🎄 🎄 UBS analyst Jay Sole warns that the outlook for holiday sales is headed in the wrong direction. “We asked consumers about their Holiday season spending plans in July and September. The percentage of consumers who said they plan to spend less this Holiday season jumped 840 [basis points] sequentially, while the percentage who said they plan to spend more rose only 340 [basis points]. This 500 bps spread is the 2nd highest in 12 years”
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