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.
