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Published on Wednesday, October 08, 2008
By LA Daily News Staff Writer
If the past few weeks of retail sales are any indication, it is shaping up to be, in the words of one analyst, a Christmas of movie tickets and board games.
Retail stores on Wednesday began to report September sales and most companies, from off-price to luxury chains, saw significant, sometimes double-digit declines, that surprised even the chains' executives.
September sales for stores open at least a year, known as same-store sales and a barometer of retail health, plunged 14.8 percent at Stein Mart, the troubled off-price department store. J.C. Penny's same-store sales fell 12.4 percent compared with a decrease of 3.7 percent for the same period a year ago. Dillard's sales dropped 12 percent. Nordstrom's same-store sales were down 9.6 percent. Sales at Kohl's decreased 5.5 percent. At Bon-Ton Stores, same-store sales decreased 4.6 percent compared with the period a year ago.
Blake W
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