Holiday Challenges Continue to Loom, Yet Kmart Adapts the Steidtmann Way
Not long ago, this blog was a bit critical of Deloitte and its chief economist Carl Steidtmann for a less than definitive holiday sales forecast, yet, it’s only fair to note how a statement of his delivered almost a year ago resonates today. Of course, we now have a more definitive statement about the holidays from the National Retail Federation. On Wednesday, the organization released its 2009 holiday forecast, projecting seasonal retail sales to decline one percent this year to $437.6 billion. The organization’s chief economist Rosalind Wells noted that, despite signs recovery had begun to take hold, worries about job security and housing values would suppress spending this holiday season. The NRF prediction contrasts with Deloitte’s for flat holiday…
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