WTF?……. Energized shoppers break one-day holiday sales record.

[Mainecat]

The economy sucks I’ve been told here dozens of times……..

Energized shoppers break one-day holiday sales record.

Source: CNN Business

Published 2:07 PM EST, Sat November 25, 2023 


CNN — Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year.

Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse insights, which noted that apparel, jewelry and restaurant categories saw considerable spikes. In-store sales jumped a little more than 1%, while e-commerce led the charge with an increase of 8.5%.

However, Sensormatic Solutions, which tracks shopper traffic at brick-and-mortar stores, found that visits on Black Friday were up 4.6% from 2022. This is a turnaround for retailers, the company said, as foot traffic has been down an average of 2.4% this year.

“Though we anticipated an increase, in-store shopper traffic outperformed our expectations,” Grant Gustafson, head of retail consulting and analytics at Sensormatic, said in a statement. “Consumers are again finding joy in brick-and-mortar shopping, seeing it as an experience to be shared with loved ones. It’s a testament to the hard work retailers have done to streamline journeys and deliver satisfying experiences.” Adobe Analytics, which tracks US online shopping, reported a record $9.8 billion in Black Friday sales, up 7.5% from 2022, driven by surging demand for electronics such as televisions, smart watches and audio equipment. 

Read more: https://www.cnn.com/2023/11/25/business/record-breaking-holiday-shopping/index.html

[Cold War]

[Steve753]

2 hours ago, Mainecat said:

The economy sucks I’ve been told here dozens of times……..

Energized shoppers break one-day holiday sales record.

Source: CNN Business

Published 2:07 PM EST, Sat November 25, 2023 


CNN — Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year.

Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse insights, which noted that apparel, jewelry and restaurant categories saw considerable spikes. In-store sales jumped a little more than 1%, while e-commerce led the charge with an increase of 8.5%.

However, Sensormatic Solutions, which tracks shopper traffic at brick-and-mortar stores, found that visits on Black Friday were up 4.6% from 2022. This is a turnaround for retailers, the company said, as foot traffic has been down an average of 2.4% this year.

“Though we anticipated an increase, in-store shopper traffic outperformed our expectations,” Grant Gustafson, head of retail consulting and analytics at Sensormatic, said in a statement. “Consumers are again finding joy in brick-and-mortar shopping, seeing it as an experience to be shared with loved ones. It’s a testament to the hard work retailers have done to streamline journeys and deliver satisfying experiences.” Adobe Analytics, which tracks US online shopping, reported a record $9.8 billion in Black Friday sales, up 7.5% from 2022, driven by surging demand for electronics such as televisions, smart watches and audio equipment. 

Read more: https://www.cnn.com/2023/11/25/business/record-breaking-holiday-shopping/index.html

Trumpers keep pushing the doom and gloom narritive. Its obvious like i've said many times, its not as bad as Trumpers would like you to think it is.

[SnowRider]

Where’s the doom and gloom…. 

 

MAGAt’s prefer lockdowns…..

[f7ben]

Well this is exactly the same as a largely expanding population and then bragging about vote totals. You’d have to be fucking retarded not to get it. Inflation devalues dollars hence more dollars will be spent. We are still in the middle of massive inflation. 

[spin_dry]

Car insurance and umbrella policy premium just took a hike. 8%. 

[Skidooski]

People are looking for deals in the midst of all these inflated prices on everything

[Frostynuts]

Lots of dumb mutherfukkers out there spending money they don,t have, on shit they don,t need, thinking they still have to keep up with the jones, while building up credit card debt like never before.

For sure, it will continue to get much worse. since these dummies have nothing to loose, until their cards get maxxed out, and then they go bankrupt.

Edited November 27, 2023 by Frostynuts

[Crnr2Crnr]

Credit card balances spiked in the third quarter to a $1.08 trillion record. Here's how we got here

https://www.cnbc.com/2023/11/07/credit-card-balances-jump-to-1point08-trillion-record-how-we-got-here.html

 

[XCR1250]

Walmart is closing 22 retail locations across the US this year, including four in Chicago, citing poor financial performance at each. In the latest move, Walmart confirmed Monday that it plans to close a store in Richmond, Virginia

[DriftBusta]

18 minutes ago, Crnr2Crnr said:

Credit card balances spiked in the third quarter to a $1.08 trillion record. Here's how we got here

https://www.cnbc.com/2023/11/07/credit-card-balances-jump-to-1point08-trillion-record-how-we-got-here.html

 

Jughead Steve thinks that because he's doing well and saw some new SxS out in Glamis, that everyone is just crushing it.  

[XCR1250]

An Insider tally of announcements by 20 major retailers in 2023 finds as many as 2,847 stores have closed or are set to close across the US.

