Skip to main content

Thanksgiving turkey

Signs of the squeeze on the 99 percent:

Mr. Simon said Wal-Mart shoppers seemed especially worried about food prices — Wal-Mart’s food costs rose 4 percent over the last quarter, though it passed on “substantially less” to consumers via grocery prices.

“We hear from some shoppers that they believe it will be more difficult than ever to afford holiday meals for their families,” he said. “We understand their concern, and we see it every month in our customers’ purchasing behavior.”

Eating a huge holiday meal isn't necessarily the best for our health or our waistlines, but being forced to skip it for financial reasons isn't just skipping several hundred extra calories. It says that you can't fully participate in our culture, that abundance isn't available to you even a few special times a year. And the "traditional Thanksgiving dinner" will cost 13 percent more this year, driven especially by a 22 percent increase in turkey prices.

But the New York Times article detailing the food price concerns of Walmart shoppers offered the nauseating flip side:

At the other end of the retail spectrum, Saks said Tuesday that its revenue had risen 5 percent, to $692.3 million, from the same quarter a year ago. Its same-store sales, sales for stores open at least a year, rose 5.8 percent.

“Full-price selling is at record levels,” Mr. Sadove said. “We’re now in a less promotional environment than we were before the recession.” [...]

Some areas where Saks had placed big inventory bets, like shoes, turned out particularly well in the quarter, he said.

In the pumps and slingbacks section of the Saks website, there are more shoes priced over $1,000 than under $200.

Originally posted to Daily Kos Labor on Wed Nov 16, 2011 at 09:36 AM PST.

Also republished by ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement and Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site