Retailers Not Seeing Slowdown

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While forecasts of a double dip recession are a dime a dozen, companies like Macy's and Toys 'R' Us are gearing up for a strong holiday shopping season. A recent CNN article reports that Macy's is planning to hire 78,000 workers during the holiday season, a 4% increase from last year. Toys 'R' Us is also planning to hire 40,000 workers. As the co-founder of Staples said on CNBC on Monday, it seems companies are looking at sales reports, and ignoring pessimistic economic forecasts. We view these decisions by Macy's and Toys 'R' Us as another sign that the US is not slipping back into recession.

Posted on Wednesday, September 28, 2011 @ 10:54 AM

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