Retail Sales Decline in December, Sears and K-Mart to Close 120 Stores–Videos

Posted on January 12, 2012. Filed under: Blogroll, Communications, Economics, People, Resources | Tags: , , , , , |

Sears Announces Plan to Close Up to 120 Stores

U.S. Retail Sales Climb Less Than Expected 

Retail Sales Post Gain of 0.1% as Holiday Buying Fades

By: Reuters

“…Retail sales rose at the weakest pace in seven months in December as consumers pulled back late in the holiday shopping season, cutting purchases at department stores and spending less on electronic gadgets.

Total retail sales increased 0.1 percent after rising by an upwardly revised 0.4 percent in November, the Commerce Department said on Thursday.

Economists polled by Reuters had forecast retail sales climbing 0.3 percent last month.

The upward revision for November sales suggests consumers likely frontloaded their holiday shopping. The government had initially estimated retail sales gained 0.2 percent in November.

Spending at electronics and appliance stores fell 3.9 percent in December, while shopping at department stores slipped 0.2 percent.

Fueling the overall increase in retail sales during December, receipts for motor vehicles and parts increased 1.5 percent, adding to the prior month’s 0.9 percent gain.

Excluding autos, retail sales fell 0.2 percent, the first decline since May 2010. …”

http://www.cnbc.com/id/45970005

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