Holiday Shopping Disappointing - Analyst Blog
Zacks Market Commentaries (December 26th, 2008) Writes:
Preliminary retail sales reports for the holidays are in. According to SpendingPulse, a unit of MasterCard, total retail sales (excluding autos) declined 8% year-over-year for the period Dec 1 through 24. More troubling was the report issued by ShopperTrak. It reported that customer visits to retailers declined 24% (the largest drop ever) last weekend versus last year. Keep in mind that the weekend before Christmas is usually the busiest shopping time of the year, as shoppers look for last-minute gifts. ShopperTrak also estimated that retails sales for Dec 19-21 fell 5.3%. Our take is that sales trends have deteriorated from November into December. Falling gasoline prices are not enticing consumers to consume more. In light of a weak economy, higher unemployment, and tighter credit markets, consumers are choosing to spend less and save more. Those who are spending money in retail stores are
...Anntaylor, Best Buy, Blog, Christmas, Preliminary retail sales reports;, Retail Sales, Retail Stores, saks, Stocks to Watch, Zacks Market Commentaries


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