Search
 

Retail, Economy To Face Challenges Through 2010

NEW YORK CITY- The financial collapse has led to a major consumer attitude shift, that will result in a difficult 2009 and 2010, and a slow recovery in 2011.

By Debra Hazel | Updated on January 14, 2009

NEW YORK CITY-Forget about growth – just hang on to cash to get through 2009, said speakers at the National Retail Federation’s 99th Annual Convention, which concludes here today at the Javits Center.

The financial collapse has led to a major consumer attitude shift, that will result in a difficult 2009 and 2010 and a slow recovery in 2011, just in time for a major bout of inflation, speakers said in a wide-ranging discussion. Getting through this year will require conservative expenditures.

“You’ve got to survive,” said Peter J. Solomon , founder and chairman of the Peter J. Solomon Co., a New York City-based investment banking advisory firm. “For the next year, I’d just worry about cash.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.