Natl. Retail Fed: Holiday Sales Will Fall

The National Retail Federation has issued a prediction that may not come as a surprise to many struggling retailers and cash-strapped consumers: holiday retail industry sales will decline this year for a second year in a row. According to the NRF, consumer fears over job security and home values are the main forces that will drive down consumer spending this year.
The trade group’s forecast predicts that sales in the months of November and December will decline about 1 percent from 2008 to $437.6 billion, which would still be a significant improvement over last year’s decline of 3.4 percent. However, these …read more