NEW YORK (Dow Jones)--National chain store sales fell 0.7% in the first five weeks of December versus the previous month, according to Redbook Research's latest indicator of U.S. national retail sales released Tuesday.
The drop in the index was compared to a targeted 0.8% drop.
The Johnson Redbook Index also showed seasonally adjusted sales in the period rose 1.3% compared with December 2006, relative to a target of a 1.2% gain.
Redbook said that on an unadjusted basis, sales in the week ended Jan. 5 were up 1% from the same week in 2006, following a 1.6% gain the prior week.
"Sales performance pulled back in the final week of December compared to the previous week," Redbook said. Heavy rain and flooding kept people at home on the west coast, though some discounters reported that consumption patterns had become more normal, with a focus on basic commodities.
In other words -- the holiday shopping season is not looking like it was very friendly to retailers.
