Retailers Hit Brakes on IT Spending
Anecdotal and quantified evidence is painting a picture that retailers are seriously cutting back on information technology budgets. A number of technology companies serving the industry have reported slower revenue and earnings growth while offering cautious predictions for upcoming quarters.
The most recent announcement came from the supply-chain software company, Retek. The company announced that it will not make its estimated numbers for the latest quarter, according to an article appearing on the Wall Street Technology web site.
Moderator’s Comment: Are retailers putting the brakes
on IT spending? Should they be?
Unrealistic expectations have brought unrealized goals
for many retailers. The obvious consequence is a pullback in IT spending. [George
Anderson – Moderator]