Got a buddy with a small restaurant in a non-tourist area and got some numbers from him today so I thought I would share to kind of give you an idea of what restaurants are doing in business right now since their dining rooms are all shut down and you can only take out. He got rid of 19 employees out of 26 leaving him with 7 to do take outs. Today he had to hire back an extra employee but they were busy enough he will have to hire one more. Sales are down 64% On a Friday he would make $5k in sales, tonight they did $1,800 in sales. He would normally have 14 people work on fridays, but had just 4 today, but they were overworked. So should things stay like this, he estimates his monthly sales will be about $35-$40k for the month which is enough to not lose money. I know it's anecdotal, but thought I would share some real world numbers of how an average small business restaurant business is doing in this economy. He was lucky though because he scaled back right away. If other businesses are being run just as well and scale back correctly, and don't have too high of fixed costs like rent, they should be ok. I'll try to keep this thread updated whenever he gives me some numbers so you can see if he's getting back to normal or not.
I do consulting for one of the top consumer goods companies in the world. you want anecdotes. Normal weekly order from Target is 7 million. These weeks been averaging 70 million. now imagine the surge in online shopping and entertainment can we say amzn and NFLx. all the capacity is still there. It IS more like a snow storm like Ben said.
Wow, that is really something. TGT was at $126 in Jan and $94 now. Might have to keep an eye on them and pick up some June calls closer to earnings.
if you check TGT daily chart, or any big names for that matter, since 2/27, for the past 4 weeks, my boys been able to push the price down while have all these intraday 'scooping' candles... intraday up to down ratio is like 2:1. this is a massive shake and scoop operation. a real bear market doesn't work like this... in a real bear my boys have to 'work' all these sell orders and usually it's a gap UP to attract innocent bulls then sell into them. in a few weeks, in hind sight it will be all crystal clear.... just right now with 24/7/360 doom media bombardment you see this overwhelming bearish sentiment. but that's what separates the masters from the minions.
been consulting for 22 years and counting - mostly in the consumer goods industry... I have worked for most of the top 5 consumer goods companies in the US... pretty much every time you go to a supermarket you buy something that has gone thru a supply chain that I have touched. now talk about changing people's lives.... a career like this is far more rewarding than looking at 1min chart all day long, even though at this point my gains from the portfolio is already bigger than my consulting fees. don't be jealous.... this is the USA, the land of opportunities.. I came here 28 years ago with 2 suitcases and $100 in my pocket... all it takes is a brain and a lot of hard work.
your tiny pea sized brain is filled with jealousy and there is no capacity left to do any real thinking.