People are finally waking up to the crummy experience Walmart gives its customers. There are better stores out there, and Walmart's going to be left in the dust.
I live in NJ, and Macy's, Bloomingdales, Neiman-Marcus, Nordstrom and even Kohls and Target have been heavily discounting (20 - 50%) for the last month. I don't think they are too confident.
I spoke to a manager of a REIT [SpecFi] that owns large mall properties. He stated traffic was strong, but at the expense of margins. Average selling prices are 10-15% lower than last year at this time while sales beat by 6%. Do the math, ppl.
