HOW ARE SALES FORECASTS HEADING INTO PRIME HOLIDAY SHOPPING SEASON?
Q: How are the sales forecasts holding up heading into the holiday season, given the fraught political environment and dramatic stock market swings?
Steve Pruitt: This does seem to be a time when a lot is happening externally, between the elections, wild fires, and stock market volatility. Looking at our October numbers, sales were still strong, with a majority of our menswear and women’s wear operations posting gain.
In early November, the numbers softened, which is typical during election weeks. But, for November and December overall, we are still forecasting single-digit growth.
The sales cycle has momentum behind it, and the strong economy and continued job growth points to a merry holiday season, for retailers and shoppers alike. The high demand for seasonal workers is another indicator that major retailers are expecting high demand in store, as well as online. Just make sure you have very little carryover into January, since we could see a slowdown next year.
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