There is “no silver bullet” to help improve retail performance, said Matthew Shay, president and CEO of the National Retail Federation, an industry trade group.
According to Shay, retailers remain constrained by both lower levels of consumer spending as well as a continuation in tight credit conditions.
With consumer spending accounting for about 70 percent of all economic activity, the retail industry accounts for about one in five U.S. Jobs, Shay said. That’s why banks should loosen up lending to qualified retailers that would like to expand their business. read more »