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Another month, another sales disaster

Sales at leading chain stores were caught in a deep freeze in January as mounting concerns about job security kept more shoppers away from the mall.

With the exception of discounter Wal-Mart and a handful of specialty chains, other retailers suffered big declines in their January same-store sales reports unveiled Thursday.

Same-store sales, or sales at stores open at least a year, are a key indicator of a retailer’s overall health.

Sales tracker Thomson Reuters expects overall January same-store sales for a group of 35 retailers to fall 2.3%, compared to a slight gain of 0.4% logged a year ago.

If the results meet come in as expected, then January’s performance would be the weakest monthly sales performance since the firm first started tracking same-store sales estimates in 2000.

complete article @ CNNMoney

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