Where will government make up for the lost revenue? That's two today.
From JSOnline
From JSOnline
"Retailers expect holiday sales to drop
By Doris Hajewski of the Journal Sentinel
Oct. 6, 2009
The National Retail Federation, a trade group based in Washington, D.C., released its annual holiday sales forecast this morning, and it's not good. The foundation expects sales to decline by 1% to $437.6 billion during the holiday season.
The foundation points out that this would be better than last year, when sales during the holidays declined by 3.4%. For the full year, sales are expected to decrease by 3%.
Retailers have adjusted to the new economic reality and have pulled back on inventories. When compared with 2007, some major retailers have cut inventory by as much as 20%.
The foundation expects the season to be very promotional, with lots of discounting on popular categories such as clothing and electronics." Retailers expect holiday sales to drop - JSOnline
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