Morgan Stanley Forecasts Weak Retail Sales this Holiday Season
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Hemera/Thinkstock(NEW YORK) — This holiday shopping season could be the weakest one since 2008. That’s the gloomy forecast from the financial firm Morgan Stanley.
Consumer confidence has dropped recently. Morgan Stanley is forecasting an annual rise of just 1.7 percent in same-store sales.
But this contrasts with rosier forecasts from the International Council of Shopping Centers and the National Retail Federation.
Walmart, meanwhile, is getting an early start on the holidays, launching a series of deals on items such as TVs and tablets. Customers will be able to purchase the items online starting Friday.
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