August 8, 2008 —USA Today, "July sales flat as school shopping season starts"
With higher gas prices, July same-store sales appeared to enjoy less of a boost from tax rebates, as more shoppers used rebates for food and gas than they did this spring, TNS Retail Forward says. “The summer spike in fuel and food prices is causing shoppers to pare back their plans for tax rebates and back-to-school spending,” says Frank Badillo, senior economist at TNS Retail Forward. “That’s clearly squeezing spending on retail goods other than food and gas.”
August 7, 2008 —BusinessWeek, "Retailers Pull Back, at a Cost"
“In an economic downturn everyone is in a cutback mode and they might be missing the few opportunities that present themselves,” says Frank Badillo, senior economist at TNS Retail Forward, a research firm.
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