Think about this. We are getting Wal-Mart (WMT) which is the mass retailer where everyone is shopping on a budget. They had horrible numbers.
Then you have probably the largest department store, Macy`s (M), which is, you know, not high end but higher end, kind of mid-market, nicer stuff, more expensive stuff than Wal-Mart (WMT). They had horrible numbers.
And then you have Neiman Marcus which is the high end, probably the biggest high end retailer in the country, they had horrible numbers too!
Its across the board weak, weak sales!
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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