Monday, January 14, 2008

Consumer spending slowdown deepens (AP)



A shopper leaves a Tiffany & Co. store in San Jose, Calif., in this Aug. 29, 2007 file photo. Retail sales are expected to rise at the slowest pace in six years as shoppers worry about a slumping housing market and slower job growth, according to a Monday, Jan. 14, 2008 report from the world's largest retail trade organization.  Tiffany & Co. has cut its 2007 profit projection as it reported a 2 percent decline in same-store sales during the holiday period. (AP Photo/Paul Sakuma, file)AP - More evidence of a dramatic slowdown in consumer spending surfaced Monday, as Sears Holdings Corp. warned that a drop in sales would result in a profit shortfall and the world's largest retail trade group issued a downbeat sales forecast for 2008.




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