Consumer spending drop impacts results
Continued from page 1 Among its other brands, Pappas said the company saw challenges in the quarter. “We saw a reduction in consumer discretionary spending,” Pappas said. “We attribute this to escalating gas prices, payroll taxes and [federal government] sequestration concerns. “This soft demand has been reported by other retailers as well,” Pappas added. “As the quarter progressed, it became clear these factors were having a measurable impact ...
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