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 The Commerce Department reported U.S. retail sales jumped 1% in January due to an uptick in after holiday season sales. This broke a six-month declining streak. Wall Street economists told Thomson Reuters they had forecast a drop of 0.8% in January sales.
But times are still tough for retailers, and many more face massive restructuring and even bankruptcy. Sageworks Inc., which does financial analysis of privately owned
companies, recently released a report on the the seven worst-performing retail sectors in 2008.
1: Automobile dealers: -11.77% 2. Furniture stores sales: -6.36% 3. Home furnishings stores sales: -5.93% 4. Other motor vehicle dealers sales: -5.08% 5. Building material and supplies dealers sales: -4.97%. 6. Clothing stores sales: -3.19% 7. Automotive parts, accessories and tire stores sales: -0.42% The Labor Department said 45,000 jobs were slashed last month in the retail industry, as reported on CNBC. The most recent layoffs in retail include Wal-Mart Stores Inc. and Nike Inc.- Maria Woehr CategoriesComments Deal Video
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Retailers still face big problems, especially around issues of liquidity. Check out this good analysis: http://commentsoncredit.blogspot.com/search/label/Liquidity