Local Retailer Bucks National Sales Decline
Major retailers are reporting weak sales in November as a strong Thanksgiving weekend failed to to fully offset the slow start to the month caused by Superstorm Sandy.
Eighteen retailers, including Cincinnati-based Macy's, report sales through last Saturday are up 1.7 percent compared with the same period a year ago, according to the International Council of Shopping Centers. That's well below the anticipated forecast of a 5.5 percent gain. Columbus-based Limited brands reports a 5 percent gain, besting the 3 percent expected by analysts. The results are based on revenue at stores opened at least a year, considered a key indicator of a retailer's health. The holiday shopping period accounts for as much as 40 percent of retailers' annual sales.