It’s an Obama Christmas. Sales this holiday season are down 4.3% this year and foot traffic is down 4.4% over last year.

Baracka Claus knows how to hand out goodies to his supporters but the former community organizer is clueless on economic policy.

CNBC reported:

Nowhere was the traffic void this weekend more evident than the Saks flagship store in New York City, with sales down 20 percent.

Just Wednesday I warned on CNBC’s “Street Signs,” business at Saks seemed particularly slow going into holiday. The level of markdown inventory the week before Super Saturday told the story, as did the ability to hear a pin drop during a 60 percent off sale. Sales associates are simply at a loss to explain why the customer has not shown up. Some are telling me this is the worst they have seen during their career with the company.

Everyone is looking for an explanation. First, it was super storm Sandy, then it was the “fiscal cliff,” and now the nation mourns for Newtown, Conn. Maybe it is all just too much.

By the way, I am not picking on Saks — the luxury retailer has plenty of company.

Shoppers seem to be: a) procrastinating more this year; or b) are just not in the mood. I am going with “b.” We Might try to convince ourselves that more consumers are doing all of their shopping online? Sure, free shipping and the much-improved mobile shopping experience is driving more business out of brick-and-mortar stores, but lets be realistic here. So far, the statistics point to a mid-teen increase in online shopping and the cut-off date for most orders was Dec. 22. This is not going to make up the traffic declines we are observing in stores.

There is a lot riding on the final weekend before Christmas and maybe more than usual this year. Saturday was supposed to be the biggest shopping day ever. At least, that is what a lot of statistic trackers and retailers were hoping for, because the weeks leading up to the final stretch have been disappointing. Just last week, ShopperTrak announced the somewhat obvious observation that traffic and sales declined year-over-year for the week ended Dec 15. Traffic was down 4.4 percent and sales declined 4.3 percent, which led the company to cut its forecast for U.S. holiday sales to 2.5 percent from the previous 3.3 percent estimate.

 

 

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  1. Okay, sales are down. Lots of other negative indicators portend. Including the wild oats that this guy is about to sow now that he doesn’t have to consider himself with re-election.

    HE WAS JUST RE-ELECTED. Repeat that to yourself.

    Nothing is looking up, yet this guy was re-elected.

  2. Well Jim, the President (no matter what party) should not be running the economy at all. You have accepted a premise that I do not accept in that if only the right Republican were in control of the federal leviathan gov’t, then things would be fine. NO! That is not correct.

  3. I’ll bet gun dealer sales aren’t suffering.

  4. Well, for the looters every day is Christmas.

  5. #4, General M.,

    A responsible and wise President (haven’t seen one since Reagan) would deconstruct the bureaucracy, lower taxes, cut spending, deregulate, cut the Cabinet and its empire by a third and generally just get government out of the way.

    None of these actions are “running” the economy, but would have an enormous positive impact on it.

  6. Spent my Christmas money on guns and bullets.

    Besides he wun and he’s in hawaii.

    Suck it peasants.

    God Help Us.

  7. A responsible and wise President (haven’t seen one since Reagan) would deconstruct the bureaucracy, lower taxes, cut spending, deregulate, cut the Cabinet and its empire by a third and generally just get government out of the way.

    None of these actions are “running” the economy, but would have an enormous positive impact on it.
    ——————————————————————————————————

    But such a person does not exist and it would be prudent to stop looking for this mythical savior because as we saw on Election Day, we are outnumbered and there’s no “quick-fix” for this. Our only prospect is unrelenting toil on the ground and not a savior that will magically cleanse Washington, DC

    It matters not a whit which party or personality controls the national political leviathan gov’t. Our best path forward is to redirect our efforts into putting our homes, extended families, local neighborhood, churches, and local communities in order and to turn this thing around.

    Instead of constantly complaining about how Obama sucks and all of that, let’s get back to self-government. And self-gov’t means GETTING INVOLVED on the local level. Start girding your loins. Find out who your local state representative is. Start attending the local meetings. Get on this guy’s case. Start making waves. Demand that he protect your locals from this beast. Demand that they pass state laws that stop these encroachments. Demand that they also consider alternatives.

