Retailers report sluggish October sales

[Lone_Star_Dem]

Source: AP

NEW YORK - The outlook for the holiday shopping season grew bleaker Thursday after retailers announced disappointing October sales results due to consumers' ongoing worries about housing and higher energy prices.

The downbeat news came from all sectors including mall-based apparel stores like Limited Brands Inc. and department stores like Macy's Inc. Even upscale Nordstrom Inc. posted a rare sales decline while Wal-Mart Stores Inc., the world's largest retailer, posted sales below expectations despite its aggressive discounting heading into the holidays.

"Overall, the sales trend continues to slow," said Ken Perkins, president of RetailMetrics LLC, a research company in Swampscott, Mass. "I think the consumer is certainly feeling the (economic) pressure heading into the holidays."

Milder than normal weather continued to hurt store sales, wiping out consumers' appetite for winter wear.

Read more: http://news.yahoo.com/s/ap/20071108/ap_on_bi_ge/retail_sales

[qanda]

1. I have a $1300 gas/electric bill

Part of that ($850) has to be paid by next Friday or they will cut it off. They've raised our rates 72% in the last year. Our landlord just raised our rent $275 two months ago. My husband and I can work more to pay for these increases, but I cannot imagine what people on a fixed income are supposed to do. And they want us to go out and buy stuff we don't need for them to get richer while we struggle to barely make it-- I DON'T THINK SO!!! I think I'll use any extra money I have this year to help out someone less fortunate than me.

[barb162]

10. May I ask for what period of time? That's not for one month, is it?

[qanda]

12. It's two months

I don't know how I got an $800 bill in a summer month, but I did and I'm sick about it.

[barb162]

13. That just doesn't seem possible

Maybe ask your company to come out and check to see if anyone is tapped into your line or there is something wrong with your gauge. It does happen. Were you running these kinds of bills, slightly lower, last summer, discounting the 72% increase?

[qanda]

15. I'm on budget billing

And we had this kind of bill last year when they increased our rates the first time. I think it has something to do with them projecting how much our usage will be and trying to average it out over the months. One winter, before the increases, we had a gas bill for over $1500 (that's when I decided to sign up for budget billing). I don't know what's going on. I have so many other things to deal with that I'm just numb to the costs anymore. I probably should call them and ask what's going on.

[BlueManDude]

2. Maybe Christmas/Holiday season can be about family and community this year?

Instead of buying stuff. Maybe there's and upside to a down economy.

[sshan2525]

3. No presents from me this year

All my extra cash is going into my gas tank.
And so it goes..........

[Darth Lenore]

4. That's unAmerican!

<sarcastabitch> Everyone knows the more you love your family, the more you'll BUY for them! This slump in holiday sales is just further proof of the downfall of The Family in this country. </sb>

[NMDemDist2]

5. LOL and welcome to DU!

you may find our handy DU Glossary both amusing and informative

http://www.democraticunderground.com/discuss/duboard.php?az=view_oet&address=358x190

[Darth Lenore]

6. Thanks! nt

[liberal N proud]

7. It is only going to get worse as Exxon-Mobil sucks our wallets dry

[cstanleytech]

8. Can't say I am surprised.

Its so bad here I am not even going to bother setting up a tree for christmas nor do any lights like I used to as I need every penny for bills.

[gorbal]

9. I am so scared

I had to pay over 2,000 dollars for heating oil two years ago and if they raise our rent we're done for. Everyone is getting books for christmas.

[arikara]

16. I've bought a couple of new books lately

...ordered them online. I see they are now being printed in China. They probably ship the raw logs to China from here so they can pulp them, make paper, add a few extra toxins to the mix, print the books, then ship them back. Its insane. How can it be any cheaper to do that?

Its rare that I buy new and I think from now on I'll buy books locally after I check where they're made. That said, books are the best gift anyhow.

[Xenotime]

11. Everything you buy is tainted.

[ohio2007]

14. wait til the day after thanksgiving. then the madness starts

[Lone_Star_Dem]

17. Not last year.

Last year sales were way down until the week before Christmas when they finally reached a normal level for that time period. With current inflation being what it is, I expect this year will be even worse.