July Sales: So Long, Stimulus Gains | Retail Industry Blog | BNET

Description

The news: It’s official: stimulus checks have been spent and it’s back to zero, or less than zero, for America’s retailers and their impecunious customers.That $150 billion in government checks stanched the bleeding in May and June, but July retail sales show that shoppers are now holding on to what cash they have. “They’re spent out and this is causing a problem at retail,” retail consultant Howard Davidowitz told NPR’s Morning Edition.

Original URL

http://industry.bnet.com/retail/2008/08/07/july-sales-so-long-stimulus-gains/

http://industry.bnet.com/retail/2008/08/07/july-sales-so-long-stimulus-gains/