    So everyone can get involved on the local level and work or you can continue to gobble up the partisan trash that does none of us any good and gets us nowhere. Just a bunch of posts about how bad Obama is. Well, we know Obama is horrible. What are we going to do

  8. Gee, no jobs, food stamps, Salvation Army passing out toys to poor children, higher taxes for those with jobs, our heathcare going down a bottomless rat hole, our soldiers being killed by the people we’re defending, the Obama’s 4 million dollar Christmas vacation, take away our rights, Obamaphones and kill the baby if the ‘free’ contraceptives don’t work.
    yay, what’s not to celebrate?
    /pathetic sarc/

  9. The coastal “elites” are simply baffled, baffled I tell you as to why people don’t feel comfortable spending their rapidly depleting assets to prop up Our Lord and Savior Barack’s economy and reputation. After all, things seem just fine inside the Beltway and Hollywood “communities”. So, can’t we all just sacrifice our economic stability to make Barack look good?

  10. #4 On top of what #8 said a responsible president with an ounce of common sense or desire to serve his country and make it better would have

    Stopped the wasteful spending, and cut actual spending not even mentioned a reduction in the rate of increase in spending.

    Would not have bribed and lied about Obamacare and its actual 3-4 times the cost he lied to us about. He wouldnt lie to the people or the supreme court to pass it or keep it ” legal”

    Would push his idiot liberal senate to pass a real budget instead of passing a criminal stimulous which increased the budget by about 30% then simply pass continous resolutions spending at those same inflated rates so they dont have to be responsible or have to fight for the bloated spending in public. This budget is their constitutional duty and they are refusing to do it. Obama is a criminal

    Would stop blaming the wealthy for not paying their fair share when they pay more than theirs. All this while he gave Union thugs $50 Billion GM/ Union bailout. Closing 10 plants laying off 10,000, screwing shareholders and non union pensions and killing 100,000 gm dealership jobs. Then allowing GM ( illegally) to carry forward $45 billion in tax losses making sure they DONT PAY THEIR FARE SHARE until they have made $45 billion in profits.

    A moral president wouldnt be pushing citizens to get free phones, welfare, foodstamps, and ever increasing government programs. He would put policies in place that foster growth and success.. Not punish it.

  11. I’ve been not in a shopping mood since the election. I just buy food and gas, if I need something I buy it used. My only major purchase was a large solar panel and deep cycle battery, just in case we lose power. Got to plan for the worst. Everyone need to plan for the worst, that big shiny flatscreen is a luxury in this economy. At least the gun stores are doing good, some people are thinking long term worst case scenarios.

  12. What? Can’t EBT cards be used to buy Christmas presents? Oh, I know. Why buy stuff at the mall when the government will give it to you for “free”.

  13. But firearm sales are up! Many local and online dealers are SOLD OUT. So at least these fine Americans who work in the firearms industry are having a Merry Christmas! Zero is greatest firearms salesman EVAH (especially for first-time buyers! I love capitalism).

    Oh, this whole economy thing is the intended consequence of Zero and his enablers in the media. Because you know they are our “betters”? Eff them.

  14. Yup, Gun and ammo sales are the only thing booming in this economy. Obama is the world’s best gun salesman.

  15. Funny thing is all I’ve heard in the news is how busy the malls are, but when I get there they are only half full.

  16. Why on earth would anyone in their right mind buy anything now, or in the foreseeable future for that matter, when taxes are going up no matter what the outcome of the fiscal cliff may be? Obamacare will bleed the ordinary citizen more dry than ever come Jan 1 all the way to December 31, 2014 when all the “benefits” (in other words taxes of every size and descrtiption) will take effect.

    Who really cares about the fiscal cliff? It’s been affecting the everyday citizen for the past 4 years at the beheast of the leviathan called government at every level.

    Really, who in their right mind wonders why retail sales over Ciristmas are down? Food, gas, and every other every day need has been on the increase for a long time and there is no relief in sight! Can’t imagine why people aren’t spending????

  17. re. gun control: I hope Byron York is right OBAMA SIDELINES GUN CONTROL



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