More than a third (37%) of U.S. middle market retail executives expect stronger sales this holiday season, due in part to Black Friday and Cyber Monday, according to Burt Feinberg , Group Head of CIT Commercial & Industrial at CIT Group Inc, (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies. This topic is one of many discussed in the U.S. Retail Sector Outlook (cit.com/retailoutlook2012), the latest in a series of in-depth executive video Q&As featured in CIT’s Executive Insights video series (cit.com/executiveinsights).
Looking to the Future for RecoveryMiddle market executives surveyed believe the U.S. economy will not fully recover until 2013 or 2014. “There’s still high unemployment, and healthcare and energy costs are up,” says Feinberg. “Although our political landscape has been decided for the next four years, there are prevailing economic problems in Europe. There’s still a tremendous amount of uncertainty in the U.S. economy.” EDITOR’S NOTE Follow us on Twitter: @citgroup, on LinkedIn: LinkedIn.com/company/cit, on YouTube: YouTube.com/citgroupvideo, and on Facebook: facebook.com/citgroup. Individuals interested in receiving corporate news releases can register at cit.com/newsalerts or subscribe to the RSS feed at cit.com/rss. About CIT Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $33 billion in financing and leasing assets. A member of the Fortune 500, it provides financing and leasing capital to its small business and middle market clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and global vendor finance. CIT also operates CIT Bank (Member FDIC), BankOnCIT.com, its primary bank subsidiary, which offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com