As we approach the Christmas holiday the normally cheery faces of sales staff in department stores and specialty purveyors of winter woolies, are sobbing over the late-spring like temperatures across most of the nation. In New York the temperatures are predicted to approach 70 degrees causing most shoppers to pass-up on winter clothing gifts.
Racks and counters of cold weather gear are gathering dust and causing deep discounting when pricing is usually at a premium level. Lower on the anatomy, women's boots aren't selling according to the New York Times who reported sales off in NYC by more than 30% during the first two weeks of December. This is going to rock the retailers and create more headaches for mall owners who will see less rent and more "going out of business" reports for specialty retailers.
All of this comes at a time when online retailing is booming. Let's hope we don't have a cold spring! Happy Holidays to all!
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