Jeff Cormier News Today : Breaking News, Live Updates & Top Stories | Vimarsana

According to mastercard advisers spending pulse. Still that falls short of the 3. 9 increase forecast by the National Retailer federation. Terrell brown reports. Reporter retailers couldnt get americans to spend as much as they expected, so now Retail Stores are cutting prices even more. Even along chicagos exclusive michigan avenue, stores were offering 75 off. Retail analyst craig johnson. Retailers overshot the mark in terms of apparel supply. So theres an imbalance of supply in demand in apparel leading to all the dramatic promotions you see today. Reporter storms couldnt make up for the storms and two key shopping weekends and the lackluster economy. People arent buying as much. Why arent they buying as much . Because their incomes are very soft. Reporter average incomes grew 1. 1 between 2007 and 2012 but this year its up only 6 . A wild card is the projected 20 billion spent on gift cards. The value of the card is not recorded until theyre redeemed. Richard ortiz is the manager

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