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ICSC Retail Store Sales: -1.7% W/W, vs. +1.0% last week. +1.8% Y/Y, vs. +3.3% last week.

ICSC Retail Store Sales: -1.7% W/W, vs. +1.0% last week. +1.8% Y/Y, vs. +3.3% last week.
Comments (2)
  • wapiti
    , contributor
    Comments (711) | Send Message
    Is the consumer finally starting to quit spending or are his/her credit cards maxed out? If this is the case, watch out below for these highly overvalued retail stocks!
    31 Jul 2012, 08:27 AM Reply Like
  • sr1977
    , contributor
    Comments (369) | Send Message
    My impression in my part of the world (S.FL) is that large numbers of whats left of the middle class & upper lower class are on the cusp of going completely broke. These would be the "savers" who were probably mostly prudent financially prior to 2008 and had socked away cash for a rainy day. For them, from the fall of 2008 to now has been one long rainy day and their resources are nearly depleted. Many of these people have underwater homes that they are current on the payments with, but can't continue the game much longer. With housing prices having popped 10% YOY in S.FL & demand up due to lack of distressed RE they appear to be trying sell on the weekends - "For Sale by Owner" signs pop up like magic all over town on the weekends and buyer traffic looks so-so to OK.


    Most businesses in these low to middle income area's appear to be dieing slow deaths and strip mall vacancies are high.


    I suspect that if anyone did an analysis of the ratio of checking account balances approaching zero to those that are not and the ratio of checking account balances that more money is being drawn out of than is being put into than those that are not...and compare those to the same ratio's going back 5 years...that you would most likely uncover some sobering statistics.
    31 Jul 2012, 09:09 AM Reply Like
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