Circuit City filed Chapter 11

[mbbuchanan]

That sure is a lot of lost jobs, what a shame.I think this holiday season will be very telling as to where the economy is heading.I read today that two-thirds of the market is driven by consumer spending. Not being an expert I would guess that if retailers have a better than expected Christmas, then maybe it will be a sign of a turn-around not being to far-off.I just don't see how with so many people with no equity and credit so tight, that there will be a big splurge this year.

[Woochifer]

That sure is a lot of lost jobs, what a shame.I think this holiday season will be very telling as to where the economy is heading.I read today that two-thirds of the market is driven by consumer spending. Not being an expert I would guess that if retailers have a better than expected Christmas, then maybe it will be a sign of a turn-around not being to far-off.I just don't see how with so many people with no equity and credit so tight, that there will be a big splurge this year.

I don't see any chance of a better than expected holiday season -- retailers were placing their last round of holiday orders when the financial meltdown hit and they cut back big time. If year-to-year sales are flat, then having short supplies in stores might be enough to shore up retail prices.

But, given that retailers have already begun massive holiday discounting and doorbuster specials, seems that the early signs don't look good and they're bracing for the worst. And out here in Cali, this is all on top of the liquidation sales already underway at Circuit City (closing half of their Bay Area stores) and Mervyns (the venerable department store chain is going out of business).