real-time news and commentary for investors
Tuesday, Sep 17
Holiday sales seen slowing
- U.S. retail store sales are expected to slow to +2.4% during November and December from +3% last year and +4% in 2011, research firm ShopperTrak has estimated.
- Store visits are forecast to drop 1.4% after rising 2.5% in 2012.
- "Although the economy continues to recover slowly, consumers remain cautious about spending and are not ready to splurge," ShopperTrak founder Bill Martin said.
- It's worth noting that online sales - accounting for 7% of the total - aren't included in the projections, while ShopperTrak forecasts tend to undershoot.
- Related tickers: COST, WMT, SHLD, M, JCP, TGT, BBY, ODP, BBBY, SPLS, OMX.