Friday, January 7, 2011
This news item is from today, 1/7/11:
Holiday shopping season the best since 2006 (AP) -- "The holiday shopping season was the best since 2006, as a strong November more than offset spending that tapered off in December. The strength of holiday sales suggests a recovery in consumer spending. From Oct. 31-Jan. 1, 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 measurement rose 4.4 percent."
This news item is from Yesterday, 1/6/11:
Holiday shopping in December fell short of expectations (AP) -- "After starting like gangbusters back in November, the holiday shopping season cooled down a bit with lower-than-expected sales in December. Nationally, sales at stores open at least a year rose 3.1 percent in December compared with the same month a year ago, according to a Thomson Reuters survey of major retailers... That figure was below analysts' projections of 3.4 percent"
The so-called experts can't even get their revenue projections consistent...
And now let's look at some specific stores for Dec. sales- expectations v. reality:
Expectations Reality Difference
Gap, Inc. Up 2.6% Down 3.0% -5.6%
Kohl's Up 4.3% Up 3.7% -0.6%
Macy's Up 4.5% Up 3.9% -0.6%
Target Up 4.0% Up 0.9% -4.1%
Luxury stores like Nordstrom and Saks Fifth Avenue beat expectations but overall, most retail stores either barely met or went below sales expectations for December.
Sometimes, you can find the "Comics" section right in the "Business" section
Posted by Susquehanna at Friday, January 07, 2011