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Holiday pessimism proves infectious
Apprehension regarding shoppers’ willingness to spend during the shortened holiday season has reached the point where even retailers presumably well positioned to benefit from frugality are sounding alarms.
The most recent is Ross Stores vice chairman and CEO Michael Balmuth who shared his concerns about the fourth quarter even as the operator of 1,154 stores reported third quarter sales that were in line with expectations and profits that exceeded guidance due to margin expansion.
