Wal-Mart CEO: Expect a Late Christmas

By Rick R. on September 11, 2009 10:25 AM | | Comments (0)

Speaking yesterday at the 16th Goldman Sachs Annual Global Retailing Conference, Wal-Mart CEO Mike Duke predicted consumers will hold off their holiday spending as long as possible, researching potential purchases and comparison shopping to find the best prices, reports Media Post.

"People are putting a tremendous emphasis on shopping smarter -- I'm amazed at how many more people know the price of what they buy, right down to the penny," said Duke. "I don't believe this will change as the economy gets better. The deferral of purchases will be with us for a long, long time."

But with store inventories trimmed to the bone, late shoppers may come up empty-handed.

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