Reginal Thomas
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Reginal Thomas in reginal thomas,

The Gap Between The Rich and Poor as Hit Retailers

There has always been a separation between the wealthy and the not so well off. For example a steak at Ruth Chris Steakhouse starts off at $80, while a steak at Applebees can run you $20. A guy like me making not enough money to proudly post in this post, will probably eat at Ruth Chris' a number of times in my life, while the rich guy might consider the steakhouse as part of his Sunday Funday rituals. 

Recent financial reports from retailers who cater to the middle to low income sectors of the economy came up short in their financial reports, companies such as Wal Mart, The Gap, Macy and even McDonald's have all seen sales slip in their most recent quarterly reports. On the flip side luxury retailers such as Bloomingdales which is owned by Macy's had strong results from its second quarter report. 

So what do we take from this? 

Clearly the wealthy are only getting richer while the regular guys is so damn broke even with more and more people getting jobs no one feels safe enough to buy anything. I still have people waiting to pay out on the I.O.U.'s I gave out last Christmas. To be honest I don't have a answer for this problem, but I can tell you this something has to change and soon cause if not it could spell a bigger storm for the country.