Thursday, January 08, 2009

Soak the Rich?

Looks like "the rich" may not be quite as 'soakable' as they used to be.

December sales reports:

Costco posted a 4% drop in December same-store sales.

Family Dollar gained 8%; Same store sales gained 6%;

Target same-store sales fell 4.1%;

Macy’s December sales fell 4%;
Gap stores sales fell 14%;

Abercrombie & Fitch fell -24%;

Neiman Marcus reported a 28% drop off...

That Madoff thing really hurts!

HT: Ritholtz

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