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The
company, which tracks large U.S. retailers and specialty stores,
also expects foot traffic to drop 8.1 percent during November
and December from a year ago.
However, shoppers are likely to spend slightly more on average
than a year earlier, during the most profitable season for
retailers. Some stores make about one-third of their annual
profits in the last two months of the year.
Last week, the National Retail Federation estimated a 3.7
percent rise in holiday sales, slightly less than last year, as
U.S. consumers remain concerned about a possible government
shutdown, slow job creation and income growth.
Analysts have also forecast slower retail growth this holiday
season, reflecting worries about turmoil in the financial
markets as well as the stagnant economy.
Market research firm NPD forecast that holiday shopping could
show the slowest year-on-year growth since 2009. Consulting firm
AlixPartners said it expected 2.8 percent to 3.4 percent growth,
down from 4.4 percent in the 2014 holiday season.
(Reporting by Nandita Bose in Chicago; Editing by Richard Chang)
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