The AP reports that this holiday season may look a little empty.
Retailers last week gave muted holiday outlooks as they reported third-quarter earnings. Wal-Mart Stores Inc. and Kohl’s Corp. both said they plan to discount aggressively. J.C. Penney said it expects sales for the quarter that includes the holidays to fall.
According to a Gallup poll released Monday, Americans expect to spend $638 on Christmas gifts, equal to record-lows from November and December of 2008.
Michael P. Niemira, chief economist at the International Council of Shopping Centers, expects overall holiday sales will rise about 1 percent from last year, a historically weak performance.
Guess Santa also got laid off…Well, at least this means there will be killer sales. Bring it, economy! We will be ready with whatever it takes, including coupons and newspaper recycled wrapping paper. And if the government wants to send us a gift card or two, you know to get the economy going and stuff, our address is totally on Facebook.