Holiday Retail Sales Plummet Despite Price-Slashing
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Retail Sales, Retailers, Sales, Shopping, Spending, US Economy, US Shopping,
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Wall Street Journal:
Price-slashing failed to rescue a bleak holiday season for beleaguered retailers, as sales plunged across most categories on shrinking consumer spending, according to new data released Thursday.
Despite a flurry of last-minute shoppers lured by the deep discounts, total retail sales, excluding automobiles, fell over the year-earlier period by 5.5% in November and 8% in December through Christmas Eve, according to MasterCard Inc.'s SpendingPulse unit.
First Posted: 12-25-08 07:32 PM | Updated: 01-25-09 05:12 AM