3% of shiat is still shiat

The nation's retailers got a much-needed sales boost during Black Friday's traditional shopathon as consumers, lured by deep discounts, spent nearly 3 percent more than they did last year.


3% isn't anything to celebrate. Especially since stores had to offer some pretty hefty deals to get shoppers in the doors.

I don't care how much folks spend - it ain't sales that matters, it is earnings. And everyone has made such steep discounts already, they ain't earning shiat.

Cheesy Rat: I don't care how much folks spend - it ain't sales that matters, it is earnings. And everyone has made such steep discounts already, they ain't earning shiat.

What concerns me is that this is desperation buying. People ignoring reality and partying as much as they can until they can't party no more.

we're no where near to being out from under our fiscal issues, but so long as people have their huge televisions and iPods nobody seems to care much. Sure, bridges have holes in 'em and we're losing the war on drugs but hey thats some spiffy footage of the war in...well, whatever the hell that dusty country over there is called. And oh hey, did you hear about Obama? He's gonna save us all! yeah! tax those 'rich people' and stuff! hells yeah! that'll save us!

*sigh*

I'm far to sober for this conversation.

If I remember right, the increase in people shopping on Black Friday was supposed to be up much more than 3%, which means a net loss.

Weaver95: I'm far to sober for this conversation.

Ya know, there is a way to fix that Weaver. =)

I figured it went well because of the three people who were killed/died that have hit the news- but only three percent?

/remember those who have fallen
//11/28/08 never forget

Cheesy Rat: Weaver95: I'm far to sober for this conversation.

Ya know, there is a way to fix that Weaver. =)

Not for another 7 hours. i'm on shift 'till midnight.

Cheesy Rat: I don't care how much folks spend - it ain't sales that matters, it is earnings. And everyone has made such steep discounts already, they ain't earning shiat.

Pretty much. It's going to be an ugly holiday season.

Weaver95: Cheesy Rat: Weaver95: I'm far to sober for this conversation.

Ya know, there is a way to fix that Weaver. =)

Not for another 7 hours. i'm on shift 'till midnight.

and this is a problem because...?

This COULD be bad news if the explanation for the sales increase is as follows: a-if the Black Friday sales were advertised as being much deeper price cuts than last year, then b-consumers may believe that Black Friday is the only day they can afford to go Christmas shopping.

I don't watch a lot of local news, but my net news sources were pushing point (a) pretty hard. We might see the rest of the sales season contract by quite a bit for the rest of the season.

Go to Hollywood ... get trampled.

... and Wal-Mart employees with heart disease.

Past performance is no indicator of future success.

Subby: Black Friday sales go up 3% over last year. This is bad good news ... for doomsayers the credit card companies.

FTFS

3% is less than the rate of inflation for the past year. (4-5%)

The article suggests there isn't going to be a huge profit margin on these sales either.

Weaver95: Cheesy Rat: I don't care how much folks spend - it ain't sales that matters, it is earnings. And everyone has made such steep discounts already, they ain't earning shiat.

What concerns me is that this is desperation buying. People ignoring reality and partying as much as they can until they can't party no more.

we're no where near to being out from under our fiscal issues, but so long as people have their huge televisions and iPods nobody seems to care much. Sure, bridges have holes in 'em and we're losing the war on drugs but hey thats some spiffy footage of the war in...well, whatever the hell that dusty country over there is called. And oh hey, did you hear about Obama? He's gonna save us all! yeah! tax those 'rich people' and stuff! hells yeah! that'll save us!

*sigh*

I'm far to sober for this conversation.

The problem comes when people finally understand how things are going and STOP buying these luxuries that things are going to get real bad. Things aren't so bad that you can't get an ipod or tv or xbox, hopefully it stays that way.

Inflation rate, 10/07-10/08 (pops)

The October level of 216.7 is 3.68 percent higher than in October 2007.

Meh.

this may just be an indicator of bargain hunting, which means that a 3% gain in black Friday = 3%+ drop for the rest of the Christmas shopping season.

Cheesy Rat: I don't care how much folks spend - it ain't sales that matters, it is earnings. And everyone has made such steep discounts already, they ain't earning shiat.

THIS.

Sales numbers don't matter. Nor do "Units Moved" or any such BS big number that people will try to give you. Earnings/Profits are the critical part. Heck, it even emphasizes it in the article:

CHICAGO -- The holiday shopping season got off to a surprisingly solid start, according to data released Saturday by a research firm. But the sales boost during the post-Thanksgiving shopathon came at the expense of profits as the nation's retailers had to slash prices to attract the crowds in a season that is expected to be the weakest in decades.

3% is less than the rate of inflation for the past year. (4-5%)

But at least the violence was up from last year.

If I remember right, the increase in people shopping on Black Friday was supposed to be up much more than 3%, which means a net loss.

I think the retailers goal this year is to just break even. We'll see.

Weaver95: 3% isn't anything to celebrate. Especially since stores had to offer some pretty hefty deals to get shoppers in the doors.

3% over last years numbers are good. 3% over last years numbers considering the unemployment and asset reduction in people's 401k/403b is a fantastic number.

Now throw in the fact that if Christmas comprises 30-40% of your sales in a given year (not unusual) then a 3% increase is a big deal.

