U.S. Retail Chains Report Another Sales Drop in March

[acmavm]

U.S. Retail Chains Report Another Sales Drop in March
STEPHANIE ROSENBLOOM
Published: April 9, 2009

Flowered dresses and linen jackets may be hitting store shelves, but it is not yet springtime for American retailers.

Major chains on Thursday reported March sales results that were worse than their February figures, though the rate of economic deceleration that plagued stores during the holidays has slowed a bit. Sales for the overall retailing industry fell 1.8 percent, according to Thompson Reuters.

The good news for March, retail analysts said, is that not every retailer was in free fall — which is what appeared to be the case during the holiday shopping season. Still, the word of the day is “caution.”

The prospect of a recovery, analysts at Standard & Poor’s Ratings Services said, was being hindered by the rise in the average duration of unemployment and in the number of people working part time for economic reasons.


http://www.nytimes.com/2009/04/10/business/economy/10shop.html?partner=rss&emc=rss

[OhioChick]

1. No one is going to be purchasing anything

If they don't have a job, or are worried about losing their job.

[GoesTo11]

2. or if they have a job but have to save for retirement all over again

[rfranklin]

3. No problem! Stock market is up! Bailout funds for everyone!

At what point do we stop handing out free money?

[kestrel91316]

4. When I thought things couldn't possibly get any worse, they got worse.

March was my worst month in nearly 18 years.

[CoffeeCat]

5. People are sitting on some cash right now...

...because they're not spending.

I think, every once in a while, people let loose of their purse strings. That could be the reason
for some of the slight upticks in Jan/Feb. Also, many got their Fed/State tax refund checks in
those months. That could cause a little bubble.

Generally, people are not spending. Like a previous poster said, when you've lost your job or you're
worried about losing your job---the spending just doesn't happen.

Most people are preparing for worse conditions--even though the media is churning out 'silver lining' stories
by the hundreds.

[blue97keet]

6. You don't feel like buying anything extra anyhow because

there ain't hardly anything not made in China.

[PassingFair]

7. I'm getting 0% interest rate teasers from credit card companies again.

Not to mention offers to refinance for interest
only payments!

Just like the good ol' days that led us down
this path to the crapper.

I live in Michigan, I'm not going into debt
to stimulate ANYTHING.

[TheWatcher]

8. Stock Market Is Up 200 Points because of Wells Fargo's Earnings "Expectations"

Quit your whining and reality posturing.

"Hopes", "Assurances", and "Expectations", and Zombie Banks are all that's needed to win the day.

Our "Football Team" Won, so you need to get in line and Bleat And Cheer, or I'll need to see Your Papers.

Click Your Heels Together Three Times and Scream:

"Thank God It Passed!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!111111111111111111111111" Three Times and Call Me In The Morning.

:sarcasm:

[girl gone mad]

9. Ha!

If I could borrow money at .21% interest from the government, I'm pretty certain I could turn a nice profit, too, even in this environment. Too bad only the screw ups get those deals.

[TheWatcher]

10. Indeed.

The sad part is how many people are buying into it ggm.

They don't care HOW it's being done, they just want to feel good that everything is being "fixed."

Except it's NOT being fixed.

Instead of actually SOLVING any problems, we are being subjected to one of the most blatant and shameful Propaganda Blitzes, at least on the economic front, of all time.

Today was more of a short squeeze than it was anything else.

An artificially led goosing of the Market, which is the ONLY thing TPTB and "The Football Team" have left since we saw what happened the first two days of the week when Reality was allowed to shine through and dominate the day.

Their carefully crafted Propaganda Bubble was about to burst, and they needed to do something to get everyone to shut up and go hunt Easter Eggs or glaze over all weekend with Beer, Chips, and NCIS re-reuns, and low and behold, Wells Fargo "surprises" with Earnings "Expectations" and "Forecasts".

Not real numbers, not actual data, just bullshit. The same shit that Citi pulled five weeks ago.

next it will be BAC's turn, then the rest of the Banks, as they continue the facade.

They HAVE to, ggm.

They don't have any CHOICE, now that they have sold the "Recovery" as "Reality" and not the steaming pile of dog shit that they SWEAR is really Godiva Chocolate.

I will leave you with something I read on one of the SANE Financial Message boards today:

"To anyone praying they don't lose their job this year. To anyone struggling to make the mortgage payment this month. To anyone visiting that food bank so that they can keep their facade going just a little bit longer. To anyone who believes that the government and industry leaders will now do the right thing, and stop lying and be responsible today's Wells Fargo scam job just might give you hope.

After all it's all about hope. Just a little push could ignite a brand new spending spree. Unfortunately the only thing that will ignite that spree is your credit card and more debt from your local banking merchant. Good Luck,and see you back here in a couple of years."

As for you, ggm, PLEASE keep shining the light. Don't be silent. SCREAM from the rooftops if you have to.

WE. ARE. BEING. LIED. TO.

This is not real. It is NOT Sustainable.

The REAL Economy is not Wall Street, it is Main Street.

And it will become a very Mean Street when all the Fairy Dust Wears off.