A mild start to the winter season and modest holiday shopping led to disappointing results for U.S. retailers reporting December sales last week.
Overall same-store sales growth of 3.2% among 60 reporting retailers was lower than the 3.6% composite gain reported last December, according to Retail Forward, Columbus, Ohio.
The International Council of Shopping Centers, New York, reported an overall gain of 3.1% for December and 2.8% for the November-December holiday season. The ICSC index showed 3.6% December growth a year ago.
“Overall, this holiday season was a moderate one for retailers with some sectors performing stronger than others,” Michael Niemira, ICSC's director of research, said in a statement.
Luxury retailers such as jewelry stores, as well as the warehouse club Costco Wholesale, turned in relatively strong performances, analysts said. Costco, Issaquah, Wash., reported same-store sales gains of 9% during December.
