by Calculated Risk on 1/02/2007 09:48:00 PM
Tuesday, January 02, 2007
December Retail Sales "Anemic"
From Bloomberg: December Sales Look Anemic, According To Analysts
When the numbers are all tallied on Thursday most industry analysts and experts think this year's holiday-shopping period will be "anemic" -- the description most often used -- because shoppers held off on buying winter gear, procrastinated on holiday gift shopping and have yet to turn in gift cards.Just a note - the Census Bureau will release advanced monthly retail sales for December on January 12th.
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The International Council of Shopping Centers is projecting that same-store sales, the industry's benchmark of growth measured by receipts rung up at stores open longer than a year, will rise at the low end of its 2.5% to 3.5% forecast.
Thomson Financial expects sales to rise 3% in December.
Wal-Mart Stores Inc. (WMT) , the world's largest retailer, said Saturday that its same-store sales are likely to be higher by 1.6%. That's above a flat to 1% rise the mass discounter forecast ahead of the month. However, it comes after Wal-Mart turned in its first sales decline in 10 years, down 0.1%, in November and may have come at the expense of profit margins.