Posts Tagged ‘discounts’

Frugality the New Reality in Australia; Predatory Customers Addicted to Discounts

Frugality the New Reality in Australia; Predatory Customers Addicted to Discounts

Courtesy of Mish 

LONDON, ENGLAND - NOVEMBER 27:  A man views the discounted items for sale in a branch of Books Etc which has gone into administration on November 27, 2009 in London, England. The nationwide book chain, along with its sister brand 'Borders', is seeking a buyer for all of its 45 stores. Increased competition from supermarkets and online bookstores are being blamed for the chain's decline. (Photo by Oli Scarff/Getty Images)

I have commented many times on US Consumer and Corporate Frugality but inquiring minds might be interested in happenings down under. Frugality has gone global.

Predatory Customers Addicted to Discounts 

The Herald Sun reports Retailers could take years to recover because customers addicted to discounts.

A bargain frenzy since the global financial crisis has led consumers to expect and accept only slashed prices.

The dire forecast, from market research company TNS director Chris Kirby, comes as bored staff in some stores are put to work cleaning, tidying and changing window displays because of a lack of customers.

At some sites, especially fashion outlets, stock is discounted by up to 70 per cent as soon as it hits shelves to attract shopper interest.

"Consumers are no longer willing to accept the first price they find. They know there’s a good chance of finding it cheaper somewhere else," Mr Kirby said. "In essence the industry is training us to become professional, if not predatory, consumers."

The caution came as a Commonwealth Bank economic index that tracks credit and debit card transaction value trends across a wide range of industries reported the weakest spending since the height of the global financial crisis in early 2008.

Desperate Retailers Slashing Prices by 75 Percent 

NEW YORK - FEBRUARY 12: A '75% Off' sign is seen February 12, 2009 in the Brooklyn borough of New York City. U.S. retail sales unexpectedly rebounded 1.0 percent in January after dropping for six months in a row, according to the Commerce Department.  (Photo by Mario Tama/Getty Images)

Please consider Retailers slashing prices by 75% as Queensland sales slow

One retail organisation, the United Retail Federation, said the slump was at its worst in Queensland, where small retailers were struggling to move stock, even after heavily discounting items.

The bleak picture is at odds with scenes of hundreds of shoppers queuing at lay-by counters to take advantage of major toy sales.

Thousands of bargain hunters queued at Big W stores for the start of its two-week toy sale, which ended last week.

One Gold Coast shopper complained of a four-hour wait at her local Big W store, and of being hit in the ankles with shopping trolleys in the stampede.

Target will follow with its toy sale from July 22 to August 4, having already released its 72-page catalogue offering 120 half-price bargains.

But Australian Retailers Association director Russell Zimmerman said retailers generally were finding it difficult to clear stock, even at hefty discounts. "It’s tough out there and retailers are finding it harder


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Following Yesterday’s Hype of Fastest Growth in 4 Years, June Retail Sales a “Mixed Bag”

Following Yesterday’s Hype of Fastest Growth in 4 Years, June Retail Sales a "Mixed Bag"

Sale tags attached to hanging clothes, close-up

Courtesy of Mish 

The Wall Street Journal reports Retailers Turn in a Mixed Bag for June Sales.

U.S. retailers reported mixed results for June, with some stores benefiting from aggressive promotions and others hurt by consumers’ continued restrained spending.

Retailers from department stores to teen retailers responded to limited demand with increased markdowns. Big sales during June are common as retailers try to clear shelves for fall merchandise, especially back-to-school apparel. But a number of analysts are calling June’s discounting steep.

"Many retailers pulled out all of the stops with respect to promos in June," said Brian Sozzi, retail analyst at Wall Street Strategies. "During our store walks throughout the month, the level of promotions picked up relative to previous months."

"Sales in electronics, video games, music and movies were particularly soft for the month," said Target Chief Executive Gregg Steinhafel. "We continue to plan our business cautiously." Target said it expects July same-store sales to be up in the low single digits.

Retailers were forecast to report 3.2% growth at stores open at least a year, according to the 28 companies tracked by Thomson Reuters. The estimate compares with a 4.9% drop last year. Same-store sales are considered a key barometer of retailers’ health because the figures allow clean comparisons as opposed to overall sales because store numbers fluctuate.

