Retail sales fall again in January - Los Angeles Times
The retail industry has posted year-over-year sales declines every month starting in October, Niemira said.At the Glendale Galleria this week, Robert Cooke, 49, said he and his family had scaled back their expenses in recent months as they prepared to buy a house in Encino. These days, it's all about buying basics such as groceries and gasoline, he said.
"Everything is a deal right now, and we're still generally not buying," said Cooke, a high school principal. "Truly, if we don't need it right now, we're not buying it."
Retailers in all sectors suffered, though department stores and apparel chains fared the worst, according to Thomson Reuters' tally of 35 major chain stores. Results are based on sales at stores open at least a year, called same-store sales and considered a key indicator of retail health.
Luxury retailer Saks Inc. posted a huge 23.7% decrease, compared with a 4.1% year-over-year increase in January 2008. Sales at San Francisco-based