Monday, November 29, 2004

The Rich Get Richer

And you know the rest of that old saying. Seems it's more true now than in many years. The weekend after Thanksgiving has traditionally been big for Christmas shoppers; many stores didn't move into profitability until after that weekend.

In the Bush economy, only some people are able to help move the economy along and it shows by which stores did well over the "Black Friday weekend." From this morning's Wall Street Journal:

Near-record crowds turned out for the holiday shopping season's Thanksgiving weekend kickoff, bringing with them unexpectedly robust sales gains to many malls and retail chains across the country.

Except, surprisingly, at Wal-Mart Stores Inc.


...J.C. Penney Co. and Sears, Roebuck & Co. also remained cautious about overall holiday sales, despite dazzling customer turnout.
But if you know where BushCo. has concentrated their tax cuts and their loopholes and their attention, you won't be surprised by the stores and the products that did well this past weekend.

High-end retailers continued their months-long streak of strong sales. Joanne Teichman, owner of Ylang-Ylang, a Dallas jewelry boutique, said Friday's sales were 20% ahead of the same day a year ago. "At the higher-end designer brands, there is no price resistance," she said.

At Saks Fifth Avenue, a unit of Saks Inc., demand was hot for brooches, fur-trimmed capes and mufflers and a Dolce & Gabbana snakeskin handbag and coordinating zodiac-sign buckle. The handbag and buckle sell separately for $1,095 and $480, respectively. "We're having real trouble keeping them in stock," said Ron Frasch, chief merchant. "We bought a lot of it, but we will definitely sell out."
Bush's rich business backers and their families will be having lavish Christmases this year, but all those red-state, rural, values voters will have to make do with less. And all of us Democrats, too.

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