Greater use of credit and less saving by consumers might make for happy holidays for U.S. retailers this year, but the good cheer isn’t likely to carry over into 2012.
Speaking at the WWD Summit Monday, Michael McNamara, vice president and global solutions leader of MasterCard Advisors, pointed out that retail sales have continued to grow on a year-over-year basis, but that second-half results have been marked by a deceleration. Including gasoline and groceries, October sales expanded about 5 percent, down from gains in the 8 percent range for most of the year.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)