Fourth-quarter retail earnings are expected to grow 13.5 percent. That's below last year's growth and could come down further if we see plenty of promotions.
The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,
Consumers really felt the pinch of higher gas prices and job growth is stagnant.
High energy prices coupled with uncertainty regarding future economic growth and the job situation appear to be disproportionately impacting low-end consumers and hurting sales.
The market is in terrible shape and the prospects for growth are not good,