Early retail reports suggest sluggish November
Retailers reported sluggish sales results for November as a modestly positive start to the holiday shopping season wasn't strong enough to offset weak spending the rest of the month.
According to early results Thursday, stores including teen merchant Wet Seal Inc., Children's Place Retail Stores Inc. and discounter Fred's Inc., reported sales declines.
Warehouse club operator Costco Wholesale Corp. reported a gain, though it was smaller than expected.
Limited Brands Inc., which runs Victoria's Secret and Bath & Body Works, reported solid sales gains.
The figures were based on sales at stores open at least a year and are considered a key indicator of a retailers' health.