Afternoon Coffee: The Showdown on the Shutdown; Toy Shoppers Feel Loss of Toys R Us

A partial government shutdown seems more likely as the Friday midnight deadline nears, Bloomberg News reports. President Donald Trump is trying to rally support for a $5 billion U.S.-Mexico border wall, but the votes in the Senate seems lacking. The president said Friday that if a shutdown happens, it may last a long time, Bloomberg reports. Spending measures are needed for nine departments, including Homeland Security, to avert a closing just before Christmas.

Retailers Try to Fill Toy Void

Shoppers and retailers are finding out what it’s like to not have Toys R Us around for last-minute Christmas shopping, The Wall Street Journal reports. The big-box toy store liquidated over the summer, so with 800 Toys R Us stores gone, shoppers have fewer options and less selection, the Journal reports. Other retailers have beefed up their supply of toys, but not to the extent that Toys R Us did, the Journal reports.

Economy Counts on Consumers

Federal data released Friday shows that consumer consumption in November rose more than expected, Bloomberg News reports. That’s about 70% of the economy. In the business area of the economy, business equipment orders fell in November, Bloomberg reports, which had this overall picture after several key indicators were released: “The economy is still expanding at a decent rate — albeit probably slower than the prior quarter — amid solid holiday shopping, a tight labor market that’s underpinning wages, and contained inflation. Even so, corporate America faces headwinds including the trade war with China, rising borrowing costs and a tax-cut boost that’s set to wane.”

Happy holidays!

And finally, a holiday update: Thank you for reading Afternoon Coffee every day at work. We enjoy bringing you news about the industry, but we’ll be on a holiday break Monday and Tuesday. Merry Christmas!

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.