Retail Sales Continue to Underwhelm

By Marcus Gilmer in News on Dec 27, 2008 3:30PM

Early indications are that the economy will continue to put a crimp in retail sales including the coveted after-Christmas sales.

Though many retailers opened before dawn and advertised bargains aggressively, malls appeared relatively quiet Friday. The number of people visiting shopping centers declined an estimated 19 percent from the day after Christmas last year, according to NPD Group Inc., a Port Washington, N.Y.-based market research firm, based on visits to 26 malls nationwide....

As the worst holiday shopping season in decades comes to a close, it is becoming clear that even clearance sales aren't going to resurrect the season. In one of the first tallies to come in for the holiday shopping season, SpendingPulse estimated that retail sales, excluding gas and auto, were down 2 to 4 percent Nov. 1 through Dec. 24 from a year earlier.

That didn't, however, stop some shoppers from hitting the Mag Mile for some post-holiday deals.