The rationales are varied: Some companies are navigating bankruptcy proceedings, while others say they're aiming to cut costs. Several are adjusting store formats to meet changing shopping trends.

Rite Aid is the latest to join the list, with 154 drugstores set to close as the struggling pharmacy negotiates a bankruptcy deal.

Topping the list of retailers shedding locations is Bed Bath & Beyond, which declared bankruptcy and closed 896 stores across three brands this year, followed by Foot Locker, which is shuttering 545 stores across two brands by 2026 as part of a shift away from shopping malls.

See the full list:

Bed Bath & Beyond: 896 stores

Ben Tobin

Bed Bath & Beyond filed for bankruptcy and closed its stores for good on June 30. The brand is set to live on in digital form after Overstock.com purchased Bed Bath & Beyond's intellectual property assets for $21.5 million.

The wind-down affected the 360 flagship stores and 120 Buybuy Baby locations the company previously planned to keep open, plus 416 US Bed Bath & Beyond, Harmon, and Buybuy Baby stores that were already set to close, bringing the total count to 896 locations closing this year.

 

Foot Locker: 545 stores

VIEW press/contributor/Getty Images

Foot Locker said in March that it would close as many as 420 stores by 2026 in shopping malls as part of a plan meant to "reset" the company, as well as 125 Champs Sports locations. It also said it aimed to open more than 300 "new concept" stores in the same period, including locations outside malls.

 

Tuesday Morning: 487 stores

Xinhua News Agency / Contributor/Getty Images

The Dallas-based home goods company said on April 29 that it was shutting down all of its stores. The news came after the company said in February that it planned to close more than half of its stores amid bankruptcy proceedings.

 

CVS: 300 stores

CVS said it was reviewing the FDA announcement regarding dispensing the abortion pill mifepristone.  MediaNews Group/Boston Herald via Getty Images

CVS is in the second year of a three-year plan to close a total of 900 stores by the end of 2024 as changing populations and buying patterns led the company to reconsider how many stores it needs in certain areas.

In a statement in November 2021, the company said the strategy aimed to complement an expanding digital presence.

 

Rite Aid: 154 stores

Shoshy Ciment/Business Insider

The pharmacy chain Rite Aid has released a list of 154 locations it's closing as it navigates bankruptcy proceedings. The closing stores are spread throughout the US but concentrated in California as well as Northeastern states, including New York and Pennsylvania.

A spokesperson told Insider the company considered a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance."

The company has about 2,100 drugstores, and people familiar with discussions previously told The Wall Street Journal that the number of closures could reach as high as 500.

 

Walgreens: 150 stores (in US)

A Walgreens store in Richmond, California.  Justin Sullivan/Getty Images

Walgreens plans to close 150 stores in the US and 300 in the United Kingdom, the company disclosed in its third-quarter earnings call.

The chain operates roughly 9,000 US stores and did not specify which locations would close.

 

Christmas Tree Shops: 82 stores

Alex Wong/Getty Images

The Massachusetts-based seasonal specialty retailer filed for bankruptcy in May and is going out of business, citing slowing demand, inflation, and rising interest rates.

The chain had already closed 10 stores and said it was winding down the remaining 72 locations across 20 states.

 

Bath & Body Works: 50 stores

Johnny Louis/Getty Images

Although the olfactory factory is, in fact, expanding its retail footprint this year with 90 new stand-alone stores and 25 remodels, it told investors the move would involve the closure of about 50 of its mall-based stores. Bath & Body Works' net gain comes as a loss for US malls that are seeing an exodus of legacy tenants.

 

Gap and Banana Republic: 46 stores

Marina Nazario/Business Insider

Four Banana Republic stores have already closed this year, two years after its parent company, Gap, said it would close about 350 Gap and Banana Republic stores by the end of 2023. The company reported in fourth-quarter earnings that it had 912 locations at the end of 2022 and would end 2023 with about 866.

 

Party City: 31 stores

Daysi Calavia-Robertson/Newsday RM via Getty Images

After announcing 22 store closures in February, the retailer added another nine to the closure list in April.

 

Walmart: 23 locations

The Walmart logo is seen outside a Walmart store in Burbank, California on August 15, 2022  ROBYN BECK/AFP via Getty Images

The big box retailer is shuttering 22 stores across multiple states, citing poor performance, as well as both of its remaining pickup-only concepts. The closures follow a trend of Walmart closing a handful of stores across various states each year.

 

Best Buy: 20 stores

Brendan McDermid/Reuters

The electronics giant said it planned to close 20 to 30 of its large-format stores as it opens eight smaller concepts and 10 outlet locations, without specifying where these openings or closures would occur. The company typically closes 15 to 20 large stores per year as leases are reviewed.

