SmarTrend(R) News Watch: Retail Sales Come Up Short

Thu. December 04, 2008; Posted: 02:23 PM

Dec 04, 2008 (SmarTrend(R) News Watch via COMTEX) -- WMT | Quote | Chart | News | PowerRating -- Today, merchants announced their November sales figures, which despite a rise in shopping over the Thanksgiving holiday are the weakest they have been since 1969. Mass layoffs and worries over market conditions have contributed to a significant sales decline for many merchants, despite the surge that usually comes with the holiday season. Michael Niemira, chief economist at the International Council of Shopping Centers, has cut his estimates for the November-December shopping period, to reflect a combined decline of as much as 7.7 percent. Wal-Mart Stores Inc. (NYSE:WMT) avoided the trend, with sales that saw a 3.4 percent gain, surpassing analysts' expectations of 2.1 percent. Large retailers such as Macy's Inc. (NYSE:M), who reported a 13.3 percent drop in sales and Kohl's (NYSE:KSS) 17.5 percent drop, represent the majority of stores who suffered a worse than anticipated decline in sales.

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For full details on Kohl's Corp (KSS) click here. Kohl's Corp (KSS) has Short Term PowerRatings of 8. Details on Kohl's Corp (KSS) Short Term PowerRatings is available at This Link.

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