Retail & Consumer Products Experts Find That Today’s Retail Spending Environment Still Lacks Vigor
WASHINGTON, Oct. 07, 2015 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today released its 2015 Holiday Retail Forecast, projecting a 3.9 percent increase in retail sales for the 2015 holiday season. FTI Consulting's Retail & Consumer Products practice expects slightly stronger results than the Company’s 2014 forecast, but weaker than last year’s 5.2 percent year-over-year increase in holiday sales.
In this year's forecast, the firm’s Retail & Consumer Products practice experts note that early coverage on the 2015 holiday season is neither encouraging nor discouraging. A late Labor Day this year means that analysts are still entrenched in analyzing back-to-school season sales data, with the consensus saying so far that the season was just ‘okay’. Additionally, seasonal hiring plans for the 2015 holiday are showing mixed results, but mostly in-line or less than last season’s hiring.
FTI Consulting’s experts also note that consumer confidence remains fairly high, but has backed off its post-recession peaks of mid-year when most confidence polls were at eight-year highs. Additionally, wage gains remain weak, having improved from low post-recession levels, but not nearly large enough to encourage robust spending.
“Despite the glimmer of hope the market had for the U.S. retail sector as we entered 2015, today’s retail environment still lacks vigor,” said Bob Duffy, Global Leader of FTI Consulting's Corporate Finance/Restructuring segment and the firm's Retail & Consumer Products practice. “Our 2015 holiday sales forecast is in line with a year of continued weak consumer spending.”
FTI Consulting will release its full 2015 Holiday Retail Report: Still No Urge To Splurge in November 2015.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,400 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.76 billion in revenues during fiscal year 2014. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
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