The dog days of summer lived up to their name at retail last month, further heightening the fears of analysts and investors about the holiday season ahead.
And while Wall Street expected a poor performance by retail in August, the financial markets recoiled at the news, sending the Dow Jones Industrial Average and the Standard & Poor’s Retail Index down more than 3 percent Thursday.
Despite falling oil prices and fresh fall merchandise, most retailers were scorched by their August results, with the majority reporting declines in comparable-store sales and none of the department stores tracked by WWD registering increases. In that sector, the high end got hammered...
August Retail Sales Fall Sharply
August Retail Sales Fall Sharply
by
Posted Thursday September 04, 2008
Last Edited Friday September 05, 2008
From WWD Issue 09/05/2008
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