Retail shares ended a two-day winning streak with a 2 percent decline Monday as a group of Citi analysts forecast a tough back-to-school season, although one with some potential upside.
Comparable-store sales at broadline retailers are forecast to fall 3 to 4 percent for August and September combined — a significant drop from the 0.9 percent b-t-s rise last year and the 10-year average increase of 4.3 percent, said Citi analyst Deborah Weinswig on a conference call with fellow Citi analysts Kimberly Greenberger and Kate McShane.
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