US Retailers Brace for Weak School Shopping

Discussion in 'Wall St. News' started by ASusilovic, Aug 7, 2009.

  1. Retailers endured another tough month in July -- the worst since January -- as weaker consumer spending signaled a tough time for back-to-school sales, the second-biggest retail season after Christmas.

    Sales at stores open more than a year, a key indicator of retail health, fell 5.1%, according to a survey of 30 major retailers by Thomson Reuters Inc. The result doesn't include sales at industry giant Wal-Mart Stores Inc., which recently stopped releasing monthly figures.

    The dismal results are partly a reflection of buyers retrenching as unemployment rises, said retail experts. Many economists expect July's unemployment rate, due to be disclosed Friday, will hit 9.8%, up from 5.7% a year ago.
  2. jnorty


    if things so bad why are many retail stocks up 3-5 fold? crazy ass times
  3. Trade what's on your screen.