U.S. retailers are suffering through the slowest back-to-school shopping season since the recession ended in 2009, raising concern that Christmas will bring more of the same.
Spending in the period, which continues through the end of September, has risen 3.1 percent, missing a forecast for a 3.2 percent gain, according to research firm Customer Growth Partners LLC. That’s the smallest increase in more than five years.
Another ominous sign: Store traffic declined 4.2 percent in July and slipped an additional 4.7 percent in August, according to ShopperTrak, a Chicago-based research firm.
Read Wednesday’s Arkansas Democrat-Gazette for full details.