Recession fear looms large...

Yesterday we were shopping at Smithfield mall when we saw the all too familiar 'Going out of business' sale board at Linens n Things. This gave me creeps at first since they have been in business for quite some time and have seen the ups and downs over the years. That prompted me in checking out how the rest of retail business is faring this month and the figures were shocking to say the least! Gap has registered a 15% drop in sales, which can be well understood by visiting any of their outlets in Rhode Island. Macy's have registered a drop and the list goes on. My wife was telling me the other day that she wasnt seeing a decrease in the number of shoppers at the malls or the shops but what i actually feel is that the number of window shoppers have increased manifold. The store visit to actual buying ratio has dipped in this case. With the easing of gas prices over the course of the last 2 months and a hopeful second stimulus , i believe there will be more shoppers. But one giant still remains tall - Wal*Mart which reminds me of the fact that China is sweating it out!