The economists are not ready to claim that we are in a recession but I think the consumer decided that awhile ago. In this morning's paper there was an announcement that two stores were closing in San Luis Obispo. Mervyns is a department store chain in that in between retail market between the K-marts and the Lord and Taylor world. The Mervyns in SLO opened 25 years ago. Mervyns is closing all of its stores. The second store to announce its closing is the Linens and Things at one of the new malls in SLO. SLO doesn't have a official mall. The closest one is in Santa Maria. The LNTs store opened about a year ago when the mall opened. The consumers came at the beginning but with the economic downturn, business has dried up.
There was another article about the current economic impact on the wineries in the area. They are seeing a decline in sales in both the tasting rooms and in the broader market but it's not as marked as one would expect. I guess people will keep drinking through a recession.
No comments:
Post a Comment