NEW YORK (AP) -- The nation's retailers are reporting what are expected to be the weakest October sales in decades as an intensifying financial meltdown and mounting layoffs leave Americans too scared to shop.
As merchants report their dismal figures Thursday, better-than-expected sales results from Wal-Mart Stores Inc. was one of the few bright spots. The world's largest retailer has benefited from shoppers' focus on basics. But most other stores, particularly mall-based apparel stores, are reporting steep sales drops.
The sales are based on same-store sales, or sales at stores opened at least a year.
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