TITLE

Holiday Season 'Like Nothing I've Seen'

AUTHOR(S)
Schachter, Ken
PUB. DATE
November 2008
SOURCE
Red Herring;11/12/2008, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents forecast on the sales of U.S. retail stores for the 2008 holiday season. C. Britt Beemer, chief executive of America's Research Group, said online retailers would be hurt by buyers' reluctance to pay shipping and handling fees, while computer sales both online and offline would be "dramatically impacted" as financing deals dry up. In November, big-box electronics retailer Best Buy lowered its revenue and earnings guidance because of uncertainty surrounding the "critical" holiday shopping season. In fiscal October, Best Buy reported a 7.8 percent decline in U.S. and a 6.4 percent decline in international comparable store sales. The company said comparable store sales for the November through February period could tumble by 5 percent to 15 percent.
ACCESSION #
36586151

 

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