December Sales Don’t Look So Hot

It probably doesn’t surprise many, but December same-store sales results that retailers are reporting this morning aren’t very uplifting so far. A quick scan of the damage looks like this: Kohl’s was down 11.4%, J. C. Penney dropped 7.5%, Limited Brands fell 8% and Zale Corp. dipped 9%.

In the case of J.C. Penney, a spokesman blames the results on a “challenging consumer environment” and a calendar shift, and other retailers with similar results are saying much of the same thing.

On a brighter note, Pier 1 Imports, which has had a rough go of it for quite a while now but is getting closer to profitability as of late, actually reported a 1.3% same-store sales gain. And Costco, which nearly always has strong results every month, posted a 7% gain.

Look for more detailed coverage on the retail page later this afternoon, after the International Council of Shopping Centers puts out its monthly sales report.

But in the meantime, how do you see the retail sales climate shaping up so far this year?

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