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Holiday sales can't match estimates in US.
January 3, 2013
By: TOM BRANNA
Editor
Holiday 2012 was ho-hum for retailers. Early results from individual retailers found a mixed bag of results. For example, while Macy’s posted gains of 4.1% and Gap sales rose 5%, others fell far short of that mark. The National Retail Federation had projected a 4.1% rise in 2012 to $586.1 billion in holiday sales. A complete picture is expected to come into focus in the next couple of weeks. Target Corp. said sales increased just 0.8%, The Buckle Inc. reported a 1% increase, Bon-Ton Stores rose 2.4% and Stage Stores increased 2.7%. However,Cato Corp.’s sales fell 7% and Wet Seal’s sales dropped 9.7%.
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