Getting your player ready...
NEW YORK — A U.S. retailer group cut its March sales estimate for a second time as shoppers concerned about job security and the worst housing slump in a quarter-century cut apparel spending.
Retail sales probably fell or were little changed in the month, down from last week’s prediction of 1 percent growth, the International Council of Shopping Centers and UBS Securities LLC said Tuesday. Sales at stores open at least a year rose 0.5 percent last week from a year earlier, the worst showing since April 2003.
An ICSC and UBS poll found 59 percent of consumers bought fewer or no spring clothing. Bloomberg News
