Retailers, consumers and prices
Check out how it ain’t getting any better any time soon.
The latest evidence is a new survey by America’s Research Group that showed that nearly a third of U.S. households think it will be a year before their families are better off.
That might not seem like so many, until you see that another quarter think that it will take even longer.
“We’re looking at a retail meltdown much worse than anyone could have imagined six months ago,” said Britt Beemer, founder of America’s Research Group.
Half of the consumers said their shopping budgets were significantly lowered from last year. And almost all of the rest said they were only the same.
More than half also said they had stopped using credit cards for purchases. And 47 percent said they would probably or definitely not buy something if it wasn’t on sale.
So, how’s that stimulus going?
Also in the basket:
Bon-Ton Stores swings to Q4 loss on charges
American Eagle meets Street view
Staples posts weak Q4, says will not give ’09 outlook
Tide, Woolite tout their fashion sense (WSJ)
Wal-Mart plans to market digital health records system (N.Y. Times)