BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise...

BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? U. S. retailers may see the worst sales growth this holiday season since 2002 as shoppers grapple with $3-a-gallon gasoline and consumer prices that rose the most in more than two years in November. Target Corp., Kohl's Corp. and J. C. Penney Co. have responded with discounts of 50 percent or more to lure customers. 'If the consumer doesn't have money and isn't buying, there's only so much the online channel can do,' said Larry Freed, chief executive officer of online research firm ForeSee Results Inc. in Michigan. 'To get a 25, 30 percent growth rate is going to be tough.' Retail sales increased 1.2 percent in November, the Commerce Department said in Washington yesterday. That followed a 0.2 percent increase in October, the agency said. Sales fell 2.7 percent in the seven days through Dec. 8, following a 4.4 percent decline a week earlier, Chicago-based research firm ShopperTrak RCT Corp. said this week. About 12 percent fewer shoppers visited stores last week compared with the same period a year ago, ShopperTrak said. Stores may further reduce prices, hurting profit margins, to lure bargain hunters. Target, the second-largest U. S. discount chain, and J. C. Penney, the nation's third-biggest department-store company, missed analysts' sales estimates for November. CompUSA, the 23-year-old computer retailer, said Dec. 7 it will shut down after the holidays. Office Depot Inc., the world's second-largest office - supplies chain, forecast 'continued erosion' of sales and earnings in the fourth quarter because of declining demand from corporate customers. Oh here it is: Ellen Davis, senior director of the National Retail Federation, says 'U. S. Holiday sales are 'recession proof'.' The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.