Retail Sales Fall

After the worst holiday season in 40 years, retailers face more sales declines in the months ahead as the recession deepens, job losses mount and consumers retrench further. Last month's weakness -- more than double what economists had expected -- has extended into the new year with bankruptcy filings, store closings and more layoffs.

Excluding autos, retail sales were down a record 3.1 percent in December, reflecting the widespread weakness in most other areas, led by the big plunge at gasoline stations. But even with gasoline sales removed, retail sales were down a sizable 1.4 percent in December.

From Big Picture: Retail Sales Fall 9.8%

• December 2008 Sales down 2.7% from November and down 9.8% percent versus December 2007, a record sixth straight monthly fall
  
• December 2008 Sales = $343.2 billion
• 2008 total sales (12 months of calendar year) were essentially flat — down 0.1% percent from 2007, less than the margin of error, first annual drop since record started in 1992.
  
• November sales were also revised lower. Ex-Autos, sales fell 3.1% for the month. Health and personal care were the sole growth areas. Going ex-autos and ex-gasoline, sales fell 1.5%.
• Total sales for the October through December 2008 holiday shopping period were down 7.7% from the same period a year ago.
• Gasoline stations sales were down 35.5% from December 2007, and off 15.9%;
• Auto sales were down 22.4% from last year.
• Sales were down 1.8% at furniture retailers; 2.5% at clothing stores; 1.0% at electronic stores; 2.2% at eating and drinking establishments; 0.4% at sporting goods, hobby and book stores; 1.3% at general merchandise stores; 1.4% at food and beverage stores; 2.9% at building material and garden supplies dealers; and 1.9% at mail order and Internet retailers.