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December Retail Sales Ho Ho Hum

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By Barry Ritholtz - January 8th, 2009, 10:30AM

Quick overview of some of today’s December Retail data:

Wal-Mart cut fiscal Q4 earnings target about 10% from $1.03-07 to 91-94 cents

Costco posted a 4% drop in December same-store sales.

Family Dollar gained 8%; Same store sales gained 6%;

BJ’s Wholesale struggled in December, with 1.6% growth the lowest in a year.

Sears Holdings (the largest U.S. department-store) sales fell 7.3%

Target same-store sales fell 4.1%;

Macy’s December sales fell 4%;

Gap stores sales fell 14%;

Abercrombie & Fitch fell -24%;

Neiman Marcus reported a 28% drop off;

Limited Brands reported a 10% drop;

No real surprises in the group . . .

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Sources:
Retailers Have Not-So-Merry Holidays
KEVIN KINGSBURY
WSJ, JANUARY 8, 2009

http://online.wsj.com/article/SB123141458177764035.html

Wal-Mart Leads Retailers in Slashing Profit Forecasts
Heather Burke
Bloomberg, Jan. 8 2008

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNiimhS3eAcM&

PERMALINK
Category: Consumer Spending, Earnings, Economy, Retail.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “December Retail Sales Ho Ho Hum”

  1. Mr Beefy Says:
    January 8th, 2009 at 12:28 pm

    Family Dollar Rocks!!! :).

  2. ben22 Says:
    January 9th, 2009 at 8:29 am

    Didn’t aeropostale (sp??) have some pretty decent numbers. I noticed during the holiday that many people had large bags from that store and that the store was packed. I live in DE and they just so happen to sit right next to GAP in the mall here and the foot traffic difference in the stores was visible to anyone half paying attention.

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