[posting]36259086[/posting]@ #582 von unicum
>> So, der Weihnachtskonsum 2008 mußte also ohne Finanzkrise auskommen.
Ich habe mich eh schon die ganze Zeit gewundert, dass der deutsche Einzelhandel so jammert. Bis auf ein paar Zeitarbeiter in der Automobilindustrie ist die Krise ja nicht wirklich im Portmonee der deutschen Konsumenten angekommen. Ganz anders sieht es natürlich in den USA aus.
MfG J
E Retail Sales Plummet
26.12.2008 THE WALL STREET JOURNAL By ANN ZIMMERMAN, JENNIFER SARANOW and MIGUEL BUSTILLO -- Price-slashing failed to rescue a bleak holiday season for beleaguered retailers, as sales plunged across most categories on shrinking consumer spending, according to new data released Thursday.
Despite a flurry of last-minute shoppers lured by the deep discounts, total retail sales, excluding automobiles, fell over the year-earlier period by 5.5% in November and 8% in December through Christmas Eve, according to MasterCard Inc.'s SpendingPulse unit. When gasoline sales are excluded, the fall in overall retail sales is more modest: a 2.5% drop in November and a 4% decline in December. A 40% drop in gasoline prices over the year-earlier period contributed to the sharp decline in total sales.
But considering individual sectors, "This will go down as the one of the worst holiday sales seasons on record," said Mary Delk, a director in the retail practice at consulting firm Deloitte LLP. "Retailers went from 'Ho-ho' to 'Uh-oh' to 'Oh-no.'" The holiday retail-sales decline was much worse than the already-dire picture painted by industry forecasts, which had predicted sales ranging from a 1% drop to a more optimistic increase of 2.2%.
Luxury goods, once considered immune from economic turmoil, were hardest hit, with sales falling 21.2%, compared with a jump of 7.5% a year ago, when the economy had just begun to sputter. Including jewelry sales, the luxury sector plunged by a whopping 34.5%.
During the same period last year, overall retail sales rose a modest 2.4%, helped by late-season discounting that enticed procrastinating shoppers. But this year, after a moderate uptick in shopping activity boosted by steep promotions the Friday after Thanksgiving, shoppers closed their wallets and reopened them only cautiously, worried by job losses, a sinking stock market and a recession climbing into its second year. "There has been a major contraction in consumer spending," Michael McNamara, vice president of research and analysis for MasterCard Advisors, said in an interview yesterday.
This spells a bitter disappointment for companies that had hoped the holidays would offset a year when sales have been sliding steadily, draining profits and, in many instances, undermining the ability to pay down debt. The industry already has seen a parade of retailers entering bankruptcy proceedings, such as Circuit City Stores Inc., and liquidating, including Mervyn's LLC and Linens 'N Things Inc. The weak holiday sales mean more chains are likely to follow suit next year.
'The Buying Climate'
To be sure, there was a glimmer of positive economic news this week as well, as the Labor Department released figures showing inflation-adjusted consumer spending inched up slightly in November as gas prices fell steeply. The personal savings rate also climbed in November. Socking away more in the bank leaves less for splurging at the mall.
"It's all about restoring confidence in the buying climate and declining prices help to bring us there, but we're not there yet," said Michael Niemira, chief economist at the International Council of Shopping Centers.
At a Los Angeles Anthropologie store on Christmas Eve, even a clearance table at the apparel and home-goods store didn't tempt Gloria Langstaff, 60 years old. "We're spending less," said the librarian from Missoula, Mont., who is visiting Los Angeles on an annual holiday trip. The trip itself was a cutback from last year, when the family went to the Dominican Republic.
A final burst of spending retailers hoped for last weekend never came. Shopper traffic fell 27% compared with the same time last year, while sales declined 5.3%, according to ShopperTrak RCT Corp., which tracks sales in retail outlets nationwide. Bad weather on both coasts combined with economic factors to slow sales, the company said.
Few retailers were counting on the holidays being robust when they placed conservative orders for merchandise last summer. Most worried that high gas prices and the continuing housing slump would cause another lackluster year. But even that conservative approach wasn't enough when the bottom fell out of the stock market in September. By October, retail sales were declining faster than expected amid the steady drumbeat of bad economic news.
No retail sector was spared. Among the biggest losers were electronics and appliances, which fell a combined 26.7% versus a 2.7% gain last year. Women's apparel slid 22.7% compared with a 2.4% drop a year ago. E-commerce showed the most resilience, with online sales falling just 2%. But it was still a disappointment compared with last year when online sales posted a 22.4% gain in the period.
