U.S. Retailers Post Strong Results In May

[M.D. Holloway]

But things are bad right? Nice to see the EconStim checks in full swing...

U.S. Retailers Post Strong Results In May
By Mae Anderson, AP Business Writer
Manufacturing.Net - June 05, 2008


NEW YORK (AP) -- Consumers stepped up their shopping in May after tax rebate checks hit mailboxes, giving many of the U.S.'s retailers stronger than expected sales for the month. Still, there were signs that many people are still focusing on necessities such as food and gas.

Discount and lower-priced stores such as Costco Wholesale Corp. and Wal-Mart Stores Inc. were again among the strongest performers.

Analysts had predicted a gloomy May, with consumers contending with a rising cost of living, declining home values and tightening credit. However, according to a preliminary report from Thomson Financial, of 17 retailers reporting early Thursday, 10 beat expectations, one met expectations and three missed.

The tally is based on same-store sales, or sales in stores open at least a year; they are considered a key indicator of a retailer's strength.

''It certainly looks as though gas tanks didn't siphon off all of the rebate stimulus,'' said Ken Perkins, president of RetailMetrics LLC, a research company in Swampscott, Massachusetts. ''Consumers were able to spend in May.''

Costco said food and gas sales helped results, along with the benefit of the weaker dollar, mainly in Canada.

Wal-Mart said it likely saw a benefit from rebate checks. While the world's largest retailer said sales in its food and health categories were strongest, it also had strong sales of entertainment items such as flat-screen TVs and reported the first same-store sales increase in the home category in two years.

Mall-based stores such as The Children's Place Retail Stores Inc. and Cache Inc. also reported results above expectations, although Limited Brands Inc. missed expectations.

[cgarr]

Imagine that! so does this mean tax cuts would work too? and tax increases would not?

[Shaun @ Tru6]

Jesus Christ, wake up! Discount retailers and lower end are doing great. Why? because the economy is crap and people don't have $. the little they do, they can only afford cheap, low-lead content crap from China.

I sell to Main Street boutiques and nicer stores. in the last 60 days, 5 stores have gone out of business.

Sure, take your b!thchin refund and buy more cheap crap from China. be a Patriot.

[Jim Richards]

ni hao ma?

[cgarr]

At least when we have the money we can spend it any way we want! I guess your only a Patriot if you give it to SAM? That doesn't keep my neighbor and kids from loosing their home.

We have been swamped this spring trying to keep the retail stores supplied, no lay offs during this spring season so far. I like it!

[M.D. Holloway]

Originally Posted by Shaun 84 Targa

Jesus Christ, wake up! Discount retailers and lower end are doing great. Why? because the economy is crap and people don't have $. the little they do, they can only afford cheap, low-lead content crap from China.

I sell to Main Street boutiques and nicer stores. in the last 60 days, 5 stores have gone out of business.

Sure, take your b!thchin refund and buy more cheap crap from China. be a Patriot.

so says the guy trying to peddle the high end stuff - and who makes your stuff again?...

[Jim Richards]

Isn't Shaun's stuff Made in USA?

[Shaun @ Tru6]

Shirts are all made in the U.S.

Pants and jackets are made in India. Why? Because there isn't a single U.S. garment manufacturer in the U.S. that will do children's pants and jackets. Those factories are gone. Why India? It's a democracy and long-time U.S. ally. We don't do business with Communist China.

And Mike if you want to send your kids to Church, grandmas, birthdays, field trips and any other special event in crap made in China for Old Navy, be my guest. If you would rather frequent the Big Box store that destroys Small Town American Business, it's a free country. Go ahead, be a Patriot, shop at Walmart, support the Chinese economy.

What I can't stand is this "5 minutes into the future, I'm all good" thinking. It's what lost us our manufacturing base and what will ultimately destroy our country.

[nostatic]

I've never set foot in a Walmart...

So the rebate checks came and like good little consumer lemmings, people went and bought cheap crap.

What happens in June?

[onewhippedpuppy]

Originally Posted by Shaun 84 Targa

Jesus Christ, wake up! Discount retailers and lower end are doing great. Why? because the economy is crap and people don't have $. the little they do, they can only afford cheap, low-lead content crap from China.

I sell to Main Street boutiques and nicer stores. in the last 60 days, 5 stores have gone out of business.

Sure, take your b!thchin refund and buy more cheap crap from China. be a Patriot.

Maybe you should market your stuff to Wal-Mart? Sorry, couldn't resist.

[dtw]

Originally Posted by Shaun 84 Targa

Jesus Christ, wake up! Discount retailers and lower end

So what about the upturn in domestic manufacturing, if you want something more sustainable. Lubemaster has posted threads this week that have quietly fallen off the front page about this. Wonder why those threads aren't staying up top. I wonder.

[Jim Richards]

Lube needs to put pics of hot babes in his posts to keep them at the top of Page 1. Come on Lube, get with it!

[badcar]

Other performances...posted without comment.

Saks/May -8.7% comp May
Steinmart -12.4% comp May
Target -.7% comp May
BonTon -8.7% comp May
Dillards -7% comp May
Sport Chalet -8.6% comp Q4
Gander Mountain -6.7comp Q1
Dicks Sporting goods -3.8 comp Q1
DSW -5.4% Q1

BJ's+13.4% comps May (Gas prices credited in release)
Costo +9% comp May
Walmart +4.4% comp May

[Shaun @ Tru6]

Originally Posted by dtw

So what about the upturn in domestic manufacturing, if you want something more sustainable. Lubemaster has posted threads this week that have quietly fallen off the front page about this. Wonder why those threads aren't staying up top. I wonder.

There is an upturn Dave, based on the weak Dollar, and I'm glad for it even though it's part of the ultimately destructive Cost of Energy cycle. And I hope more garment companies like mine bring mfg. back to the U.S. There are tremendous benefits to our company to do U.S. mfg., but we are still limited to basic T's...it's been a huge thing to do 2fers (short sleeve with contrast longsleeve and waist trim so it looks like 2 shirts). Our guy in PA has never done it and because color quantities are low for sleeves and waist, we're paying full price for a 20% capacity dye job. And anything like our handmade shirts, mfg.'s won't touch our Urban Dino line, means I'm still using an HPLV to turn out T-Rex skulls vs. paying someone a $1/shirt to do it because they have some leftover capacity.

More U.S. mfg. is ultimately best for this country. We can't survive in the long term under our current service economy model which is really a slowly decreasing cycle spiraling down into Depression...10 years, 50 years...just a matter of time.

[Jim Richards]

Didn't the Romans employ a service economy model?

[kach22i]

Originally Posted by Shaun 84 Targa

More U.S. mfg. is ultimately best for this country. We can't survive in the long term under our current service economy model which is really a slowly decreasing cycle spiraling down into Depression...10 years, 50 years...just a matter of time.

Thanks for clearing up that poorly written and misleading article Shaun.

The loyal 28% clearly are not loyal to the long term economic health of the USA.

[onewhippedpuppy]

16 posts before somebody blamed Bush. Let's try some intelligent discourse for once, as opposed to monkeys throwing poo.

[Jim Richards]

Isn't that a record for self-restraint?

[nostatic]

at least he didn't mention butt darts

oh wait

[Jim Richards]

Todd, you need to get butt darts off your mind.