We won’t be getting the actual reports from December for another couple of days but the early returns are suggesting that holiday retail sales declined from their disastrously low levels of last year:
The Washington-based National Retail Federation has predicted a 1 percent decline, to $437.6 billion, in November and December sales from a year earlier. The measure is based on U.S. Commerce Department retail sales data, excluding auto dealers, gas stations and restaurants. The NRF releases holiday results after the Commerce Department announces its December data on Jan. 14.
Retailers will report December sales — the period ending Jan. 2 — on Jan. 7.
Last year, holiday sales fell 3.4 percent, according to the NRF. The 2008 season was the worst since the ICSC started recording sales four decades ago.
It’s unclear how you make a recovery out of that. I have no doubt they’ll try. Let the spin begin!
I just listened to the Bears press conference as they justified retaining Lovie Smith.
It was as contorted and bizarre as I assume the retail stats explanations will be.
Or, as George Orwell penned: “less is more.”