Posts Tagged ‘holiday shopping’

Holiday Shopping Dead Today

Holiday Shopping Dead Today

holiday shopping Courtesy of Joshua M Brown, The Reformed Broker

Roosevelt Field, one of Long Island’s biggest shopping malls, was a ghost town today.  The streets and parking lots around it were barely plowed and the people were clearly staying away.

I was only there to take care of business at the Apple Store, which in Roosevelt Field has just moved into a ginormous space, taking over what once a Restoration Hardware.  While there are lines out the door to the Apple Store here on a regular basis (even in August), today the Geniuses were milling about without much to do, the first time I’ve ever seen anything like that.

The other stores were dead as well.  Some of the vacant stores were filled in with seasonal offerings and they were the definition of sad.  One example would be the fur coat store being run as a department store annex to discount away all the unsold furs, one would assume.  There were three people in it, 2 were salespeople and one was a DJ, complete with monster speakers and 2 turntables blasting Michael Jackson songs.  I had to look away to avoid that cringing feeling one gets when one encounters something really embarrassing, like when Uncle Joey and Uncle Jesse used to perform rap songs to put the girls to bed on Full House.

Not a good year for holiday retailing, especially in the Northeast.

See also Phil’s Holiday Shopping Survey.   

 


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Small Businesses Fend Off Empty Holiday Shelves

Small Businesses Fend Off Empty Holiday Shelves

Courtesy of Mish

Retailers Prepare For Start Of Holiday Shopping Season

Tight credit and slow sales are putting retailers in a crunch this holiday season. Unable to finance their inventory via traditional means, CNN Money notes small businesses struggle fending off empty holiday shelves.

Retailers traditionally borrow money to buy holiday inventory. But credit for small businesses has dried up this year, and with the recession slowing sales, few merchants have cash on hand. The crunch is forcing business owners to find new ways to keep running.

For a handful of New York City retailers in one hard-hit stretch of Brooklyn, a small community lender is playing the role of Santa Claus. Lesia Bates Moss, president of Seedco Financial Services, noticed an ever-increasing number of vacant storefronts along Atlantic Avenue. In response, she hosted a meeting with a dozen area retailers to find out how her organization could help.

One common problem the merchants cited was getting enough credit to buy sufficient holiday inventory. So Seedco Financial, a nonprofit that specializes in financing for underserved communities, launched a streamlined holiday program: Retailers who could provide a marketing plan for spending the money and driving foot traffic would get fast loans.

On Monday, Seedco staffers started delivering checks. A typical loan request is for around $20,000, to be repaid over the next year at interest rates of 6% to 10%.

Toys and beer glasses: Karen Zebulon, the owner of toy and clothing retailer Gumbo on Atlantic Ave., is one of Seedco Financial’s borrowers.

"Especially this year, because we have had such hard times, we really need a boost," she said. "If I can really strategize and plan and buy the right merchandise, I think it can be a turning point for me.

Artez’n Gift and Gallery, which sells products made by local Brooklyn artisans, also got a loan from Seedco. Owner Jessica Furst got her check on Monday and "ran to the bank." She plans to use the cash to stock up on one of her best-selling items: pint glasses with illustrations of Brooklyn landmarks on them. They’re a proven customer lure, drawing in tourists and others who make a special trip to Artez’n for the glasses.

With sales slow this year, Furst wouldn’t have been able to afford to produce the Brooklyn beer glasses without the last-minute loan.


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Round-Up of Holiday Spending Surveys, Reports

Round-Up of Holiday Spending Surveys, Reports

holiday shoppingCourtesy of Michael Panzner at Financial Armageddon

If the following round-up of holiday spending surveys and news reports (with salient quotes) is anything to go by, those who have been counting on a V-shaped recovery in the (consumer-dependent) U.S. economy might want to reconsider:

"Consumers in a Frugal Holiday Mood, The Conference Board Reports" (PR Newswire)

U.S. households are expected to spend an average of $390 on Christmas gifts this holiday season, down from last year’s estimate of $418, The Conference Board reports today.

The survey of Christmas gift spending intentions covers a nationally representative sample of 5,000 U.S. households. It was conducted for The Conference Board in November by TNS, the world’s largest custom research company.

"Consumers are approaching the holiday season very cautiously," says Lynn Franco, Director of The Conference Board Consumer Research Center. "Job losses and uncertainty about the future are making for a very frugal shopper. Retailers will need to be quite creative to entice consumers to spend, both in stores and online this holiday season, as consumers most certainly will expect major markdowns and bargains."

"AP-GfK Poll: Debt Turning Shoppers into Scrooges" (Associated Press)

A lot more Americans are feeling stressed out by debt this holiday season, raising the glum likelihood they’ll behave like Scrooge rather than Santa.

In fact, fully 93 percent say they’ll spend less or about the same as last year, according to an Associated Press-GfK poll. Half of all those polled say they’re suffering at least some debt-related stress, and 22 percent say they’re feeling it greatly or quite a bit. That second figure is up from 17 percent just last spring, despite all the talk about economic recovery.

