Retail stores reported 1.8% drop for the month of November. According to the article, "November is a crucial sales month for retailers since it marks the start of the important holiday shopping season. Combined sales for November and December can account for as much as 50% of merchants' annual profits and sales."
The 1.8% drop is misleading. The drop is probably higher, but because of how poorly stores have done the past two months November looks a little better comparatively.
1 comment:
Obviously, Retail stores are in turmoil due to the current financial situation. Not many people have disposable income lying around at this point. People are going to be tightening their belts when it comes to consumption for the holidays. This will be detrimental to the retailers because a huge portion of their profits are accrued during the holiday season.
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