Word: retailing
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...Another retail group, the International Council of Shopping Centers, reported on Tuesday that same-store sales in November and December may drop as much as 2%. That is more than the previously projected 1% decline and would make this the worst Christmas sales season since...
Amid the gravest economic and financial crisis in decades, the outlook for Christmas was never very bright. Some 54% of Americans polled by market-research firm TNS Retail Forward said they planned to spend less money on Christmas gifts this month than they did one year ago. The pullback is not just hitting middle market retailers, such as Dillards and Macys, but upscale stores like Saks Fifth Ave and Nordstrom as well. Saks, for example, saw same-stores sales decline 11.5% in the third quarter, followed by a 5.2% decrease in November...
...Frank Badillo, an economist at TNS Retail Forward, had projected December sales at some stores to rise slightly, by 1.5%, from the previous year. Now, he expects sales to rise only between .5% and 1%. "In some ways," he says, "the current situation is even worse than...
...Retail sales may be sluggish this holiday season, but aside from theft, there's at last one ultra-cheap way to put more presents under the tree. Organizers behind the massive online freebie network known as Freecycle.org say that they have noticed a surge in new users looking for hand-me-downs and raw materials being given away on the nonprofit site, which has more than 6 million members around the globe. "People used to ask others in the network for luxury items," such as laptops and other high-tech gadgets, says Michelle Martinez, a Freecycle volunteer who oversees...
...year-on-year in 2007, and a report by Jones Lang LaSalle Hotels, the hotel investment and advisory service provider, had predicted India would need to add 150,000 new rooms in the next four years to keep up with demand. Now, much like other formerly glowing sectors like retail and real estate, things are rapidly rolling downhill. "Things will slow down primarily due to three reasons," says Sudeep Jain of Jones Lang LaSalle Meghraj, "Due to the economic slowdown, demand has already dipped. The terror attacks led to bookings being cancelled. And due to the credit crunch, fewer deals...