U.S. retailers reported extremely weak sales figures for December on Thursday as even Wal-Mart Stores, one of the healthiest retailers, finally showed the effects of the deteriorating economy. As the figures confirmed worries that the year-end holiday season was the weakest in four decades, the pessimism affected all areas of retail sales. The deep discounts that started well ahead of the official beginning of the holiday season caused several retailers to reduce their profit outlooks, fueling more concerns about the health of the industry. Most major retailers reported steep sales declines. But a big surprise was from Wal-Mart, which posted a smaller sales gain than Wall Street had expected and reduced its fourth-quarter profit outlook.
