Our "kickoff" of the holiday season was yesterday. We were open from 6am to midnight. It didn't go well and spells significant trouble for us this quarter - even worse than it's already been going.
Prices are incredibly deep discounted already. It's hightly unusual to see prices this low prior prior to the after Thanksgiving madness. I've already cut staffing by at least 25%. Unemployment here is double digit. I've never seen things look so bleak. Retail posted losses for October that have been the worst in 35 years.
We have a house we were unable to sell when we moved up here. We've been renting it with option to buy. Our tenant, who we were hopeing to have complete the sale early next year, is now unemployed. We've gotten no rent payment from them in 2 months - and still had a mortgage payment. That situation is giving us many sleepless nights and our options are grim.
Michigan has been in a one state recession for the past 8 years, and it's just getting worse. One reason I was incredibly surprised to see Governor Jennifer Granholm on Obama's financial team. She has helped run our state into the ground, caused many businesses to leave Michigan and our economy to collapse. I'm not sure I'd be listening intently to her economic advice.
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3 comments:
Hey, E, just out of curiosity...what is the name of your store?
Christina, I'm not allowed to post publically about work issues, so I can't name it here. It's a well known large national retailer -
Okay, thanks! Hope things are picking up at least a little bit.
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