Weak Holiday Results Feed Disappointment
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Stocks finished largely flat on news of weaker-than-expected retail sales and a jump in oil prices.
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Business & money: After a gloomy Christmas, retailers are pessimistic as debt-laden customers face reality
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The nationâs retailers had a disappointing start to the holiday season, reporting sluggish sales for November after a surge in Thanksgiving weekend business failed to materialize.
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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.
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The first Christmas shopping weekend of the year may have started with a bang, but it ended with a whimper, evidence from two groups that track sales showed on Tuesday.
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With a weak back-to-school season behind them, the nation's retailers are focused on the holidays and what steps they need to take to get consumers excited about shopping again. That could mean some quick merchandise changes and more aggressive discounting than they originally planned.
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Following a lukewarm shopping weekend, the nation's stores are now focusing their attention on the final week leading to Christmas, as consumers seem to be postponing more of their buying to the last minute compared to a year ago.
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Seasons greetings are near, but so far there's little cheer for U.S. retailers wishing for "must-have" apparel items to land on holiday shopping lists.
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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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For many small-business owners, the weeks after Christmas and New Yearâs are a time to recharge after the adrenaline rush of the holidays gives way to an emotional letdown.
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Uneasy about the economy and unimpressed by merchandise, American shoppers delivered the bleak holiday shopping season retailers had expected. Spending rose just 3.6 percent over 2006.
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Crucial US holiday sales launched with a flop, retailers reported.
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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.
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s the year stumbles toward its conclusion and critics begin penning their best-and-worst compendiums, here&#39;s a holiday contender fit for the all-time Naughty List.
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(CBS/AP) The start of the holiday season was respectable but unimpressive for many of the leading US retailers, with consumers jamming stores and malls on Friday and pulling back as the weekend wore on.
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Rising energy prices and slow job growth make buyers cautious as the nation heads into the holiday season.
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One less festive sign of the holiday season is the magnification of losses in some of the worst-performing stocks.