As for the deals? I didn't see anything that good. The deals at the beginning of the summer on electronics are far better than the deals at Christmas. Also, it's been a mild fall-->winter in most of the country. That can play havoc since people don't purchase jackets/coats/mittens until the weather demands it.

Throw in some fuel reduction, and you've got a nice recipe for a decent Christmas.

Doctordoomsayswhat?

America is a third world nation with just enough disposable income to buy foreign consumer widgets.

Black Friday sales up 3% over last year. This is bad news... for doomsayers

World's still gonna end

IndyGemini: consumers may believe that Black Friday is the only day they can afford to go Christmas shopping.

My local news (not exactly that accurate) interviewed a few people on BF and more than one said that after BF they're done shopping for the season. We'll see what deals December 20th has to offer (the last Saturday before Christmas).

Retailers are going to have to work really hard to coax the money out of the wallet.

Didn't take long for the emo basement dwellers to jump the thread.

Someone called? We likely won't know the true numbers until early next year. But since we've averaged about 4.1% inflation this year, a 3% increase in raw dollar sales is an effective decrease in sales. This of course doesn't even count the fact that the margins on those sales are probably lower than last year as well.

Weaver95: What concerns me is that this is desperation buying. People ignoring reality and partying as much as they can until they can't party no more.

I've heard people used to have mortgage burning parties when they paid off their houses. I expect to see bankruptcy parties in a few years, as people celebrate farking over their creditors for a couple hundred grand.

It all has a Boston tea party feel to it, somehow.

Not to mention that even if the sales are stronger we know that many people can't pay their current bills and thus they just added to the credit card debt. So thus the credit crisis grows deeper as banks continue to hoard cash to write down loses.

The drop in gas prices truly saved Christmas Holiday shopping as people looked at the extra hundred bucks in their bank account and decided that they could 'afford' the 52 inch LCD TV.

I agree that 3% is not much but is probably a win for the retailers - assuming people bought more than just the loss leaders

fernandez: Black Friday sales up 3% over last year. This is bad news... for doomsayers

World's still gonna end

Already did. What you're experiencing now is the last dream of your dying brain as you lie crushed in the wreckage.

skhval_factory: America is a third world nation with just enough disposable income to buy foreign consumer widgets.

Either you've never been to a third world country, or this is one of the dumbest statements I have ever seen.

I'll choose to believe you're just not well traveled.

This is bad news for everyone, Consumption is the Cause of this economic problem.

People are SPENDING money they do not have. I wonder how much of that went on Credit Cards that people can not pay off?

Black Friday sales are meaningless. It just shows that even more people are going to extreme measures (shopping on Black Friday) to save a few bucks.

I would say high sales on this day are, in fact, a bad sign of things to come.

DUH! people still have money left. Wait until next year, when there are no unemployment benefits left

what was the over/under on deaths?

Subby, I really hope you have someone managing your money for you. You're an idiot.

Meh, I looked at the Black Friday deals, and didn't find anything I was interested in. The "cheap" stuff was all shiatty, and anything of decent quality cost the same as I can get it any other day of the year.

Hype, it is.

Just wait oh impatient one, the season is just getting started and I is going to be a huge bust. The discounts this weekend are nothing compared to what the January discounts will be.

broomballwilson: Black Friday sales are meaningless. It just shows that even more people are going to extreme measures (shopping on Black Friday) to save a few bucks.

I would say high sales on this day are, in fact, a bad sign of things to come.

Yup, and if Black Friday sales were bad you'd say "This is exactly proof of what I've been saying. If sales can't even go up on a day with so many discounts, retailers are screwed. Low sales on this day are, in fact, a bad sign of things to come."

/You and every other Farker
//Bet you were predicting $5/gallon oil too

I bought a brand new macbook pro for $399 online yesterday, so I'm getting a kick out of these responses.

You guys are a riot. Sales go up a bit: "ZOMG! IT DOESN'T MEAN ANYTHING!", whereas if they'd dropped any significant amount it would have been, "ZOMG! EVERYBODY PANIC!"

The fact that sales went UP a bit is a good sign, in that it could be because people are confident that things will improve before too long. Also, the S&P 500 just had its best week since 1975 (IIRC from something I read). No, it doesn't mean we're "out of the woods", far from it. We have a long way to go before we can say that.

I could certainly be wrong, but I think we're bottoming out. I expect things to begin turning truly positive in 6-12 months, not that I have any great powers of prediction. That's just one FARKer's opinion based on the limited evidence any of us has.

deltabourne: //Bet you were predicting $5/gallon oil too

Damn, that would be $210/barrel oil.

fatassbastard: I could certainly be wrong, but I think we're bottoming out. I expect things to begin turning truly positive in 6-12 months, not that I have any great powers of prediction. That's just one FARKer's opinion based on the limited evidence any of us has.

FARK is the wrong place to be optimistic. Doom, doom I say! The zombie apocalypse is upon us!

I went to the mall, I didn't find buy anything. I did find some money laying around.

sales are up 3% for this black friday weekend


too farking bad that they have been -75% for the last 3 months!!!


//hoping I still have a job in january
//small retail shop

echo5juliet: Just wait oh impatient one, the season is just getting started and I is going to be a huge bust. The discounts this weekend are nothing compared to what the January discounts will be.

"and it is going to be a huge bust"

/i'm sick and can't type