Price cuts fail to lure shoppers
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Business & money: Official data reveals a worse-than-expected fall in retail sales last month
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The nation&#39;s merchants cut prices even deeper on Sunday, the day after Christmas, in hopes of squeezing more sales out of what&#39;s winding up to be an unimpressive holiday season.
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WASHINGTON -- Retail sales in August posted the weakest showing in two months as worried consumers curbed their spending habits.
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Despite signs of a poor Christmas for British retailers, the Bank of England will likely refrain on Thursday from cutting interest rates from the current level of 4.75 percent, analysts said.
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Merchants are slashing post-holiday prices even deeper, hoping to squeeze the last bit of sales from a shopping season that many retailers are finding unimpressive.
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Retail sales slowed last month, official data showed Thursday, as the country&#39;s wettest June on record kept consumers away from the highstreet.
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Retail sales rose less than forecast in February as cold weather kept shoppers home.
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Lately, the company's retail operation has been lagging behind sales of its locations.
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The holiday shopping season began with a surge in spending but consumers faded by the long Thanksgiving weekend's close and many retailers were facing decent but hardly impressive sales.
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They spent years drawing consumers into stores with highly publicized sales and markdowns. Now retailers and their vendors are struggling to convert sale shoppers to full-price buyers.
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As holiday shopping reaches the home stretch, consumers who are far removed from Madison Avenue and Rodeo Drive say they are holding down their spending.
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A surge in spending over the weekend may not have been enough to rescue Target, Sears Holdings and Macy's from the slowest holiday spending season in five years.
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Major U.S. retailers reported modest  gains in November sales on Thursday, as discounting lured  customers, but high energy prices and nagging concerns about a  soggy job market kept buying in check.
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The back-to-school shopping season was not a disaster, but the respectable, if lackluster performance of retailers may have been driven by discounts that obscure troubles ahead.
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NEW YORK -- The nation's consumers, uninspired by this season's fashions and rattled by high gas prices and the weak housing market, shopped gingerly last month, extending the misery of retailers who have struggled with a spending slowdown since February.
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The holiday shopping season began with a surge in spending, but consumers faded by the long Thanksgiving weekendâs close and many retailers were facing decent but hardly impressive sales.
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Will steep discounting save Christmas? Retailers, including Wal-Mart Stores (nyse: WMT - news - people ) Chief Executive Lee Scott, will be forced to slash prices this week to spur sales that got off to a weak start this holiday season.