Retailers report gloomy December sales
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Retailers posted mostly gloomy December sales results, as snow storms, discounts and economic uncertainty conspired to make the 2007 holiday shopping season the worst in 5 years.
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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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Marks & Spencer reports a poor performance over the Christmas trading period, with like-for-like sales down 5.6% on the year.
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Retailers say they're having trouble meeting this year's Christmas forecasts. Not online, though.
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German corporate morale deteriorated more than expected in December as firms took a dimmer view of current conditions, with retailers especially downbeat, a closely-watched survey showed on Wednesday.
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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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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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Drugstores reported unusually weak December sales on Thursday, weighed down by a slow flu season, lower-priced generic drugs and sluggish sales of seasonal items.
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Stocks tumbled after a weak sales estimate by Wal-Mart spurred concerns about the holiday shopping season.
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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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The nation's retailers delivered more evidence of a stumbling economy Thursday, as merchants including Wal-Mart Stores Inc. reported weak January results, extending a malaise that has deepened since the holiday shopping season.
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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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Christmas sales in Britain appear set this year for another bonanza, but fewer retailers are likely to share in it amid signs consumer spending is wavering, a study said.
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Business & money: Analysts forecast that Next will report a fall in like-for-like store sales in the run-up to Christmas
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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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The outlook for the holiday season dimmed yesterday as several of the nation&#39;s large retailers reported disappointing sales for November, which included an uninspiring Thanksgiving weekend, The Associated Press reports.
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Consumer spending, the critical bulwark that has kept the country out of a recession, is showing signs of cracking. Retail sales plunged by 0.4 percent last month as consumers battered by a sinking housing market, rising unemployment and the credit crunch, handed retailers their worst Christmas in five years.