U.S. apparel retailers are blaming a lackluster holiday season for what some are calling a modest December for sales.
RTTNews reported that despite deep discounts and promotions at some of the nation's most established retail stores, shoppers still chose to use discretion when it came to spending their money.
According to ShopperTrak, foot traffic at U.S. retailers fell 14.6 percent this holiday season compared with the prior year, the article said. Other factors contributing to the numbers included a late-month winter storm that thwarted last-minute shoppers, as well as one less shopping weekend between Thanksgiving and Christmas.
However, not all retailers saw a loss in revenue. L Brands, Inc., the operator of the Victoria's Secret and Bath & Body Works chains, said its December comparable store sales increased 2 percent, the article said, reflecting strength of its Victoria's Secret stores, despite weakness at La Senza stores, its Canadian lingerie franchise.
Still, L Brands' sales missed expectations for a 3.7 percent increase. Net sales were $2.10 billion, up from $1.95 billion last year.