Survey Details Holiday Belt-Tightening
Columbus, Ohio It appears consumers across the United States are tightening their belts this holiday season as over half (56.7%) of Americans say they will be spending less due to the economic environment, according to the American Pulse Survey of 4,348 respondents.
In addition, 51.2% say they will be looking for sales more than last year, while 31.8% are hoping to find deals online. Almost 20% of those with household incomes greater than $50,000 say the economy won’t affect their holiday shopping, compared to 12.8% of those with incomes less than $50,000 who say the same.
One in five (22.8%) Americans plan to brave the crowds on Black Friday to take advantage of deep discounts, but it doesn’t seem they will be taking up certain retailers’ offer to layaway purchases. Almost half (47.4%) say they are not at all likely to participate in a layaway program. Conversely, 9.4% are very likely to do so.
When it comes to retailers and their advertising, 87.9% of Americans feel it is proper for them to use the word “Christmas” in their ads. 65.3% prefer store employees greet them with a “Merry Christmas” while 27.4% think “Happy Holidays” is more appropriate when shopping.
Fisher resigns from Godinger
NEW YORK Mark Fisher has resigned as president and chief marketing officer of Godinger. He will become a partner at International Industrial Development Associates.
Fisher was with Godinger for 15 years, his tasks will be assumed internally.
Charming Shoppes posts better-than-expected 3Q loss
BENSALEM, Pa. Charming Shoppes reported a loss form continuing operations of $23.7 million of 21 cents per diluted share on a non-GAAP basis. The company had projected a diluted loss per share in the range of 35 cents to 37 cents.
Net sales from continuing operations for the thirteen weeks ended Nov. 1 decreased 8% to $553.1 million, compared to net sales from continuing operations of $599.7 million for the thirteen weeks ended Nov. 3, 2007.
Net sales for the company’s retail stores segment were $528.5 million during the quarter, a decrease of 10% compared to $588.1 million during the same period last year. Consolidated comparable-store sales for the company’s retail stores segment decreased 9% during the quarter. The decrease in consolidated comparable-store sales compares favorably to the company’s previous projection for sales declines in the low double digits.