Reports from Ovetii state that amid housing concerns and credit worries, U.S. retailers could be heading for their worst holiday season in five years.
United States of America (Press Release) October 29, 2007 --
According to the National Retail Federation, the world's largest retail trade association, consumer confidence in September fell to its lowest level since November 2005.
U.S. Retailers may be forced to increase their discounts and promotions to drive traffic heading into the holiday season, when many make their biggest sales and profit for the year, analysts said.
The moderate consumer has also been impacted by a challenging economic environment.
A source claimed analysts at Ovetii are anticipating that U.S. retailers may slash their third-quarter profit forecast as they increase discounts in October, thereby impacting profit margins. This has resulted in European investments becoming more attractive.
U.S. Retailers may be forced to increase their discounts and promotions to drive traffic heading into the holiday season, when many make their biggest sales and profit for the year, analysts said.
The moderate consumer has also been impacted by a challenging economic environment.
A source claimed analysts at Ovetii are anticipating that U.S. retailers may slash their third-quarter profit forecast as they increase discounts in October, thereby impacting profit margins. This has resulted in European investments becoming more attractive.
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