Retailers post muted July sales growth

[RamboLiberal]

http://www.msnbc.msn.com/id/5610655/

Consumers’ frugal spending extended into a second month during July, giving many retailers lackluster sales gains, particularly at mall-based apparel chains like Gap Inc.

Analysts attributed the disappointing sales to a variety of factors, including the end of the mortgage refinancing boom and the continuing impact of higher gasoline prices. They said retailers should expect more of this downbeat trend going forward.

“I think it will be tough to sustain the increases,” from the first half of the year, said Jay McIntosh, director of Ernnst & Young’s retail and consumer products industry group. He also cited consumers’ lingering concerns about job security.

Analysts also said apparel chains were hurt by cooler than usual weather in the beginning of July.

[mbperrin]

1. Analysts also said apparel chains were hurt by cooler than usual weather i

What the hell does this have to do with anything? People don't like clothes in cooler weather?

[Nay]

5. Yeah, what's with that?? It's not like it's freezing outside.

And besides, in the south, I would think the cooler weather would make people WANT to go out. Not so hot and sticky.

[progressivebydesign]

2. But.. but.. 1 week of lower job claims signals recovery!!!

AP said so!!

[TahitiNut]

3. How about $2/gallon just to drive to the mall?

How about that "elastic" discretionary income that reaches the teenager's pocket?

[Palacsinta]

4. After we pay our health insurance.........

every month, there's NOT MUCH LEFT OVER!!

[xchrom]

6. yup -- i work retail

that's what july felt like where i work.
some fuckin recovery.

[2Design]

7. Housing over price was fueling the economy not jobs....

this is why we are in bigger trouble than any of the know it alls are willing to look at... they have there focus so narrow they can't see the big picture...

when people are making money by flipping properties or taking home equity loans on their homes because realtors have gotten the properties appraised high.....we are in trouble....people didn't get the money from jobs or pay raises....

the rich who got money from tax cuts just invested in driving up homes prices or stock market...because they don't need to buy anything...

so the money is dried up now....no more home equity....no more sales of goods...and when price of homes turns and goes down....we will be in a heap of trouble.....

spending will continue to slow....the money is gone...those out of work are maxing out their credit cards in hopes of finding work......it is a vicious cycle...