Same Store Sales Stink (July) [Ticker]

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Same Store Sales Stink (July) in forum [Ticker]

Genesis
Posts: 71432
Incept: 2007-06-26

KD^2

http://market-ticker.org/archives/1302-S....

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"The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me

2009-08-06 11:38:59
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Iceroad40
Posts: 41
Incept: 2008-04-18

Macys same store sales were down over 10% yet the stock is up $1 or 7%. Again nobody seems to care about facts. Its getting old

2009-08-06 11:44:27
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Pcaldallas
Posts: 279
Incept: 2009-03-02

Dallas, TX

Green shoots or green sharts?

2009-08-06 11:50:08
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Abn0rmal
Posts: 2320
Incept: 2009-01-10

DFW

Quote:

Among the worst-performing retailers was Abercrombie and Fitch Co., which posted another month of weak same-store sales with a 28% decline.

A relative of mine works at a manufacturing facility in north-central Kansas. I was on the phone with him the other day and he mentioned that the sales people are putting out 10 times as many bids as last year but only getting 70% as many orders. That 30% decline just keeps showing up.

2009-08-06 11:54:54
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Glock36
Posts: 327
Incept: 2009-06-03
Banned

Buy...Buy...Buy...Train Leaving Station...Trillions On
Sidelines...Buy...Buy...Buy

History will repeat, as the retail investor - those damn few left with any money - jump onboard the Momentum Train right at the top.

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Black Helicopters Are Like ****roaches, You Never Find Just One
Glock36's Law: Murphy Was An Optimist
When You Find Yourself In A Hole, Don't Look Out Until You Identify The Type, As It Could Be A Foxhole
The Greatest Enemy Of Knowledge Is Not Ignorance, But The Illusion Of Knowledge - Dr. Hawking

2009-08-06 12:05:28
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Eternalblue
Posts: 4230
Incept: 2007-08-09

sokali

ANF the original $100 pretorn jeans for pretend rich spoiled bratty teens

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my miniblog;

http://economicpsychosis.blogspot.com/

2009-08-06 12:10:35
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Berkleyreindeer
Posts: 560
Incept: 2008-07-22
Minneapolis , MN

don't forget how many fewer stores some of these outfits are running with. they are concentrating their locations and still getting these numbers.

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It'll get worse. Just wait.

2009-08-06 12:20:49
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Sandmich
Posts: 10
Incept: 2009-02-25

Quote:

and "bad weather"

That one always draws a chuckle from me. I always have to wonder if anyone actually buys that (i.e. horrible weather, over the whole country, at the same time, for a whole month).

2009-08-06 12:38:40
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Scrood
Posts: 1999
Incept: 2008-05-17

Green Shoots!

Who would've thought that KD was a big fan of alliteration?

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CTRL-GALT-DELETE

2009-08-06 12:40:24
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Lowcarb
Posts: 80
Incept: 2009-06-30

The Real Bay Area

If these numbers were to take place under a Republican administration the Media would be all over this with an end-of-the-world presentation.

btw, to those of you working at the Dona Ana county Republican Party HQ in southern NM: I have since learned that persons who moved to southern NM from the Rustbelt States were the ones who removed the McCain/Palin campaign signs during the last election.

These people are "Roosevelt Democrats" whose parents and grandparents voted for Roosevelt and subsequently, family members continue to vote Democrat no matter what. They are also union types (lots of Obama stickers on construction trucks in Picacho Hills) who are new arrivals to southern NM and who don't give a damn about Old West courtesy.Pennsylvania, Ohio, Indiana, Minnesota, Michigan, Illinois. So please don't blame Californians! (ASFAIK, there are less than 35 California families in Las Cruces.)

2009-08-06 12:50:24
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Stoverny
Posts: 250
Incept: 2009-02-25

The cratering of Abercrombie and Fitch sales demonstrates a larger shift in consumer spending, especially among teens where being trendy is everything. During the bubble good times, it was a badge of honor for teens to be seen wearing overpriced clothes. Now, it is no longer considered cool. Gradually, those who cling to the era of conspicuous consumption, are being seen as d-bags by their peers. Hopefully the era of intentionally overpaying for stuff (on credit, of course) is coming to a permanent end.

Aeropostale has been doing very well, because they sell essentially the same crap as A&F, at much lower prices.

2009-08-06 12:50:29
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Abn0rmal
Posts: 2320
Incept: 2009-01-10

DFW

Quote:

Hopefully the era of intentionally overpaying for stuff (on credit, of course) is coming to a permanent end.

Until this generation dies off and their grandchildren make the same mistakes.

2009-08-06 12:52:44
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Mrholty
Posts: 1015
Incept: 2007-07-27

Wisconsin

The weather is a great one. In college I interned for a retailer and while working in treasury we had to put together the S/S reports for regions which rolled up to what they reported.

Weather is what we used when we could not figure out why or we needed a plug. In the winter it was true in that you could see sales drop off due to snow, ice etc and it was lost purchases. However, rain was a different story. In some markets and time of year you would have very good sales if there was rain as the mall was a place to go, in some it was bad as people would not venture out (mostly in strip mall locations). In the summer you would have managers claim that if it was too hot people wouldn't shop, however if the weather was nice some other managers would claim that people wouldn't shop as they would rather be outside.

