Steady as she goes. That old nautical phrase—urging a firm hand on the wheel and an unwavering eye on the compass—seems especially apt for today’s retailers. The economic waters remain troubled as the nation emerges from a year in which business activity and consumer confidence fell short of the levels requisite for the best sales environment. At the same time, an improved economic forecast should guide retailers to greater profitability in 2014.
“The economy is on the verge of stronger growth, more jobs and lower unemployment,” says Sophia Koropeckyj, managing director of industry economics at Moody’s Analytics, a research firm based in West Chester, Pennsylvania. (economy.com).
After four years of recovery, Koropeckyj adds, the economy has made big strides. “Business balance sheets are as strong as they have ever been, the banking system is well-capitalized and households have significantly reduced their debt loads.”
Read the full article on the January 2014 Beauty Store Business Digital Edition!