Is Retail the Housing Bubble's Next Victim?

For already hurting retailers, the timing couldn't be worse as they gear up for the crucial -- and ever-longer -- back-to-school season, the second-most important annual shopping event for merchants after Christmas.

While the season has only just begun -- last year it stretched to the holidays, notes one analyst -- there is anecdotal evidence that some parents and their kids are spending less, while others are holding out for bargains for clothes, electronics and basic classroom supplies.

"All in all it will be a good year for back-to-school, not a stellar one," said Marshal Cohen, chief industry analyst at the NPD Group, a market research firm.

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