not the economists.

It's a joke, the number of times economists have been surprised and perplexed by the obvious.

[ProSense]

9. Did they change the article: December increase seals strong holiday for retail

NEW YORK (AP) -- Retailers sealed their strongest holiday sales increase since 2006, as a robust November more than offset spending that tapered off in December.

For investors, whose expectations were riding high, the December figures were disappointing. But retail revenue still rose significantly.

Combining November and December, holiday revenue at stores open at least a year rose 3.8 percent over last year, according to an index compiled by the International Council of Shopping Centers. That's the biggest increase since 2006, when the same figure rose 4.4 percent.

The index tailed off to a 3.1 percent increase in December after a 5.4 percent rise in November.

<...>

[hlthe2b]

11. So, which is right?

[DCBob]

13. They are both right.. you can spin those numbers both positive or negative..

however, it sounds more positive than negative to me... all things considered.

[Pale Blue Dot]

12. Yep, they changed it. nt

[The Backlash Cometh]

10. We purchased most everything on Black Friday.

[Ghost Dog]

14. MiniTruth (AP) has now rewritten this article. Now reads:

December increase seals strong holiday for retail

NEW YORK (AP) -- Retailers sealed their strongest holiday sales increase since 2006, as a robust November more than offset spending that tapered off in December.

The results reported Thursday suggest steadily improving consumer spending. For investors, whose expectations were riding high, the December figures were disappointing.

/... http://finance.yahoo.com/news/Retailers-report-surprisingly-apf-712155941.html?x=0&sec=topStories&pos=1&asset=&ccode= (same link).

Ah, Ok. Already seen above. Sharps eyes, DU.

[Dulcinea]

15. Does that include online shopping?

I prefer to Christmas shop from the comfort of my computer as much as possible. And then I take one day to get stocking stuffers from the stores, usually on a Tuesday morning or other obscure time when people are at work. I can't stand the crowds.

[monmouth]

16. I'm with you, able to take your time making decisions, etc. I'm never

disappointed either.. I send my NJ son things from shopping online and almost always shipping is free or very low rate.

[arikara]

17. I buy nearly everything from the local craft fair

I prefer my few Xmas dollar spent to go directly to local people. For anything else I go during off hours so I don't have to deal with crowds, so I can't speak as to how busy things were around here. But from what others I know have said, they didn't do much more than that.

[Carolina]

18. I bought only food this past Christmas

In the stores, all I saw was junk:

Plastic junk I don't need and won't buy for others
Overpriced, flimsy clothes
And, of course, nothing made in the US.

I realize people need jobs but there has to be something better than rapacious consumerism and retail.

[fascisthunter]

19. "surprisingly".... DUH

fucking morons

[glinda]

20. That is because the rich quit buying for Christmas.

[lunatica]

21. It doesn't surprise me at all. The hype was a media sham

And I said so a few times. That or shoppers were maxing out their credit cards before declaring bankruptcy.