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Thursday, December 10, 2009

Retail Sales: "Looks like the middle of August out there"

by Calculated Risk on 12/10/2009 08:19:00 PM

November retail sales will be released tomorrow morning, but December is apparently off to a slow start ...

From the WSJ: Sales Lull Has Retailers Worried

The first week of December, typically a lackluster time in the wake of Black Friday, was particularly slow. ... "After solid traffic the first couple of days, it looks like the middle of August out there," said Stephen Baker, vice president of industry analysis for retail watcher NPD Group.
And on a key category: Videogames Sales Fall Again in November
Combined November videogame software and hardware revenue fell 7.6% from a year earlier to $2.69 billion, data tracker NPD said Thursday. But revenue from videogame sales fell a surprising 3.1% amid expectations of mild growth in the mid-single-digit percentage range.
Without growth in consumer spending, the recovery will be sluggish at best.