With the big year-end shopping holidays fast approaching, the credit market freeze couldn't come at a worse time for consumers, retailers and the broader economy.
"There's definite nervousness in the [retailing] industry," said Marshal Cohen, chief retail analyst with NPD Group.
"We've not even made it to Halloween and retailers are already talking about Christmas discounts," Cohen said.
Christmas is obviously a big deal to retailers, given that year-end holiday-related purchases typically account for half or more of merchants' annual sales and profits.
(Source: CNN)
