Last-Minute Shoppers Unlikely to Save Retailers

Updated from 7:07 a.m. EST

Sales are up this year, but retailers still might not have a happy holiday season.

With just three days before Christmas, time is running out for retailers such as Target (TGT Quote), Wal-Mart (WMT Quote) and Best Buy (BBY Quote) to make up for slower-than-expected December sales. With myriad factors weighing on retailers, some analysts doubt even the expected final shopping spree before Christmas will salvage the month.

"It's not going to happen," warned Richard Hastings, chief economist and retail analyst at credit firm Bernard Sands. "I don't expect to see any positive reversal to the weak holiday selling season." ...