UPDATE 1-European retail storm casts a shadow over U.S. holiday shopping [Reuters]
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Source: Reuters
European retail storm casts a shadow over U.S. holiday shopping | Reuters 6 Min Read NEW YORK (Reuters) - A slowdown in global consumer confidence threatens to overshadow the holiday shopping season in the United States, which despite a strong start is not immune to developments in Europe. Super Saturday, the last before Christmas and the biggest shopping day of the U.S. holiday season, is likely to bring in more than $26 billion in revenue, retail consultancy Customer Growth Partners (CGP) said, up from $24.5 billion a year ago. But shares in U.S. retailers including Amazon.com Inc ( AMZN.O ) were hit on Monday after a profit warning from British online fashion retailer ASOS ( ASOS.L ), showing that even previously high-flying, online-only retailers were vulnerable to deteriorating consumer sentiment. The U.S. Federal Reserve is expected to raise interest rates again on Wednesday and with European retailers reporting weaker sales and Chinese consumers holding back, there are conc
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