If you were looking for signs that the American consumer is reaching their limit, you might consider these three companies and how their sales are doing.
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And talking about margins – less than 20% of the population of America has a college degree – I would guess that the people shopping at Mission Valley and Fashion Valley are largely from this 20% or have access to the wallet of one of the 20%ers – ie, whether traffic at the mall is up or down, these malls aren’t representative of where 80% of Americans spend their money
