I have decided to short the s&p 500 as I think it has nowhere to go but down from here as the wealthy consumers which account for 40% of retail sales are pulling back in a big way as evidenced by Nordstrom Cabellas and now Tiffany do you disagree ?
Tiffany CEO Frederic Cumenal said in a statement. "In addition, we believe that volatile, uncertain economic and market conditions in the U.S. and other regions are affecting consumer spending, causing us to maintain a cautious near-term outlook."
Instead, net sales fell 2% to $938 million for the third quarter.
Sales at stores open at least a year — a figure often examined as a gauge of a retailer's health — fell 5% worldwide for the quarter
Also see Stage Stores SSI if you are still in doubt about this implosion in retail sales..
this mean do you think about the axp revenues for next quarter
see BONT KIRK to verify my statements.
see what they say about guidance for next qtr..
world and today the stock continues to fall to it's 52 weeklow (SPLS)
staples is the axp blue small business customer this is axp...
The size of the drop in these stocks is staggering !
what does this indicate about retail sales and AXP revenues going forward do you think ?
did you see JC Penney and Party City and el polo loco today ? You are poised to make 52 week low today and 60's coming you will see remember this stock used to be 35.00 per share and now without costco and the wealthy cutting back spending plus all the companies that don't want to pay the axp fees plus the high credit card fees are starting to sting the middle level card holders who get free cards from everyone else..
slashing their limits to nothing, closing their accounts, sending them stupid letters, zero discretion to switch it back up. and all this to costco members, probably the best clients on earth, and to people with perfect payment histories. for god's sake what a bunch of amateurish butchers.
Nordstrom is the POSTER child of the AXP Cardholder !
I expect to see new 52 week lows for AXP tomorrow and 60's to be tested !!
JWN look I dare you !
WFM this is a big american express customer favorite !
he wealthy are cutting back in a big way !
Also Noodles Restaurants joins the parade of eateries tanking (NDLS WFM)
Take a look if you want to see what it looks like !