Poor December at Retailers; Most Report Drops in Sales
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The weakest holiday shopping season in five years ended dismally for most retailers, stoking fears that the economy is tipping into a recession.
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U.S. retailers on Thursday delivered  mixed sales results for December, the year's key shopping  month, with upscale stores faring well but many others slashing  prices, squeezing profits.
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U.S. shoppers came out in droves in  November, but warm and wet weather, combined with steep holiday  discounts, prompted less-than-stellar sales at many chains,  retailers said on Thursday.
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LONDON  - A sharp drop in spending by U.S. tourists contributed to one of the worst Christmas sales periods for London's retailers, an industry body said Monday.
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Top consumer electronics retailer Best Buy Co  on Friday posted slower growth in same-store sales for December as weaker consumer spending hurt television sales, and its shares fell more than 4 percent.
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Business & money: December sales fall 0.4% despite discounting, as housing demand also points to deepening slump
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U.S. retailers posted weak sales growth in December, as snow storms, discounts and economic uncertainty conspired to make the 2007 holiday shopping season the worst in 5 years.
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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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New single-family home sales fell 4.7 percent in December to its lowest rate in nearly 13 years while the median sales price dropped sharply and the inventory of unsold homes climbed, according to a government report on Monday that delivered more grim news for the battered housing sector.
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British retailers felt the pinch following the Christmas trading period as sales plunged by 1.8 percent in January, the biggest monthly fall in four years, official data has shown.
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Retail stocks fell on Wednesday as a lackluster holiday shopping season and shrinking U.S. factory production stoked fears of a recession, analysts said.
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NEW YORK (Billboard) - Just when it seemed erosion of music sales during the holiday season couldn't get worse, December snowstorms compounded the retail industry's misery.
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New single-family U.S. home sales fell 4.7 percent in December to the lowest rate in nearly 13 years while the median sales price dropped sharply according to a government report on Monday that delivered more grim news for the housing sector.
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Retailers may be in for a blue  Christmas this year as worries about soaring energy prices,  consumers' cost-consciousness and a warmer December than last  year make for lackluster holiday sales, retail analysts said.
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Analysts have offered their latest judgment of the Christmas shopping season: good, but not great.
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Sales of new single-family homes fell 4.7 percent in December while the median sales price fell 10.9 percent to $219,200 from November, according to a government report
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Major automakers reported lower U.S. sales for December led by a 9 percent slide at Ford Motor Co as the industry closed out its weakest year in over a decade and faced the prospect of deeper declines in 2008.