Prom spending: In an easing economy, teens – or the parents stuck with the bill – are expected to spend more than $1,000 on average to get down in style.
J.C. Penney has pulled $850 million from its revolving credit line to be able to pay its vendors, increasingly skittish after J.C. Penney's failed attempts at a turnaround.
In last weekend before Christmas, traditionally a strong sales period, shoppers cite worries over taxes and so-so discounts as reasons to rein in spending. Experts warn of ho-hum holiday sales.
Consumer confidence remains at historically low levels, but retailers still expect a modest rise in holiday sales.