Research firm anticipates grim holiday sales this spring

LOS ANGELES Peter Cottontail may not have enough eggs in his basket as holiday expenditure is expected to decline 8%, according to an independent research firm.

Total sales from Easter clothing, candy, flowers, decorations, food and greeting cards are expected to fall from $14.8 billion in 2008 to $13.6 in 2009, IBISWorld reported Tuesday. The anticipated decline is indicative of the current financial climate.

Candy sales in particular are estimated to reach only $1.77 billion, down by 10.2% from Easter 2008. Interestingly, the forecast for candy sales could have been much worse had it not been for the holiday's calendar date.

"Easter falls on April 12, compared to March 23 of last year, so candy producers and marketers have 20 additional days to merchandise their products and entice the public to spend," said George Van Horn, senior analyst with IBISWorld. "This will cushion some of the inevitable blow on spending."