USA Today: Holiday sales fail to dazzle [View all]

[marmar]

Holiday retail sales appear on track to be somewhere between ho-ho-ho and ho-hum, raising the prospect that the economic expansion is still struggling to reach top form.

Some stores, including J. Crew and Bloomingdale's, were offering after-Christmas discounts of 75% or more, which were more reminiscent of the recession than a recovery.

Early and late in the season, shoppers seemed to ignore many of the lingering economic warning signs and spent like it was 2007 again. Yet, all that spending doesn't equal a blockbuster holiday season, some retail analysts say.

It's "a lot better than it was three or four years ago," says Chris Christopher, senior principal economist for IHS Global Insight. "It looks OK, but when you take price increases into account, it doesn't look too good." ..............(more)

The complete piece is at: http://www.usatoday.com/NEWS/usaedition/2011-12-27-afterxmas27_ST_U.htm