Retail outlets are facing a glooming economy as the holiday season rapidly approaches. Stores such as Macy's, Sacks, and JCPenny have all announced declining sales and expect an exceptionally slow holiday season. Consumers are being forced to spend more of their income on fuel and other essentials are left with less to spend on luxury goods.
Decreasing sales forces these retails to focus on minimization of cost. Macy's said this week that it was able to maintain cash flow that was "stronger than it expected at the start of the year, because of cost cutting and inventory management."
Other retailers must follow suit by cutting cost to try to salvage what is left of this years holiday surge.
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