By  on December 22, 2008

The consumer credit bubble that helped Americans fill their closets over a prolonged buying spree and propelled unprecedented store openings is finally deflating — and bringing the fashion industry’s prospects down with it.

How many chains are ultimately impacted as shoppers once again become savers won’t start to come into focus until after the holiday season. But there is a consensus about one thing: 2009 won’t see any consumer spending sprees, and retailers will have to adjust pricing and inventories accordingly.

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