January worst for retailers in last four decades

Almost after four decades the retailers had an unlikable January month.The increase in oil prices led to the increase in the price of gasoline and food. The status of economy made the shopper to keep their holiday gift cards to shop for basic items like food items and laundry then to the DVD’s and iPods.

The retailer surveyed by UBS-International Council of Shopping Centers had a low sales improvement of 0.5 % and the forecast was of 1.5 %.The survey was conducted on 43 retailers.