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IPFS News Link • Economy - Economics USA

Holiday Sales Drop to Force Bankruptcies, Closings (Update4)

U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years.

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Comment by Sharon Jarvis
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Interesting that the biggest drop in sales was women's clothing. I haven't bought any new clothing in two years, not since I spent $20 on a blouse that looked like a rag after only two washings. Unless you are paying an exorbitant price for top-of-the-line, everything else is crap. And since I can't afford expensive clothes, I buy at thrift shops. We are such a shopaholic nation that I find never-worn clothes with the tags still attached. For $6 I bought suede pants originally priced at $80. I found a $1975.00 dress--that's right, almost two thousand dollars--for $5. I buy most other things at yard sales. And now that everyone is going broke and selling off their belongings in order to pay bills, I recommend that we all go shopping in our neighbors' yards.