U.S. chain stores followed up a weak holiday season with an even weaker January, as sales are believed to have either stayed flat from last year or even dropped, according to statistics from the International Council of Shopping Centers, as reported by Dow Jones Newswires.
With inflation taken into account, the month would be the worst January for such stores since 1969, according to the ICSC. The group also said that discounters, such as Wal*Mart, should do well if a recession is indeed in progress, while higher-end retailers will suffer as customers save money.
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