13 Oct Not a Merry Christmas for Retail
According to a recent article in CNNMoney, “Retail Shakeout: The Worst Is Yet to Come,” this Christmas season is likely to be anything but merry for America’s retailers. Experts warn that the credit freeze combined with slumping sales – and a likely dismal Christmas season – will force out many more retailers in 2009.
Since over 50% of many retail businesses’ sales come over the Christmas season, the worsening economy, coupled with tight consumer and commercial credit, may result in Scrooge-like income figures, with bankruptcies and layoffs expected.
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