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Many retailers fall a bit short in December; Limited and Abercrombie shine in specialty sector
New York City -- After coming off a strong November, retailers found their momentum waned in December, with many turning in mixed sales for the month. Industry experts said sales were impacted by a still-cautious consumer and the blizzard the crippled the Northeast in the days immediately following Christmas.
Thomson Reuters, which tracks same-store sales for a group of 28 national chains, said total sales for the group were expected to post a 3.4% increase in same-store sales for December, following a 5.6% bump in November.
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White Christmas takes toll on Dec. dept. store sales
NEW YORK -- On the heels of a strong November, some department store retailers reported surprisingly weak December revenue. Results were impacted by a blizzard in the Northeast, which took a bite out of sales after Christmas.
The results raised some worries that the holiday season might be less stellar than some had hoped. Still, much of Wall Street still predicts that November and December spending will show the largest annual increase since 2006.