Friday, May 23, 2014

The Economy - Retail Profits

Retail sales have had the worst miss in expectations in 13 years. Retailers missed profit estimates by 3.2% last quarter. Some are blaming the poor weather last quarter, but I think it's because the American consumer is finally reaching the end of their paychecks. I for one have less and less money at the end of the month thanks to higher taxes, fees, food prices, and gas prices that don't seem to come down. Expectations for this next quarter are for an increase of 8.6% because of pent up demand and improving economic conditions. I think that is way too high and would not be surprised if we have a huge miss next quarter.

What do you think?

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