Archive for January 15th, 2010

So Holiday Sales Weren’t So Good After All

The Fed came out with its numbers yesterday, and it turns out that holiday retail sales in December were disappointing, falling 0.3% from November. But the good news is that they rose 5.4% from December 2008.

Hit the hardest were businesses termed as “electronics and appliance” stores, which fell 2.6% month over month, while “general merchandise stores” decreased 0.8%. Apparel dropped 0.6%.

On a brighter note, “sporting goods, hobby, book and music stores” rose 1.6%, and “furniture and home furnishings stores” inched up 0.3%. Department stores were flat.

As this Washington Post article notes, in its December report, the Commerce Department revised November’s increase over October from 1.3% to 1.8%, so that contributed to last month’s lag.

In summary, it looks like sales were better from last year, but still far from “good.” Are we seeing a slow recovery, no recovery, or are these figures not very good indicators of what’s really happening in the industry?

ALSO: Zale’s Woes Are a Contrast to a Shining Tiffany.


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