Posts filed under “Retail”
Nov Retail Sales were below expectations at the headline level, and also taking out auto’s and gasoline. All three rose .2% m/o/m, less than the estimates of +.4-.6%. Sales rose for auto’s, furniture, electronics, clothing, sporting goods, department stores and online retailers but fell at restaurant/bars, building materials, food/beverages and health/personal care. Bottom line, while weaker than expected, the y/o/y gain is still 6.2% ex gasoline station sales and to fully capture the holiday’s, we of course need to see Dec sales too. Either way, while the US economy has hung in pretty well of late, the real test comes in early 2012 as the European recession fully takes hold.
> My Sunday Washington Post Business Section column is out. This morning, we look at retail sales, inflation, and forecasts: Did Black Friday save the season? Beware the retail hype. The key takeaway is that sales improved over last year consistent with the first 10 months of 20121 — but the insane forecasts from the…Read More
My Monday morning missive lamenting the pitiful state of our modern media seems to have gotten some traction. I also chatted with Aaron Task and Jeff Macke of Yahoo Finance about it. On the way in yesterday, I noticed these two articles in the NYTimes: • Rough Times Take Bloom Off a New Year’s Rite,…Read More
It’s probably no surprise to Financial Armageddon readers that many media outlets are trumpeting this weekend’s jump in retail sales, with some even suggesting (praying?) that it means consumers are finally emerging from their recessionary funk: “Retail Sales Break Records, Cyber Monday Up Next” (USA Today) Buyers are expected to log in for online sales on Cyber…Read More
If its the Monday after Black Friday, then its national hype the fabricated data day! Every year around this time, we get a series of loose reports coincident with Black Friday and the holiday weekend. Each year, they are wildly optimistic. And like clockwork, the media idiotically repeats these trade organizations spin like its gospel….Read More