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Winter Weather Crimps Winter Sales
Wal-Mart officially pounded the nail into the retail sales coffin this morning. It appears even bargain hunters are choosing to make do without anything less than a necessity.
The retail giant, which had benefited from the slowing consumer spending habits during this recession, announced disappointing December sales and lowered its quarterly outlook. "Severe winter weather" throughout the country didn't help, according to Wal-Mart's vice chairman, Eduardo Castro-Wright.
Making matters even worse, the dollar rebounded during December, which led to a 10 percent decline in the retailer's international sales.
Other retailers, including Macy's and Gap also lowered their outlooks.
However, there's one retailer that shining bright amid all the shopping doom: The Buckle (BKE). The teen retailer posted a 13.5 percent increase in comparable store sales during December, which marked its 17th consecutive month with double-digit sales growth.
Evidently neither rain, snow, sleet, nor hail can keep some fashion conscious teens from one store in the mall.
by Megan Barnett
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