Weak Same-Store Sales in December
December same-store sales growth weakened to .2 percent from the prior month and from the prior year for about 50 retailers recently reporting monthly results, TNS Retail Forward reports.
December’s result is down from a 3.5 percent sales-weighted composite reported last month and down from the 3.2 percent composite reported in December of 2006.
“The retail numbers leave little doubt that shoppers are in belt-tightening mode,” said Frank Badillo, Senior Economist and Director of the Retail Forward KnowledgeBase. “No part of retail spending is immune right now. From stores to online retailers and lower income to higher income shoppers, there are signs of weakness that will persist into 2008.”