 

Target: 13 stores

Ann Matica/Insider

Target announced in September that it was closing nine stores in the New York, Portland, San Francisco, and Seattle areas because of theft and organized retail crime. Eligible team members will have an opportunity to transfer to other locations, Target said in a statement.

Earlier this year, the company announced plans to close four other locations in three metro areas: two near DC, one in Philadelphia, and one in its hometown of Minneapolis. The company cited declining foot traffic as its primary reason for those closures and said most store employees would be offered positions at other locations. It also said it would open about 20 new stores this year.

 

Moosejaw: 11 stores

Stephen Zenner/SOPA Images/LightRocket via Getty Images

Dick's Sporting Goods will close 11 Moosejaw locations just months after buying the company from Walmart, multiple outlets reported in September.

The company said it would integrate leadership of the remaining three stores with its primary outdoors-focused brand, Public Lands.

 

Lidl: 11 stores

Beata Zawrzel/Getty Images

The German discount grocery chain Lidl closed underperforming locations in six states: North Carolina, Virginia, New Jersey, South Carolina, Maryland, and Pennsylvania

The chain has over 12,000 stores worldwide, with roughly 170 stores in the US. It recently opened stores in Washington, DC, and Greensboro, North Carolina, and is planning to open another in Brooklyn, New York.

 

Amazon: at least 9 stores

Amazon Fresh store  Reuters/HENRY NICHOLLS

Amazon announced the closure of nine of its Go locations — two in New York, three in Seattle, and four in San Francisco — as the company reevaluates its physical store strategy.

 

Big Lots: 7 stores

Bennett Raglin/AP

The discount chain said it was shutting down three stores in California and four in Colorado as the retailer moved toward small towns and away from urban areas.

 

The RealReal: 6 stores

The RealReal, founded in 2011, sells secondhand luxury clothing.  Brian Ach/Invision for The RealReal/AP Images

The luxury consignment marketplace said it was shuttering four stores and two consignment offices across the US to cut about $2 million in costs.

 

Macy's: 4 stores

REUTERS/Mike Segar

Macy's announced it was closing four stores during the first quarter in shopping malls in California, Colorado, Hawaii, and Maryland, as part of its three-year plan to close 125 locations.

 

JCPenney: 2 stores

JCPenney had some more basic security measures.  Ben Tobin

JCPenney said locations in Oswego, New York, and Elkhart, Indiana, would close this year following the wind-down of over 150 stores since 2020.

[800renegaderider]

3 minutes ago, XCR1250 said:

Walmart is closing 22 retail locations across the US this year, including four in Chicago, citing poor financial performance at each. In the latest move, Walmart confirmed Monday that it plans to close a store in Richmond, Virginia

Hard to show a profit in those shit hole cities when the product just walks out the door daily.

[Cold War]

Been covered many times.  American spending is unprecedented and the only thing keeping this shit economy from completely crashing.  No one is saving anymore.   

[XCR1250]

1 minute ago, Cold War said:

Been covered many times.  American spending is unprecedented and the only thing keeping this shit economy from completely crashing.  No one is saving anymore.   

I still save..about  $2,000 every month.

[Mainecat]

The republicans or what they are today MAGA’s never cease to amaze hoping for Americas fail for their gain. 
Party over country. Voters see this more and more.

[DriftBusta]

Just now, Mainecat said:

The republicans or what they are today MAGA’s never cease to amaze hoping for Americas fail for their gain. 
Party over country. Voters see this more and more.

No ones hoping for that at all, maybe look around you or go talk to a young middle class family.  Ask them how they're doing.

[poopooforme]

Three bags of groceries $159 saturday.  Ya thats gonna work for people....

[Steve753]

2 minutes ago, poopooforme said:

Three bags of groceries $159 saturday.  Ya thats gonna work for people....

What did you buy for $159?. The amount of bags doesn't mean anything. 

[Steve753]

6 minutes ago, DriftBusta said:

No ones hoping for that at all, maybe look around you or go talk to a young middle class family.  Ask them how they're doing.

Seems only Trump voters are doing bad? Why is that?

[Skidooski]

If Trump gets back in the Dems will do a 180 of course SMH

[800renegaderider]

13 minutes ago, Steve753 said:

Seems only Trump voters are doing bad? Why is that?

Only 14 per cent of American voters believe they are better off financially now than when Joe Biden took office

sounds like it’s more than just trumpers 🤷‍♂️ 

[DriftBusta]

 

17 minutes ago, Steve753 said:

Seems only Trump voters are doing bad? Why is that?

You just make that up in your head did ya?

[EvilBird]

Poor Stheve the Peeve. 

[Mainecat]

31 minutes ago, DriftBusta said:

No ones hoping for that at all, maybe look around you or go talk to a young middle class family.  Ask them how they're doing.

Look up.

see you made my point…….”go talk to a young middle class family” Republicans don’t give a shit about American families.