Wal-Mart Drags Retail Sales

NEW YORK CITY-Retailers’ same-store sales inched up 2.1% year over year in November after Wal-Mart’s discount stores turned in a 0.5% slide. Without the largest retailer in the world’s results, same-store sales of all other chains combined would have grown 4%, according to the International Council of Shopping Centers’ monthly sales report.

November’s results were the weakest increase the industry has seen since March, when same-store sales rose 2%. The results lagged due to: tough comparisons to last year when an abundance of purchases were made after hurricane season, mild weather that dropped apparel demand and lower gasoline prices that cut into wholesale clubs’ results.

Department stores were again a leading sector in the industry, gaining 4.6%. Federated Department Stores turned in the best results, with an 8.5% jump, while Nordstrom was up 5.4%. Dillards continued to struggle, dropping 3%.