In addition to sales at stores and online, SpendingPulse tracks spending at restaurants and on gift cards, though retailers don't book revenue from card sales until they are redeemed. Its data are based on sales activity in the MasterCard payments network with estimates for all other payment forms, including cash and checks.
At the Prudential Center mall in downtown Boston on Christmas Eve, Stephen Sweigart and Paul Heffernan were perusing sale items and refused to buy anything for less than half off. Mr. Sweigart said he wasn't spending as much on family this year, and was making donations to charity in lieu of gifts due to the recession. "It makes unwrapping presents a lot faster, and we spent less money. It's a win-win," he said.
Glen Senk, chief executive officer of clothing and home accessories retailer Urban Outfitters Inc., said he's been struck by the extent of retail price cuts over the past several months. Mr. Senk says he's not planning any unusual post-Christmas price cuts. The season's dismal results have left stores with mountains of inventory to clear, prompting many to move up their typical January clearance sales to this weekend to help salvage what they can of the season.
Luxury retailer Neiman Marcus Group Inc.'s namesake department-store chain posted its online after-Christmas sale on Tuesday, with the message: "Savings so good, we couldn't wait!" and offered 40% off already reduced merchandise. Two weeks ago, Neiman's reported its net profit dropped 84% for its fiscal first quarter as affluent shoppers cut way back on discretionary purchases.
J.C. Penney Co. is offering free wake-up calls to rouse department-store shoppers at 5:30 a.m. Friday. From the time the store opens until 1 p.m., the stores will offer 100 "doorbuster" deals, twice as many as last year, including 50% off Ralph Lauren-designed American Living sportswear line, 70% off gold and sterling-silver jewelry and juniors holiday sweaters for $9.99.
Limited Brands Inc. is moving the start date of semiannual sales at its Victoria's Secret and Bath & Body Works stores to the end of December from January, according to a spokeswoman. Both chains are already offering the semiannual sale prices online.
Retailers were stung by a shorter holiday-shopping season this year -- just 27 days between Thanksgiving and Christmas in 2008 compared with 32 in 2007. But some are holding out hope that the calendar will improve post-Christmas sales. This year, a complete weekend falls between Christmas and New Year's Eve. "What we lose between Thanksgiving and Christmas, we think we gain between Christmas and New Year's," said Jeff Maynard, the head of marketing at Circuit City, which has been advertising Blu-Ray discs for $12.99 this week and unveiled a fresh round of post-Christmas sales Thursday.
Circuit City, which is operating under Chapter 11 bankruptcy-court protection, needs the extra sales. An attorney for the company told a judge this week that holiday sales were down 50%, nearly twice what the chain had expected.
Early Discounts
The post-Christmas lift retailers are now hoping for may be hampered by shoppers who took advantage of early discounts and snapped up merchandise for themselves. In a survey by the International Council of Shopping Centers and Goldman Sachs Group, 20% of consumers said they took advantage of bargains and bought for themselves.
Michelle Culang, 26, a doctoral student at City University of New York, stopped by Macy's Herald Square store in Manhattan before Christmas because the store was having a big sale on pillows. "Once I saw the prices I bought more than I would have," said Ms. Culang, who spent $130 on a satin-sheet set and two extra-firm pillows for $29.99 each, marked down from $100.
Retailers soon may face yet another blow. In recent years, they have seen a big lift in post-Christmas sales as shoppers coming back to stores to redeem gift cards often spent more than the card amount to buy full-price merchandise. But Deloitte's holiday consumer survey earlier this week found that shoppers expected to spend only $151 on gift cards this season, a 24% drop from last year. --— Rachel Dodes, Nicholas Casey and Ben Casselman contributed to this article. Write to Ann Zimmerman at ann.zimmerman@wsj.com, Jennifer Saranow at jennifer.saranow@wsj.com and Miguel Bustillo at miguel.bustillo@wsj.com
Bah, Humbug - Year-over-Year change in holiday-season* retail sales
Online Sales...............................-2%
Footwear..................................-14%
Men's Apparel..........................-14%
Furniture...................................-20%
Luxury........................................-21%
Women's Apparel....................-23%
Electronics/Appliances............-27%
Luxury including jewelry..........-35%
*)Nov. 1 - Dec. 24; Source: SpendingPulse, Mastercard Advisors