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Moody's Global Credit Research5 page (2511 word) report
published Jun 13, 2008
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...As online sales rise by tens of billions of dollars each year and with most retailers facing softening comparable-store sales, retailers are increasingly looking to the Internet as a source of sustainable a nd sizable growth. As such, a retailer s Internet strategy has become even more crucial to its performance and a more important credit consideration as well. Though year over year double-digit sales growth in internet retailing has appeared dazzling to investors, when you consider Internet sales as a percentage of total retail sales, it s been a slow build off a low base. According to data compiled by the U.S. Census Bureau, Internet sales still a ccount for only about #% of overall retail sales. But in terms of ra w dollars, Internet retailing is beginning to live up to its promise. ...
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Moody's Global Credit ResearchMoody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.