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October 13th, 2008
Posted: 02:17 PM ET
NEW YORK (CNNMoney.com) — The credit market freeze has added to an incredibly tough sales year for U.S. retailers, and analysts warn that these challenges are just the beginning of what could be a brutal 2009 for merchants. “The worst is yet to come,” said Howard Davidowitz, chairman of Davidowitz & Associates Inc., a retail consulting and investment banking firm. “We’ll see some tried and true [retail] names disappear,” said Marti Kopacz, managing principal with corporate advisory and restructuring firm Grant Thornton. Last month’s sales at stores open at least a year, which is a key measure of a retailer’s performance known as same-store sales, rose just 0.8 percent, according to sales tracker Thomson Financial. Forecasts were for a 1.5 percent increase, according to Thomson. Analysts say same-store sales of 3 percent or higher typically reflect a healthy U.S. consumer. |
 
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