They say timing is everything.
So the fact that the stock market’s dramatic plunge comes just two months ahead of the holiday season—and after most retailers have already placed their orders—could put retailers in a position that’s most analogous to their dismal performance of 2008, said Steve Barr, U.S. retail and consumer sector leader at PwC.
That year, when economic woes weighed on the entirety of the holiday shopping season, the National Retail Federation reported that retail sales excluding autos, gas stations and restaurants fell 4.4 percent compared to the prior year.
“The worst thing for the retailers is something that happens immediately before the holiday season,” Barr said. “The timing here is that this has the potential to impact all of the major buying cycles.” …
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