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.