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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Lizzie Tudor who wrote (76597)	12/26/2006 12:26:44 AM
From: CalculatedRisk	Read Replies (2) of 110194

Last-Minute Shopping Falls Short nytimes.com There is always next year. Shoppers swarmed discount stores and mobbed suburban malls over the crucial holiday weekend, but the final burst of buying is expected to fall short of retailers’ expectations. Visa USA, the credit card company, said yesterday that it would lower its closely watched forecast for holiday spending. Based on purchases by credit and debit card holders, Visa said sales rose 6.5 percent in November and December, compared with the same period last year, down from its initial forecast of a 7.5 percent gain. The company’s unexpected downward revision — and the millions of dollars in lost sales it represents — could have broad implications for the nation’s merchants, who count on purchases during the holiday season for nearly half of their business. <MORE>

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