Retailers Are Now Blaming the Election for Poor Sales
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To hear retail executives tell it, the battle for the presidency between Republican Donald Trump and Democrat Hillary Clinton is causing Americans to put off buying everything from romance novels at Barnes & Noble and jeans from the Gap to burritos at Yum!
That explanation had some validity four years ago because the backdrop of the campaign was the so-called fiscal cliff that was due to usher in large tax increases and government spending cuts, says Ken Perkins, president of researcher Retail Metrics.
That just leaves people concerned about what's going on." Gap CEO Art Peck (Sept. 7): "The election here in the United States is a level of uncertainty that's probably unsettling consumers right now." Popeyes Louisiana Kitchen Inc. Chief Financial Officer Will Matt (Sept. 13): "We see gas prices being lower.
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