So much for those post-Thanksgiving sales:
The nation’s retailers had a disappointing start to the holiday season, reporting sluggish sales for November after a much hoped-for surge in Thanksgiving weekend business failed to materialize.
As merchants released their first solid results for the season on Thursday, the downbeat reports came from across the sector, including Wal-Mart Stores Inc., Limited Brands, Federated Department Stores Inc., Gap Inc., and Bombay Co. Upscale retailer Nordstrom Inc. and Neiman Marcus Group Inc., which have consistently surpassed Wall Street’s projections over the past year, had strong gains but still were below estimates
“This can’t bode well for the holiday season,” said Ken Perkins, an analyst at RetailMetrics Inc., a research firm based in Swampscott, Mass.