7 Worst-Performing Retail Sectors of 2008

Although retailing saw a surprising rise of 1 percent more sales than last year due to sales from retailers dumping inventory, retailers are still seeing tough economic times. How tough? Bloomberg reports today, “Retailers are nonetheless bracing for the first annual drop in sales in at least 14 years, according to the National Retail Federation.”

But who will be the hardest hit?

Sageworks Inc. gives us the answer. Sageworks, a provider of private company financial analyses, aggregates retail shop data from individual American and Canadian stores of some 1,600 unique industry codes. It provides business intelligence solutions to stores and chains that also gather unspecified, aggregate information. The company says the following are the seven worst performing retail sectors. Each is followed by the percentage of that sector's sales dip in 2008.

1. Automobile dealers: -11.77%

2. Furniture stores sales: -6.36%

3. Home furnishings stores sales: -5.93%

4. Other motor vehicle dealers sales: -5.08%

5. Building material and supplies dealers sales: -4.97%.

6. Clothing stores sales: -3.19%

7. Automotive parts, accessories and tire stores sales: -0.42%