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Retail sales fared better than in U.S.

While U.S. retailers reported what some analysts called the worstholiday sales in four decades, some said they fared better in Canada.

While U.S. retailers reported what some analysts called the worst holiday sales in four decades, some said they fared better in Canada.

South of the border, a slew of American retailers issued profit warnings yesterday after reporting sharply lower same-store sales for December that could have repercussions for Canadian subsidiaries of chains, experts said.

An executive at RioCan Real Estate Investment Trust, a major Canadian retail landlord, said sales were down anywhere from three to 10 per cent on a same-store basis. These numbers are considered a key indicator of retail performance because they compare sales at stores open since this time last year.

 
 
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