NEW YORK (AP) — A Citi analyst said Monday that she expects this back-to-school season to be the softest since 2009, citing a lack of compelling fashion trends and the potential that consumers will stick to buying just the basics amid concerns about the broader economy.
In a note to investors, analyst Deborah Weinswig forecast sales at established stores to be flat to up 2 percent for the August-to-September period. Not including the 2009 season, Weinswig said that would make it the weakest season since 1997. The forecast is also well below the 10-year average of 4.4 percent growth, she said.
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