Store/Economy Update: What’s Going on in Your Store?

In January I sat and ran all the numbers—found out that we were up 20% for the month of December. I think it was a little larger than most stores because 08 was only our second Christmas (Charlotte store opened 07 October). For January 09 we were down 25%. Valentine’s turned out to be a bust…fortunately, after Valentine’s Day we sold a diamond and a few remounts for anniversaries. I’m hoping the next couple of days will turn out to be good. I have a bad feeling we are going to see many businesses close this summer and I don’t think things are going to pick up until the end of the year—I am hoping October but many of my friends are saying that is extremely optimistic. I have had more and more clients coming in and saying they lost their job, or their spouse is scared to loose their job, etc. My answer is, “Things are getting better we can already see a change.” But realistically I don’t think my clients believe me. Sometimes I find myself sitting in my office depressed when it’s a slow day—especially when it’s really cold and no one is out and about. I didn’t think it had hit Charlotte until January and February rolled around. The store is in a very affluent area and we sell med to high end goods—I have to say it’s been hard to maintain the price on the tag though—my first reply is, “What’s on the tag is the best I can do,” but if someone threatens to leave and I know they want it I’ve had to use the old I’ll split the tax with you…I hate it—but I’m trying to stay afloat. I’m holding on to what I can because I have a very bad feeling about this summer.

What are things like on the other side of the country?