Summer looks like a washout for some retailers

As consumers get ready to celebrate July Fourth, many merchants already have dismissed summer as a washout. Bill Angrick, CEO of Liquidity Services, which auctions surplus goods to dollar stores and small resellers, said that in the past stores had usually held out hope for procrastinators and didn’t unload summer items until early August. But “there is no normal in this economic cycle,” so merchants are cutting their losses.

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