Most people — 80 percent — say they’ll use mostly cash to pay for their holiday shopping, and that generally means buying less.

"Stock Watchers Keep Eye on Black Friday Store Sales" (USA Today)

U.S. consumers are expected to spend $437.6 billion in the November and December period, a 1% drop from $442 billion last year, according to the National Retail Federation. Six out of 10 consumers (61%) said they would only buy goods "on sale," a survey by NPD Group found.

"Survey Shows Consumers Intend to Spend Less on Credit This Holiday Season" (Credit Union Times)

A survey of consumers


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Phil's Favorites

How high will unemployment go? During the Great Depression, 1 in 4 Americans were out of work

 

How high will unemployment go? During the Great Depression, 1 in 4 Americans were out of work

Unemployed people wait outside a government office in NYC in 1933. AP Photo

By Jay L. Zagorsky, Boston University

CC BY-ND

The U.S. unemployment rate climbed from a half-century low of 3.5% to 4.4% in March – and is expected to go a lot higher.

But could the rate, as ...



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Zero Hedge

Mysterious Colorado Doomsday Shelter For When "Law & Order Breaks Down" Sees Spike In Interest

Courtesy of ZeroHedge View original post here.

As the pandemic unfolds across the US, city dwellers are getting the hell out of dodge and escaping to rural areas. We noted this last week, with many leaving large metro areas in California, fleeing for the mountains and rural communities to limit their probabilities of ...



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Biotech/COVID-19

Why wear face masks in public? Here's what the research shows

 

Why wear face masks in public? Here's what the research shows

People have resorted to using scarves and bandanas as face masks to protect against spreading coronavirus. While cloth masks aren’t as effective as surgical masks, research suggests they can limit the spread of droplets. Jens Schleuter/Getty Images

Hector Chapa, Texas A&M University

With the coronavirus pandemic quickly spreading, U.S. health officials have changed their advice on face masks and now recommend people wear cloth masks in public areas where social...



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ValueWalk

Junior gold stocks offer a place of refuge in a falling market

By Michelle Jones. Originally published at ValueWalk.

Junior gold stocks have taken a beating alongside other stocks, but history suggests this could be the time to dive in. The Vaneck Vectors Junior Gold Miners ETF is down from where it was in February, although it’s starting to show signs that it could revive soon.

Q4 2019 hedge fund letters, conferences and more

Crescat likes junior gold stocks

In their March update to investors, Crescat Capital said junior gold stocks retested the lows of a nine-year bear market. ...



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Kimble Charting Solutions

Depression Coming or Is the Bottom Already In? Joe Friday Says Your Answer Lies Here!

Courtesy of Chris Kimble

Are we headed towards a Depression or is the worst already behind us? In today’s world, comparisons to the great depression are easy to find.

Are the Depression concerns well founded or are the declines of late already pricing in a bottom?

In my humble opinion, this chart and the upcoming price action of this index will go miles and miles towards telling us if we are headed towards very tough times or if the huge declines of late are actually in a bottoming process.

This chart looks at the Thomson Reuters Equal Weighted Commodity Index on a monthly basis over the past 54 years. The index has been heading south, reflecting weakness in demand for basi...



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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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The Technical Traders

Founder of TradersWorld Magazine Issued Special Report for Free

Courtesy of Technical Traders

Larry Jacobs owner and editor of TradersWorld magazine published a free special report with his top article and market forecast to his readers yesterday.

What is really exciting is that this forecast for all assets has played out exactly as expected from the stock market crash within his time window to the gold rally, and sharp sell-off. These forecasts have just gotten started the recent moves were only the first part of his price forecasts.

There is only one article in this special supplement, click on the image or link below to download and read it today!

...

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Chart School

Big moving Averages and macro investment decisions

Courtesy of Read the Ticker

When price is falling every one wonders where demand will come in.


RTT black screen Tv videos study the simplest measure of price (simple moving average). What has happen before guides us now. 














Changes in the world is the source of all market moves, to catch and ride the change we believe a combination of Gann Angles, ...

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Members' Corner

10 ways to spot online misinformation

 

10 ways to spot online misinformation

When you share information online, do it responsibly. Sitthiphong/Getty Images

Courtesy of H. Colleen Sinclair, Mississippi State University

Propagandists are already working to sow disinformation and social discord in the run-up to the November elections.

Many of their efforts have focused on social media, where people’s limited attention spans push them to ...



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Digital Currencies

While coronavirus rages, bitcoin has made a leap towards the mainstream

 

While coronavirus rages, bitcoin has made a leap towards the mainstream

Get used to it. Anastasiia Bakai

Courtesy of Iwa Salami, University of East London

Anyone holding bitcoin would have watched the market with alarm in recent weeks. The virtual currency, whose price other cryptocurrencies like ethereum and litecoin largely follow, plummeted from more than US$10,000 (£8,206) in mid-February to briefly below US$4,000 on March 13. Despite recovering to the mid-US$6,000s at the time of writin...



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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

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

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

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

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Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

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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