Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Slow Jan. Sales Worry Retailers

Wal-Mart misses January projections as recession concerns gain momentum

By Jim O'Neill, Newser User

Posted Feb 7, 2008 8:46 AM CST

(Newser) – Winter storms and lagging gift-card redemption iced Wal-Mart’s January same-store sales growth, the retailer said, raising concerns the US is in a recession, reports the Wall Street Journal. Wal-Mart expected 2% sales growth in stores open more than a year, but saw sales bump just 0.5%. Its 1.4% rise in same-store sales for the fiscal year was the lowest in 30 years.

Other retailers also reported sluggish January sales, and the International Council of Shopping Centers said it’s possible same-store sales could decline for the first time since 1969, when it started tracking those figures. Thompson Financial said only one-third of retailers hit January sales projections. Costco posted a 7% gain, including a 19% gain internationally due to a weak dollar.

Wal-mart announced January same-store sales were sluggish, failing to reach company growth projections. (Associated Press)

A sign stands in front of the Wal-Mart Stores Inc. headquarters in Bentonville, Ark., in this Friday, Oct. 5, 2007 file photo. (Associated Press)

The outside of a Wal-Mart store in Little Rock, Ark. is seen in this Dec. 26, 2007 file photo. (Associated Press)

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

(NEWSER) - Retailers’ same-store sales were flat in March, due in part to an early Easter, the Wall Street Journal reports. The Thomson Financial Same Store Sales Index, projected to sink 0.1%, fell 1.1%, excluding Wal-Mart. Shoppers weren’t ready to buy for spring on the heels of winter, store closings for the holiday reduced sales, and consumer sentiment his a five-year low amid still-rising fuel prices. More»

Recession Bites Into Apple

November sales down, stock falls

(NEWSER) - Even apparently recession-proof Apple is now beginning to show signs of strain, and some analysts are predicting a major slowdown for the computer giant next year, the Wall Street Journal reports. US sales of Macs last month declined 1% over a year ago, while PC sales rose 2%. One analyst cut his estimate for Apple's 2009 profit, warning of difficult times ahead. More»

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

(NEWSER) - November was the worst month for retail in a decade, reports the Financial Times, as stores from Macy's to Abercrombie & Fitch posted double-digit falls in sales. Mid-market stores like Target posted worse-than-expected numbers, while department stores crashed. But giant Wal-Mart, leading a small number of discounters, managed to avoid the gloom; the largest American retailer beat its own forecast with a 3.4% increase from last year. More»

Consumers Are Quickly Trading Down

Switch to cheaper goods is broadest since early '80s

(NEWSER) - As fuel prices and home foreclosures steadily rise, Americans are trading down in everything from automobiles to their lunch options. That's not unusual in an economic downturn, but the speed with which it's happening is, the Wall Street Journal reports. And the flight to the affordable and generic is affecting the broadest array of goods since the recession of the early 1980s. More»

Shops Shut as Wind Goes Out of Sales

Store closings rise along with gas prices, foreclosures

(NEWSER) - Soaring gas prices and a still-boiling housing crisis are taking their toll on America's smaller retailers, with store bankruptcies and vacancy rates rising steadily as customers avoid impulse-buys that once fueled the industry's rapid expansion, reports AP. Vacancies hover between 7% and 8%, up from 5% just six months ago—and some analysts predict rates as high as 12.5% by the end of 2008. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Slow Jan. Sales Worry Retailers

Wal-Mart misses January projections as recession concerns gain momentum

OTHER STORIES ON OUR RADAR

International Council of Shopping Centers • Costco • recession • retail sales • weak dollar • weakening economy • Walmart • January sales • same-store sales • sales projections

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

Recession Bites Into Apple

November sales down, stock falls

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

Consumers Are Quickly Trading Down

Switch to cheaper goods is broadest since early '80s

Shops Shut as Wind Goes Out of Sales

Store closings rise along with gas prices, foreclosures

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?

Slow Jan. Sales Worry Retailers

Wal-Mart misses January projections as recession concerns gain momentum

Bookmark & Share

OTHER STORIES ON OUR RADAR

International Council of Shopping Centers • Costco • recession • retail sales • weak dollar • weakening economy • Walmart • January sales • same-store sales • sales projections

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

March Retail Sales Fall Flat

Easter partly to blame as chains fall short of expectations

Recession Bites Into Apple

November sales down, stock falls

Retailers Post Worst Month This Decade

But Wal-Mart, other discounters profit from downturn

Consumers Are Quickly Trading Down

Switch to cheaper goods is broadest since early '80s

Shops Shut as Wind Goes Out of Sales

Store closings rise along with gas prices, foreclosures

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?