GoneWithTheWind
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- 2003-06-24
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Late Shoppers Lift U.S. Sales to 4-Yr High
Thursday January 8, 5:14 pm ET
By Emily Kaiser
CHICAGO (Reuters) - A last-minute holiday shopping rush helped major U.S. retailers record their biggest December sales gain since 1999 on Thursday, but Wal-Mart Stores Inc. (NYSE:WMT - News) and others said that deep discounts eroded profits.
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Luxury stores once again outperformed the discounters, confirming ideas that a strengthening economy was a bigger boon for wealthier consumers than for lower-income families.
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Late Shoppers Lift U.S. Sales to 4-Yr High
Thursday January 8, 5:14 pm ET
By Emily Kaiser
CHICAGO (Reuters) - A last-minute holiday shopping rush helped major U.S. retailers record their biggest December sales gain since 1999 on Thursday, but Wal-Mart Stores Inc. (NYSE:WMT - News) and others said that deep discounts eroded profits.
ADVERTISEMENT
Luxury stores once again outperformed the discounters, confirming ideas that a strengthening economy was a bigger boon for wealthier consumers than for lower-income families.
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