"We’re almost treading water compared to the building spending momentum we saw at the beginning of the year," said Mike Berry, director of industry research at MasterCard Inc.’s Spending Pulse unit. "At the beginning of the year, people were anticipating good news and spending increased. When economy didn’t turn around, consumers took a step back."

Retail Winners Exceeding Expectations

J.C. Penney Co. (JCP) sales +4.5%
Macy’s (M) sales +6.5% w
Nordstrom (JWN) sales +14%
Ambercrombie & Fitch (ANF) sales +9%

Retail Losers Not Meeting Expectations

Target (TGT) sales +1.7% vs. expectations of +2.7%
Kohl’s (KSS) sales +5.9% vs. +6.5% expected
Teen retailer Wet Seal (WTSLA) sales -3.6%
Gap (GPS) sales flat

Retail Sales Synopsis

Those numbers may seem pretty good but June sales benefited from a late Memorial Day that pushed sales into June. Moreover, June is normally a stronger month than May. More importantly, note how estimates were ratcheted lower…
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July Home Sales Surge More Than 7%

July Home Sales Surge More Than 7%

TIME photoBy AP / ALAN ZIBEL, courtesy of TIME

(WASHINGTON) — Home resales posted the largest monthly increase in at least 10 years last month as first-time buyers rushed to take advantage of a tax credit that expires this fall.

The National Association of Realtors said Thursday that home sales rose 7.2 percent to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. (Read "Home Sales Perk Up, but Expensive Houses Languish")

It was the fourth-straight monthly increase and the highest level of sales since August 2007. Sales had been expected to rise to an annual pace of 5 million, according to economists surveyed by Thomson Reuters..

The inventory of unsold homes on the market rose to 4.1 million, from 3.8 million a month earlier. That’s a 9.4-month supply at the current sales pace, unchanged from a month earlier.

Sales of foreclosures and other distressed properties made up about a third of all transactions last month, down from nearly half earlier this year. In places like San Diego and Orlando, buyers are snapping up foreclosed properties at deep discounts, and real estate agents are pressing banks to release more foreclosures onto the market…

Entire article here.

 


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Phil's Favorites

Do Public Markets Matter Like They Used To?

 

Do Public Markets Matter Like They Used To?

Courtesy of Howard Lindzon

The new hip mantra is ‘public markets DON’T matter as much anymore‘ and a lot of the smart money has moved to the private markets- see Matt Levine’s great post.

?The people that say this loudest are journalists, fintwit opinionados , underperforming hedge funds and billionaires.

The truth is OF COURSE public markets matter depending on where you sit.

My friend Ba...



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Zero Hedge

Microsoft Reportedly Expands Scope Of TikTok Deal Talks To Cover Entire Ex-China Business

Courtesy of ZeroHedge View original post here.

Updates about the ongoing deal talks between Microsoft and ByteDance are arriving almost as rapidly as updates about the ongoing negotiations between the White House and Congressional Democrats over an extension of financial relief for American citizens and businesses.

And the latest report comes from the FT, which says that Microsoft and ByteDance ar...



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ValueWalk

Coronavirus stimulus checks: McConnell ready to delay Aug recess

By Aman Jain. Originally published at ValueWalk.

We are now just days away from the August 7 deadline for the next coronavirus package. Though negotiators are working hard to come up with a deal, there are still differences between the two sides. In case there is no decision on the coronavirus stimulus checks deal by August 7, Senate Majority Leader Mitch McConnell has assured that they will delay the scheduled recess. Presently, the last day in session is scheduled for August 7, after which the Senate will go on a month-long break until September 8.

Q2 2020 hedge fund letters, conferences and more

Coronavirus stimulus: pr...

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Kimble Charting Solutions

Silver Headed Back To $50, Top Of The Cup & Handle Pattern?

Courtesy of Chris Kimble

Could Silver be creating a multi-decade bullish “Cup & Handle” pattern? Possible!

Did a retest of a handle breakout take place in March at (1), where Silver created one of the largest bullish reversals in decades? Possible!

Could Silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40-years and I haven’t seen anything like this.

Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, Silver ...



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The Technical Traders

Walk Through the Gold and Silver Charts to See What to Expect

Courtesy of Technical Traders

Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

Learn more about our ...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 29 March 2020, 07:00:37 PM

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Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



Date Found: Monday, 30 March 2020, 05:21:45 PM

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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


...

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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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