Economy
U.S. Retail Sales Plunge in December – Layoffs & Store Closures
WASHINGTON DC. For an economy in its sixth year of “recovery,” retail holiday sales came in the worst in four years.
“U.S. retailers posted their lowest holiday sales growth in four years after shoppers stayed at home despite some of the biggest discounts and promotions since the recession, retail industry tracker ShopperTrak said.”
— Source: Reuters
Sears saw a 9.2 percent decline in sales and K-Mart (owned by Sears) saw a 5.7 percent sales decline. Amazon reported…read more…