Retailers report dismal December sales

Consumer spending is 70% of the economy. Families are just trying to survive. Corporate earnings are going to be dreadful for 4th quarter 2008 and 1st quarter 2009-Lou

Retailers report dismal December sales as even Wal-Mart hurt by poor economy

Anne D'Innocenzio, AP

NEW YORK (AP) -- Retailers reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry, finally buckled under the pressures of the deteriorating economy.

As the figures confirmed fears that the holiday season was the weakest since at least 1969, the malaise cut through practically all areas from kitchen gadget stores to jewelry purveyors and teen apparel retailers.

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