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Retail

Retail Sales: The Consumer Cuts Back (WMT)(BBY)(GPS)

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By Douglas A. McIntyre Published
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Retail sales for December put shareholders in companies like Target and Gap on suicide watch. Target same store figures were up about 4%, the low end of expectations. Gap same store sales fell 8%.

Wal-Mart has already turned in poor numbers for the last month of the year,

Pundits and the press want to blame warm weather and procrastinating consumers. How warm weather keeps people out of stores is hard to figure out.

The answer may be much more simple. With home prices dropping, gas prices still fairly high, and sub-prime debt default rates moving up, the consumer may be running out of gas. Jobless filings also increased in the most recently reported period.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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