Dave Ramsey, an American financial author and radio host, recently made the following claim on his 6 December 2013 radio show (at 5 minutes into the show) when discussing holiday shopping in the United States (i.e. Black Friday through Christmas),
[retailers] make all of their money for the entire year in 45 days.
This statement was made in the context that shopper aren't good at controlling their impulses and marketers are very good at getting people to spend money since the holidays are when retailers make their profits for the year.
Is this statement in fact accurate in the sense that retailers either make all of their money for the year from holiday shopping or that they don't turn a profit until the holiday shopping season?