Data Shows Sales Decline in Lead-Up to Christmas

NEW YORK -- Continued economic woes and wintry weather crimped sales at the nation's stores ahead of Christmas, and post-holiday sales were weak as well, according to data released Tuesday by the International Council of Shopping Centers.

For the week ended Saturday, same-store sales declined 1.5% from the prior week. On a year-over-year basis, same-store sales fell 1.8%, according to the association's weekly index, which tracks sales of about 40 retailers.

Same-store sales are sales at stores opened at least a year and are considered a key indicator of a retailer's health.

Holiday sales usually account for 30% to 50% of a retailer's annual revenue. This year, however, many retailers struggled during the season as layoffs, economic woes and poor weather had many Americans cutting back on their spending. ...