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Retail Forecast Weakest in Five Years

Analysts expect retailers to have steep price cuts to attract customers.
NEW YORK, NEW YORK – Predictions from Morgan Stanley suggest sales growth during the last three months of 2013 are shaping to be the weakest since 2008.

The firm estimates same-store sales, which measure sales at store locations open at least one year, will grow 1.6% from the fourth quarter of 2012.

Sales in the fourth quarter of 2012 were up 3.5% from the same time in 2011.

Analysts say weak consumer confidence is the cause. Retailers are expected to roll out steep price reductions in response to attract more customers.
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