Retailers around the country are pessimistic about the prospects of economic recovery and remain cautious about increasing staff levels and building inventory, according to a Forbes Insights study done in association with business lender CIT Group.
As the holiday shopping season approaches, middle market retail executives at companies with annual revenues ranging from $25 million to $1 billion expect sales to improve slightly from last year or stay about the same.
Sentiments were more pessimistic overall compared to the 2010 survey.
About a third of retailers think consumers’ overall access to credit will worsen in the next 12 months while 44 percent think there will be little change. Some retailers, about 22 percent, expect to increase credit lines for their customers while 17 percent think they will restrict credit lines.
As for their own lines of credit for their companies, nearly a third of retailers think their ability to secure financing has improved or significantly improved over the past year.
