Retail still unsteady in January

Filed under: Daily News,Retail | Tags:

The Associated Press

NEW YORK – The nation’s retailers delivered more evidence of a stumbling economy, as merchants including Wal-Mart Stores Inc. reported weak January results, extending a malaise that has deepened since the holiday shopping season. The disappointing sales figures made it clear that consumers wrestling with high gas and food prices, a slumping housing market, an escalating credit crisis and a weakening job market retrenched further, buying mostly necessities, even when redeeming their holiday gift cards.