Rotten retail outlook

Just back in Virginia after being away a long time, necessitating of course a strafing run across some retail outlets for restocking.

The landscape does not look good.  Linens and Things store near us, going out of business. Barbecues Galore nearby, also “Closing Sale.”  At a Sports Authority, where I bought two balls for Ben the Bouvier, cashiers changing shift, one saying to the other - after looking at a printout of the morning’s sales of $1,770.00 ... “Wow, real slow.”

From my time in retail, I’m also surprised we haven’t yet read prognostications about sales for Christmas.  seems to me that usually by this time of year, we’ve got the National Retail Federation or somebody forecasting sales.  Not that I’ve seen.

I did see this, on Forbes Online from press-release-a-week machine Challenger, Gray & Christmas.  (Do they do anything other than put out news stories that generate publicity for the firm?  They are very shrewd.)

Comments

[Frank Barnako]

Thanks for the link to Retail Forward's estimate of a 1.7% gain yr/yr retail sales.

http://www.retailforward.com/pressroom/pressreleases/091708.asp

I can't even begin to imagine the cost categories which have seen increases greater than that.

Fascinating to see the estimate of 9% yr/yr growth for online shopping. Not great, less than ever ... but certainly a more sensible way for shoppers to get their jobs done this year - let their fingers do the buying.

Frank

[Gary Kromer]

Try this link:
http://www.retailforward.com/pressroom/pressreleases/091708.asp