Sales Sluggish in Second Week of Dec.
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U.S. retailers posted grim results in the second week of December, leaving them biting their nails and hoping consumers come rushing through the doors to make last-minute purchases in the final week before Christmas, according to two reports.
U.S. chain store sales slipped 0.5% during the week ended Saturday, the third straight week of declines, Bank of Tokyo-Mitsubishi and UBS Warburg reported in their Weekly Chain Store Sales Snapshot. Separately, the Redbook Retail Sales Average tumbled 4.6% in the two weeks ended Saturday, compared with the same period in November.
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