Jan 28, 2008

Apparel Recession? Maybe, Maybe NotBy Margaret BrennanCNBC.com

Even before consumers rang up the weakest Christmas in five years, retail shares were beaten down and plagued by worries of just how slow the American consumer will become in 2008.

That’s why it is ironic to see retailers in the green last week and at the beginning of this week. Will it last? As one of CNBC’s favorite traders and Wall Street veteran Art Cashin reminded readers in his newsletter this morning, “rallies in bear markets are short, sharp and die in low volume.”

Of course, whether or not these retail stock pops become sustained rallies is up to the whims of investors and the realities of how consumers shop over the next few months. Buckle up for same store sales on February 7th–ICSC is warning that this could be the weakest January in more than 23 years.

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