Next reveals weak Christmas sales
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Fashion retailer warns of difficult year ahead, saying it is 'extremely cautious' on prospects
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Holiday sales are expected to rise at their slowest pace in five years as the weak housing market and a credit crunch temper consumer spending, the National Retail Federation said on Thursday.
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The stage has been set for another last-minute showdown between Christmas shoppers and store owners, who are coming off a disappointing weekend.
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Clothing retailer Next says like-for-like store sales have fallen and the chain does not expect sales growth in 2008.
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Business & money: Electrical goods retailer says annual profit will miss forecasts by as much as Â£50m after poor Christmas
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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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The nationâs retailers wrapped up the weakest sales year since 2002, according to a gloomy report that fanned fears of a recession.
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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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UK retail sales rose at their weakest pace in more than a year in December, according to an industry survey.
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Shoppers expecting big, across-the-board price cuts in the run-up to Christmas may be in for an unpleasant surprise.
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Weak home and hardware sales drive lower fourth-quarter profits.
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The January sales failed to help the UK High Street recover from a poor Christmas season, a survey by the British Retail Consortium finds.
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Retail sales fell unexpectedly in  December to close out the weakest year at the cash register  since 2002, data showed on Tuesday, the strongest signal yet  that the economy may be sliding into recession under the weight  of a housing and credit crisis.
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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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The High Street is hoping for a busy weekend amid disappointing Christmas sales so far.
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Metro AG, the world's third-largest retailer, Wednesday released disappointing full-year sales figures, dragged down by weak performance at the end of December.
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Major retailers on Thursday reported largely disappointing sales for the critical December shopping season, while a separate report showed new claims for jobless benefits fell unexpectedly, somewhat easing concerns of a weakening job market.