Some Holiday Sales Reports May Decline
Tuesday, December 25th 2007, 7:43 pm
By: News On 6
NEW YORK (AP) -- Holiday sales reports aren't exactly showing good news. Target, the nation's number-two retailer, is warning that its sales may have fallen this month.
Target says it expects comparable store sales for the five weeks ending January 5th to be between a 1% and a 1% decrease, a shift from the 3% to 5% increase the chain had forecast for December.
Target says an increase in store traffic in the third week of the holiday season "was not sufficient to compensate for the unfavorable traffic trends that carried over into December."
Meanwhile, Costco's chief financial officer tells The Wall Street Journal that the retailer has had "pretty good" holiday-season results so far.