Marty Cantor, CPA and economic development consultant, joined Cheddar News to discuss the landscape of the retail industry. With cornerstone department stores like Bed, Bath and Beyond and Party City filing for bankruptcy, Cantor said "people are just running out of money." He said discretionary spending is halting as the cost of other goods and services increases, ultimately impacting the bottom line of major retail giants.
Supporting nonprofits on GivingTuesday this year could have a bigger impact than usual. Why? Because nonprofits and industry groups say donations so far are down compared with previous years.
