September 26, 2011
Ronald Friedman, Co-Leader, Retail/Consumer Products Industry Group, Quoted in the Investor Uprising Blog Article "Retailers Already Geared Up for the Holidays"
In the article, Mr. Friedman said shoppers are buying online more than ever before. Online sales are expected to improve at name retailers, such as Macy's (NYSE: M) and Nordstrom and other stores that have brands that people know. Shoppers that fled Nordstrom and Macy's for Wal-Mart Stores Inc. (NYSE: WMT) and Target (NYSE: TGT) in the thick of the recession will return to the department stores, he predicts. "There's a lot of pent up demand."
Additionally, Mr. Friedman said “Same-store sales (stores open more than a year) at retail chains have seen sales rise at an annual rate of 3% to 5% this year. That trend is expected to carry forward into the holiday shopping season.”