BofA-Merrill Analysts (Kind of) Hopeful About Holiday Season
Retail analysts at Bank of America-Merrill Lynch aren’t promising a great holiday season, but it should sure turn out a lot better than last year’s, they said during a recent holiday outlook conference call. The team is forecasting a same-store sales decline of between one percent and two percent for November and December, which is a marked improvement from last year’s eight-percent dive, but still in negative territory. Analysts picked the chains they see as winners during the holidays: AutoZone, because of its strong core business; BJ’s Wholesale, due to a increased at-home dining this year; and JCPenney, for learning from last year’s mistakes and slimming down its inventory. Other bright spots for the industry as a whole include improving…
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