Retailers Post Weak Sales In November
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From discounters to department stores, the nation&#39;s retailers reported bleak November sales yesterday, raising doubts about holiday sales prospects.
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(Detroit-AP) Dec. 2, 2004 - The nation&#39;s two largest automakers are reporting weak November sales and announcing plans to reduce production.
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An already weak holiday shopping season turned out to be even worse than expected for many of the nation's retailers, who reported Thursday they had sluggish sales results for December. The disappointing performance raised more concerns about consumer spending.
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Weak durable goods orders in November fueled concern on Thursday over the resilience of the U.S. economy to the country's steep housing slump.
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Given the importance of consumer spending in driving the U.S. economy, November's disappointing retail sales are a cause for concern.
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Wal-Mart Stores Inc., the No. 1 US retailer, on Thursday posted weak November sales and gave its lowest monthly forecast in 19 months for December as high oil prices crimp core lower-income consumers&#39; spending.
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Retail sales in December were unexpectedly weak with the three month figure at its lowest since November 2006.
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The holiday shopping season may not be so bad after all. Consumers came surging back into stores in November, revving retail sales at the fastest pace in four months.
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U.S. retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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Wal-Mart Stores estimated that November sales fell 0.1 percent at its stores in the United States that have been open for at least a year.
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The outlook for the holiday season dimmed yesterday as the nation's retailers reported disappointing sales for November following an uninspiring Thanksgiving weekend.
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UK retail sales fall for the second month in a row in November, the CBI says, but stores remain upbeat about Christmas.
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Stocks fell on Monday after Wal-Mart  Stores Inc. WMT.N recorded disappointing Thanksgiving sales,  hurting hopes for a strong holiday retail season.
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NEW YORK -- An already weak holiday shopping season turned out to be even worse than expected for many of the nation's retailers, who reported Thursday they had disappointing sales results for December. The poor performance raised more concerns about consumer spending, and in turn, the health of the...
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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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Sales at U.S. retailers fell 0.4 percent in December and were less vigorous in November than previously thought, according to a government report on Tuesday that implied costlier energy and slumping housing prices were taking a toll on consumers.
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Many U.S. retailers are expected to report disappointing December sales later this week, hurt by everything from the challenging economy to unfavorable weather to the calendar, which shifted more holiday sales to November.