Retail Sales Edged Up in December After Stores Cut Prices Sharply

Retailers salvaged December sales figures with deep discounts, but the results released yesterday could spell trouble for the coming year for both the industry and the economy at large. Sales at stores open at least a year at major retail chains rose 3.4 percent compared with December 2010, according to data compiled by Thomson Reuters, just above the 3.3 percent that analysts had expected.