March Retail Sales Show Surprise 1.1% Drop

Recession isn't over as far as consumers are concerned

(NEWSER) - If the recession is indeed waning, nobody told consumers. Retailers of every kind reported lousy sales for the quarter ended Aug. 1, the Wall Street Journal reports. Target’s same-store sales fell 6.2%, Home Depot’s dropped 9.1% and Saks’ plummeted a whopping 15.5%. And with unemployment, stagnant wages, and tight credit squeezing shoppers, executives don’t expect to see improvement until next spring. More»

In slump, simple pleasures are chic as traditional values gain

(NEWSER) - Reading about a Michigan family that shed modern excess in favor of a self-sufficient farm life didn't strike Peggy Noonan as shocking in these economic times. Her fellow New Yorkers have already begun responding to the same forces, causing Noonan to predict the rise of "a certain authenticity chic," she writes in the Wall Street Journal: More»

Stores launch summer promotions to snag holiday dollars early

(NEWSER) - It's beginning to look a lot like Christmas in malls across the country as stores angle for some extremely early holiday dollars, the Wall Street Journal reports. Retailers like Toys'R'US, Sears and Kmart have dragged Santa away from his summer break and launched July Christmas promotions, hoping to boost sales with a touch of festive spirit and help recession-hit consumers spread out their holiday spending. More»

(NEWSER) - Sears is taking the “Christmas in July” trope to a whole new level. With June retail sales tumbling, the company is looking for a boost by selling actual Christmas products, Time reports. Soon, 372 Sears stores will roll out displays hawking tree ornaments, stocking stuffers, and other decidedly off-season wares. Online, Kmart and Sears invites customers to “Shop Christmas Lane.” More»

(NEWSER) - Retailers are fighting to survive in 2009, some more successfully than others. Some 73,000 stores could close their doors by year’s end. Forbes breaks down which chains are shrinking the fastest:

• Ann Taylor: Catering to working women isn’t so great when unemployment’s at 8.1%. Expected sales drop: 17.3%
• Saks: November’s 70%-off sale didn’t help, and it’s already been forced to lay off 1100. Expected sales drop: 26.2%