Retail Falls Short of Projections
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Best Buy customers snatched up $2,000 flat-screen TVs, Neiman Marcus shoppers made a run on $1,000 handbags and Costco members tracked down every last $100 cashmere sweater, but the luxury buying binge did not spare the retail industry a weaker-than-expected holiday shopping season.
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WASHINGTON -- After a big surge in spending in September, consumers may be getting a bit more cautious. The government said Friday that retail sales rose by just 0.2 percent last month.
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Retailers posted higher-than-expected sales in October, but the growth was uneven, favoring high-end stores over discounters and suggesting that lower-income consumers remain pinched by rising energy costs and sluggish wage growth.
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Malls were open around the clock and stores came through with huge discounts - but the last weekend before Christmas didn't do the trick, analysts said.
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Shares in a range of area retailers dipped Monday on disappointing Thanksgiving sales data from Wal-Mart Stores Inc. In addition, ShopperTrak, which tallies sales results from 30,000 stores nationwide, said
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Savvy investors can find retail bargains -- but not everything's on sale.
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Retailers are in for a gloomy holiday season, with shoppers weighed down by the weakening housing market and the credit crunch, according to industry forecasts.
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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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The 0.3 percent increase in retail sales was about half what had been expected. In another sign of weakness, industrial production in August edged up by just 0.2 percent.
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U.S. retailers release May same-store sales figures that show an improvement from the previous month, but with some weakness.
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The retailer increases sales and comps, but its stock price slips.
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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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Sorting the leaders from the laggards in the land of retail.
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The retailer narrows its focus, but its work isn't done.
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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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A string of government reports on  Thursday offered a mixed picture of the U.S. economy while  unexpectedly poor August sales at many major U.S. retailers  fanned fears about consumer spending.
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The nation's retailers slashed prices further Wednesday in hopes that a post-Christmas shopping rush will salvage holiday sales that, so far, have fallen below even modest expectations