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Article: NOT SO BAD IS GOOD; Consumers kept a tight hold on their wallets again in August, but the sales dips weren't as bad as many retailers and analysts had feared.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- September 4, 2009
- Author:
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Byline: STEVE ALEXANDER; STAFF WRITER
There was little agreement on retail sales in August, with some analysts applauding the month's sales declines as not so bad while others said it was a harbinger of a poor holiday season. "I think consumers are out of cash and aren't spending as much in stores," said Britt Beemer, chair of America's Research Group in Charleston, S.C. "They're only buying the items their kids had to have."
If numbers don't improve in the coming weeks, he predicts holiday sales will be down -- the first time in 30 years with two consecutive years of holiday sales declines.
Any national economic recovery will have to include ...