Nothing happy about the holidays for merchants
It's official: This was a rotten holiday season for retailers. AP in the Daily News.
A weak economy and strong winter storms brought total retail sales down between 5.5 percent and 8 percent from a year ago, according to preliminary data from SpendingPulse.
Many economists have predicted this would be the worst holiday season in decades as home prices plunged, unemployment rose and nervous consumers cut costs. Compounding retailers' problems were unexpected winter storms that snowed-in would-be shoppers everywhere from Seattle to Las Vegas to Boston.
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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.
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