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October 08, 2008
Specialty Retailers Report Big Drops In Sept.
Same-store sales at specialty and big box retailers dropped dramatically in September due to the economic slowdown. Neiman Marcus Stores and Bergdorf Goodman reported a decrease of 15.8%, while same-store sales at Saks dropped 10.9%.
Mass market merchants fared far better, with Target showing a decrease of just 3% and Wal-Mart showing an increase of 2.4%.
Most of the figures were collected before the financial tumult of the last two weeks, so signs point to an equally challenging October.
Posted by Blacks on October 8, 2008 10:15 AM
