MORGAN STANLEY: Here Comes The Worst Holiday Shopping Season Since 2008

Morgan Stanley makes a troubling prediction: the upcoming holiday shopping season will be the worst since 2008. In a new report — titled "Expect Coal: We Predict the Weakest Holiday Since 2008" — Morgan Stanley analysts Kimberly Greenberger, Scott Devitt, Ellen Zentner, and Jay Sole explain their forecast for a meager 1.6% increase in same-store sales at softline retailers in the fourth quarter. "We believe an uncertain U.S. macroeconomic backdrop, unfavorable calendar shifts, continued big ...