Bad Holiday season for retailers?

Wal-Mart warns of a "tough" holiday season
Wal-Mart suddenly looked a bit less invincible in the face of a recession during an investor conference presentation, according to this blog post. John Fleming, the discount retailer's chief merchandising officer, said the holiday shopping season "is going to be tough, it is going to be late." The wallets of consumers "are challenged," he said. Then Wal-Mart announced a new round of price cuts. Los Angeles Times/Money & Company blog

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