The only place that I know of that truely can blame weather is the local pool. A few weeks ago they ran a report here that showed customers were down 40% and wondered if it was the economy. That seemed strange to me as the pool would be a good way to spend a day. Last week there was an update to the news report. The pool manager pulled the high temps for the last 2 1/2 summers. If the high was 85 or above they averaged 1,000 people per day. Under 85 was only 400 people. Based on the numbers of days for this summer he estimated that he was 5% ahead based on weather. It was a nice pull by the manager who is probably trying to figure out why rev's were down so much.

2009-08-06 12:56:58
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Bsaxberg
Posts: 112
Incept: 2009-07-04
North Dakota

Some how I don't think thrift store sales are counted in this are they? *L* My family loves shopping there because its not all the same new stuff every other place has (its nice that things are rather cheap, but my family might be a bit different).

2009-08-06 12:58:04
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Eaglewwit
Posts: 1890
Incept: 2007-11-30
SoCal

Don't forget to add all the people living in their foreclosed homes for free. That should add to consumer spending.

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"Not even I imagined we would see trillions of dollars being created and given to the culprits as a means of allegedly "saving" the system. This is not mere Keynesianism; it is Keynesianism on steroids and crystal meth."

2009-08-06 12:59:45
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Asianbull
Posts: 2184
Incept: 2007-09-03

Let's see...end demand sucks, but manufacuters just rebuilt their inventories...gee I wonder what ISM down the road is going to look like,

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The root cause of all the world's problems is inflation. The only sound money in the world is commodities.

2009-08-06 13:00:11
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Big_bear
Posts: 2211
Incept: 2007-08-29

Florida

my wife shops at thrift stores all the time .. she looks for vintage clothing that she can sell for a profit on Etsy or ebay. I tag along sometimes.

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Bull Market � a random market movement which causes the average investor to mistake himself for a financial genius.
Bear Market � a six to eighteen month period during which the kids get no allowance, the wife gets no jewelry and the husband gets no sex.

2009-08-06 13:00:35
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Seedyrum
Posts: 267
Incept: 2009-04-09

don't knock vintage clothes: better fabric, better stitching, better dyeing or coloring, and better styling.

2009-08-06 13:44:00
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Markytom
Posts: 217
Incept: 2009-02-19

Many technology companies are keeping sales going by giving maintenance (1, 2, or even more years worth) away for free. They get the initial sale but are sacrificing future cash flow to get them - and the sales are at a discount to boot. My company has taken advantage of some of these deals.

As for the end of green shoots? Pshaw! GS thinks otherwise:

Stocks are in a "new bull market" and its main benchmark, the S&P 500, should rise from the current 1000 to the 1050-to 1100 range by the end of the year, widely followed market guru Abby Joseph Cohen told CNBC.

........

The third quarter is looking stable for companies, said Cohen as most firms have held profit margins up well even during the difficult portion of the recession. She said the cost containment and improvement in margin would be beneficial for companies in the second half of the year.

http://www.cnbc.com/id/32315226

The green shoot meme will never die because politicians and Wall Street will always tell you that things are going to get better soon.

2009-08-06 13:45:55
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Reza30
Posts: 233
Incept: 2009-02-15

What did you guys expect (the green shoots crowd)?

Quote:

Wages and Salaries fall the most on record

Wages and salaries, which drive recoveries in spending, fell 4.7 percent in the 12 months through June, the biggest drop since records began in 1960, according to Commerce Department figures released yesterday. The Obama administration�s tax cuts, extended jobless benefits and a one-time Social Security bonus have helped mask the damage done by the worst employment slump since the Great Depression.

http://www.bloomberg.com/apps/news?pid=2....

Last modified: 2009-08-06 14:00:41 by reza30

2009-08-06 13:56:40
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Lilvern1
Posts: 3180
Incept: 2007-09-28

Bender! You're blind, stinking, sober!

Quote:

"bad weather" (the usual claim when store sales suck)

I second the chuckle on that one.

They always use that excuse. Cripes, if you were a foreigner and the only thing you knew about the U.S. was learned from reading news reports about U.S. retail sales, you'd think the weather across the entire U.S., was always horrible.

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"What part of 'we bailed you out' do you not get?" - Elizabeth Warren, Jan. 23, 2010

2009-08-06 14:01:46
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Bsaxberg
Posts: 112
Incept: 2009-07-04
North Dakota

We have a saying here in ND.....if you don't like the weather wait a few minutes, it will change.

2009-08-06 14:07:40
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Vyang
Posts: 594
Incept: 2008-03-07

Analyst keep saying retailers will rebuild their inventories.

I posted the transcript of Simon Properties Group (huge mall and outlet REIT) a few days ago and they said that their retailers are tightening inventories!

2009-08-06 14:12:44
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Wineaux
Posts: 131
Incept: 2009-03-23

pure Liquid pleasure

Seems to me that the market makers (manipulators) believe that we have an inventory based recession. Sooner or later they'll come around and face reality.

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What wine goes with unemployment?

2009-08-06 14:14:09
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Glock36
Posts: 327
Incept: 2009-06-03
Banned

Bad Weather?

So, I guess that retail sales always suck in Great Britain?

2009-08-06 14:17:41
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