California Apparel News quoted Retail Group Co-Leader Ron Friedman in a year-end holiday shopping wrap-up.
California Apparel News
By Andrew Asch
However, political and macroeconomic concerns cast some clouds over the otherwise sunny holiday outlook and the future, said Ron Friedman, the partner in charge of retail and consumer products for Marcum LLP, an accounting firm with offices in Los Angeles. “I forecasted that this year was going to be a great year for retail,” Friedman said. “Unfortunately, I’m not as optimistic about next year. We have major concerns and hurdles to get over. There is uncertainty about tariffs with China. There is volatility with the stock market. The Federal Reserve’s potential increase in [interest] rates could slow down growth.”