Financial turmoil takes toll on September sales

By The Associated Press (AP) - WHAT'S UP: Retailers are expected to report dismal same-store sales figures on Wednesday, providing the first full gauge of consumer behavior since the financial meltdown began. The only bright spots will be discounters and wholesale clubs as customers focus on bare-bone essentials. WHAT DOES IT MEAN: With consumers cutting back even more, the outlook for the holiday season and for the industry is becoming darker. Michael P. Niemira, chief economist at the International Council of Shopping Centers, said the financial turmoil may lead him to reduce his holiday same-store sales... [read full story]