The NRF forecasts that Holiday sales in the U.S. will moderately increase vs. last year and may exceed $1 TRILLION for the first time ever! On the plus side, GDP is up in the low-single digits, the Fed recently announced its 2nd interest rate cut this year, and inflation seems under control. On the other hand, the tariff wars continue, the geo-political environment is uncertain, one of the longest U.S. government shutdowns in history is into its fifth week, and the government has stopped reporting monthly U.S. labor rate numbers.
 
What does all this mean for consumer spending during the most consequential quarter of the year? Join TD Cowen’s talented Equity Research Team as they provide our RMS community with their view of Holiday ’25 sales.
 
TD Cowen will host our RMS Members for an in-person lunch on Friday, November 14 at their new offices at One Vanderbilt Ave. (adjacent to GCT) on the 20th Floor in Room 31 and also will broadcast a simulcast for any RMS Members (free) who cannot attend in person or Non-Members (for a  fee of $50.)
 
The TD Cowen team will address the following topics from their Wall Street perch:
 
What’s the overall outlook for Holiday ’25 sales compared to LY?
What sectors and product categories are expected to show increases or decreases over last year? What are the hot products this season?
How are online sales vs. in-store sales expected to perform this year vs. last year?
What companies/stocks are you recommending and why, as we move into the Holiday season?
 
To join the conversation, you must register on our RMS website. A Zoom link will be provided upon registration. RMS members can attend at no charge, and non-members can attend by paying our $50 non-member fee.