Howard Davidowitz: Consumers In TERRIBLE Shape and “It’s Going to Get Worse” (Reprise)
By Aaron Task | Daily Ticker – 1 hour 31 minutes ago.. .
Weak data on November retail sales and an earnings miss from Best Buy on Tuesday poured ice-cold water on the whole “strong holiday shopping season” meme.
All the upbeat commentary about Black Friday, Cyber Monday and the like was always specious, according to Howard Davidowitz, CEO of Davidowitz and Associates. Like Barry Ritholtz, Davidowitz says Black Friday data, particularly, can’t be trusted and is annually hyped by the retail industry to encourage consumers to get out and spend