Retail Sales, Retailer | featured news

Stocks are closing lower after a weak holiday shopping report sent shares of major retailers lower. The Dow Jones industrial average fell 24 points to close at 13,114 Wednesday. It was the third straight loss for the Dow.

Americans spent more online in November to start the holiday season and began to replace cars and rebuild in the Northeast after Superstorm Sandy.

Retail sales fell for a third straight month in June as demand slumped for everything from cars and electronics to building materials, a sign the economic recovery is flagging.

A healthier job market and warmer weather encouraged more Americans to shop in March.

Stocks climbed to new heights in part on rosy retail sales data, pushing the broad market to levels last seen in June 2008 and the Nasdaq composite index past the 3,000 milestone for the first time since 2000.

Retail sales recorded their largest gain in five months in February as Americans snapped up motor vehicles and bought a range of goods even as they paid more for gasoline, government data showed on Tuesday.

U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

When top retailers post their December sales this week, Wall Street analysts are expecting them to report a healthy end to the holiday season, helped by discounts, improved consumer sentiment and tactics like extended hours and layaways.

Growth in retail sales stalled in August after a pitched battle over spending in Congress led consumer confidence to crumble, data showed on Wednesday.

Deep discounts and the warmest July weather in decades should help retail chains report a rise in monthly sales, with many expecting warehouse clubs and high-end chains to lead the way.