Morgan Stanley: The Grinch Could Ruin Christmas for Most Retailers
Consumers may have extra money, but they're not spending it.
The Grinch that stole Christmas
Photographer: Bill Greenblatt/LiaisonThis article is for subscribers only.
Morgan Stanley analysts aren't predicting a lot of cheer for retailers this holiday season.
The bank sees holiday sales growth slowing this year despite an increase in the financial health of many consumers, according to analysts led by Kimberly Greenberger. In a note titled "The grinch could steal Christmas," they argue that while consumers will have plenty of extra pocket money this season, that won't necessarily translate into extra spending.