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"
Investor Uprising Blog
Excerpt:
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.”
