Holiday Retail Sales Were Weaker Than Expected; Late December Sale Prices May Hurt Fourth Quarter Retail Profits
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- Created: Thursday, 03 January 2013 20:18
Same-store sales for December 2011 were up 4.2%. This year, sales slowed during mid-month but picked back up toward the end. Only by then, significant markdowns reignited sales and that may hurt retailers’ earnings.
To recap a few of the major retailers' reports:
- Target reported flat sales
- Macy’s saw same-store sales increase by 4.1%, it’s fourth consecutive month of increases
- Kohl’s posted a 3.4% gain, better than the estimates for 1.2%
- Gap grew same-store sales by 5%
You can see more individual store results here.
