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Fitch Rating
Fitch: Weak Sales for U.S. Retailers in the Remainder of 2008
May 24th, 2008
Fitch Ratings expects that comparable store sales performance in the U.S. retail industry will remain weak for the remainder of 2008, particularly in the discretionary apparel and home products segments. Retail operators continue to face a challenging consumer environment characterized by higher energy and commodity costs, increased unemployment rates, falling real estate and stock prices, and declines in credit availability. 'Economic pressures have not abated, forcing many retailers to be more cautious in their outlooks for 2008,' said Karen Ghaffari, Managing Director, Fitch Ratings U.S. Retail Team. 'Companies are taking more defensive actions to preserve market...
Source: Law & Health Weekly (2008-05-24)
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