Retailers are reporting that the back-to-school shopping season failed to deliver this year as it usually does. Discount retailers, such as Target, Aeropostale, TJ Maxx, and Kohl’s, seemed to fair better than mall-based brands. The numbers were far from rosy. Most stores reported slow sales. Upper-Tier stores, such as Abercrombie & Fitch, saw sales fall as much as 20% from last year. In addition luxury department stores continued to see their sales slide.
Analysts are blaming the slow sales on the economy and a late Labor Day holiday. Teenagers, who often earn most of their spending money during summer, suffered from a lack of summer jobs this year as the economy slowed. There is an indication that consumer spending will be slow to recover despite a rebounding economy. Many Americans have settled into more frugal lifestyles. Maybe this isn’t such a bad thing.
no comment untill now