Retail Sales Weakened in November

Retail same-store sales excluding Walmart stayed positive, but weakened in November compared with October, Retail Forward reports. Most retailers reported strong results for the Black Friday weekend, but weaker results earlier in the month.

Sales-weighted same-store sales excluding Walmart weakened to a 0.9% gain in November for 31 retailers-most of them apparel retailers-reporting monthly results today. That was worse than the 2.3% gain last month, but better than the 7.7% decline in November of 2008 for the same composite measure calculated without Walmart.Including Walmart, same-store sales were down 2.5% in November of 2008.

Retailers said that warm November weather dampened sales of winter clothing, but that shoppers responded well to post-Thanksgiving promotions.

“Shoppers continue to give signs that they are ready to loosen the grip on their spending plans, but at the same time remain very cautious and deal-focused in their spending,” said Frank Badillo, senior economist at Retail Forward.

More info: www.retailforward.com