Retailers, consumers and prices
Check Out Line: Less money for pencils and school books
Parents plan to spend less money on back-to-school gear for their children this year in another worrisome sign for retailers heading into what is normally their second biggest selling period behind Christmas.
The average family with children in kindergarten through 12th grade is expected to spend $548.72 on back-to-school merchandise this year, down 7.7 percent from 2008, according to the National Retail Federation.
Retailers can take some heart, however, as college students and their parents are expected to boost spending 3 percent to buy the latest pricey electronics and dorm-room decor. Of course, total college spending is expected to fall 4 percent as fewer attend college.
And there are some positive signs of a modest recovery.
Also in the basket:
Burger King Scraps Plans For $1 Burger (Wall Street Journal)
Dial-a-Mattress Retailer Blames Troubles on Stores, Executive Team (Wall Street Journal)