June Retail Sales: Crappy is the new black

The June retail sales report came out this morning... Down 5% across the board from July 2008. I don't recall last year being spectacular but in comparison I guess it is. Now down 5% is the average, if you were the uber hip A&F down 5% would be awesome because the actual number for them was close to 25%. I guess the demand for $120 jeans and $40 t-shirts is drying up.

Don't worry we'll soon be comparing shitty months to shitty months soon enough. I'm thinking we do just a tad bit less crappy in the coming months, it's amazing what several trillion dollars can buy you. Maybe Nike should worry a little bit.....