Retailers’ Sales for September Only Reach 2005 Levels

[Amerigo Vespucci]

Source: The New York Times

On Thursday morning, some of the nation’s biggest retail chains posted September sales that were better than previous months, though that was largely because the stores had easier year-over-year comparisons. For the first time this year, retailers were comparing their sales to the abysmal numbers they began posting last fall, when the markets collapsed. Stores also benefited from a calendar shift that pushed Labor Day, as well as the usual back-to-school shopping rush, later in September.

Over all, for September, the retailing industry posted a 0.6 percent sales increase for stores open at least a year, according to Thomson Reuters. That figure is higher than analysts expected, and underscores that the rate of economic deceleration has stabilized. Several chains on Thursday also increased their earnings guidance.

Still, “you want to be careful how much you’re reading into the improved numbers,” said Michael McNamara, vice president for research and analysis at SpendingPulse, an information service by MasterCard Advisors that estimates sales for all forms of payment, including cash, checks and credit cards.

Stores are gearing up for the critical holiday shopping season, but most industry consultants and economists are predicting flat sales at best. The National Retail Federation, an industry group, is forecasting a 1 percent decrease in sales for November and December, well below the 10-year average of 3.39 percent holiday season growth.

Read more: http://www.nytimes.com/2009/10/09/business/09shop.html?hp

[Historic NY]

1. They should be happy...thats when things started going big time into..

the shitter.

[xchrom]

2. kick