The retail industry is entering the holiday shopping season, when many companies record up to 40 percent of their annual revenue. The retail industry, excluding restaurants, could lose at least $25 billion in sales this week, estimates Burt Flickinger III, managing director of retail consultancy Strategic Resource Group.Even home improvement chains and grocers that will benefit from shoppers stocking up on emergency supplies before the hurricane and cleaning and repair items afterward could lose sales in the long run if overstretched consumers feel they must scale back.
Sandy Unlikely To Damage US Economy, Analysts Say
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts