Retail group lowers forecast for all of 2014

`` "As of right now, there are no weather problems. We are entering the second-most significant selling period of the year -- back-to-school -- and how are we doing? Flat," Davidowitz said. "So what's the excuse for that? It's not snowing out there." The problem, Davidowitz, is that middle- and lower-income families have less money to spend and are under pressure. "They're spending less because they have less," he said. "When you've got the largest retailer in the world -- Walmart -- down five straight quarters, things are not good," he said.''