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Is This Year's Holiday Shopping Season Doomed?

With haggard U.S. consumers not willing to spend this holiday season, is there anything to truly be merry about?

Fast Money welcomed Liz Claiborne CEO Bill McComb to the set to discuss his efforts to turn the company around and the outlook for the industry. With Claiborne down big today after slashing forecasts for a third time this year, McComb tells Fast Money just how big demand will have fallen both in his world and in the entire retail spectrum.

Watch the complete interview:






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On Nov 11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU) (BTU) (C) (GS) (INTC) (MSFT) (NUE), Pete Najarian Owns (AXP) Put Spread, Finerman's Firm Is Short (IJR) (IYR) (IWM) (MDY) (SPY) (USO) (BBT) (VNO) (COF), Finerman's Firm Owns (CSCO) (MSFT) (OIH Puts), Finerman's Firm Is Short (USO), Seymour Owns (AAPL) (BAC) (EEM) (F) (MER) (SBUX), Seygem Asset Management Owns (EWZ) (FXI), Jon Najarian Is Short (FSYS)