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About Those Dismal Same-Store Sales

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Apparently, Wal-Mart and Saks actually beat same-store sales expectations last month, but most retailers did not. Heard on the Runway reports: "U.S. retailers reported their worst same-store sales declines since at least 1969 for November as the only thing that appeared to work well was heavy discounting...Overall, same-store sales for November fell by 2.7% from last year, according to the International Council of Shopping Centers Inc.’s index of 37 stores, the biggest drop since 1969, the first year that the council began collecting data." [Heard on the Runway/WSJ]