But take heart. Sales may be down at places that cater to ordinary schmoes, but business is sunny at Saks, Nieman Marcus, and Nordstrom. Apparently shoppers at those places don’t have to worry so much about the home mortgage meltdown, rising gasoline prices, or the soft labor market.
And that’s not all. In other economic news, business is booming for boat moorings in Newport Harbor. So buck up!