Through thick and thinner.
Saks Inc. and Wal-Mart may not be the best measure, but their sales do indicate spending patterns in limited segments of the economy.
Total revenue at U.S. Wal-Mart stores fell as fewer customers visited and spent less when they did. According to a Wal-Mart spokesperson: "are focusing on necessities and being practical in how they're spending their money,"
Saks Fifth Avenue reports their overall revenue rose 4%.They sold more at full price noting strong demand for jewelry, woman’s clothing and sportswear. A Saks spokesman remarked that “we feel much better about the overall tone of business”.
Saks does caution that the increase isn’t due to wealthy mindless spending but because:
stores are starting to hold the line on prices and inventory and train customers not to wait for a big sale.
What good tax cutting trickle down Republican wouldn’t see this as reaffirming anecdotal evidence, perhaps proof positive Bush’s tax cuts for the wealthy need to be extended or even made permanent? Why even the working poor (once known as the middle class) Wal-Mart shoppers are scrimping and saving in an admirable fashion. Attention shoppers boot-straps half off.
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