Worst holiday season in decades may be over, but retail weakness frozen with no thaw in sight
After the worst holiday season in 40 years, retailers face more sales declines in the months ahead as the recession deepens, job losses mount and consumers retrench further. Retail sales plunged 2.7 percent in December, a record sixth straight monthly fall, and the first annual drop on government records dating to 1992, the Commerce Department said Wednesday. Last month's weakness — more than double what economists had expected — has extended into the new year with... Full Story
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