Luxury Sells, Discounters Disappointed

[kskiska]

CHICAGO (Reuters) - Wealthier shoppers splurged at luxury stores in November as consumer confidence grew, but many lower-end chains had poor-to-average sales in a mixed start to the big holiday shopping season, U.S. retailers reported on Thursday.

(snip)

Analysts had expected upscale retailers to do better than discounters amid signs of a rebounding U.S. economy. Customers who shopped at lower-priced stores last year because of tight budgets were ready to spend this year.

"The trend we're seeing is that the high-end consumer is doing very well," said Bill Dreher, retail analyst with Deutsche Bank.

Lower tax rates, a stronger U.S. stock market and improving job security boosted sentiment among wealthier consumers. Many lower-income people, however, have seen little benefit from the improving economy, he said.

more…
http://story.news.yahoo.com/news?tmpl=story&cid=580&e=2&u=/nm/20031204/bs_nm/retail_sales_dc

[Skidmore]

1. Yup, that tax cut sure helped the average American.

What did they expect? Boy, I hope Walmart and their tank under the sheer weight of their greed.

[Skidmore]

2. Yup, that tax cut sure helped the average American.

What did they expect? Boy, I hope Walmart and their tank under the sheer weight of their greed.

[T Roosevelt]

3. Just what would be expected

Those few that still have money (the wealthy) are spending it for Christmas. Those that don't (the rest of us) are not spending or are spending as little as possible.

[jayfish]

4. But,But Bu...

what about the throngs of people trampling over one another and all of the anecdotal evidence of brisk sales on Black Friday? Once again, scream the lie whisper the truth. Push this story hard. Take a look at the discussions attached to the story too. Not a lot of happy shoppers over there.

Jay

[JPace]

5. The rich are getting richer....

and the poor are getting poorer.
Wonder how the bush regime is going
to spin these numbers to make them
look like this is not true?

[LibDemAlways]

6. If my experience at the mall last Sunday

was typical, this is going to be one sucky shopping season. The stores were mostly empty.

[PVnRT]

7. Gee, I'm glad the "high-end consumer" is doing better

Boy, that eases my mind! :eyes:

[AP]

8. Bush is keeping the biggest unspoken promise of his campaign:

Make the rich richer. Much much richer. No matter what it costs society.

I also heard that oil company profits have QUADRUPLED since 2000.

That's in a bad economy. Most people are getting poorer, but the oil companies are quadrulpling profits. That's what the 87 bil in Iraq is subsidizing: profits for oil companies.

People say Bush is a failure. I say he is tremendously successful. He is achieving everything he set out to achieve.