Despite all the good publicity around Small Business Saturday, sales have been shrinking for the smallest retailers while their larger competitors are seeing strong growth this year.
According to data from Sageworks, which provides financial analysis services to private companies, 2012 will be the worst sales year for privately held retailers with annual sales of below $1 million since 2009.
Those small retailers have posted a nearly 3 percent drop in sales year to date. Meanwhile, privately held retailers overall are seeing a nearly 6 percent increase in sales volume this year, and privately held retailers with annual sales of more than $10 million have seen a roughly 11 percent increase since last year. Sageworks data does not cover publicly traded companies such as Walmart, Kohl's or Target, but spans retailers from small Mom & Pops to privately-held chain stores.
Sageworks analyst Libby Bierman says the firm's data shows that the smallest retailers are seeing a setback after twoRead More »from Small retailers need a holiday boost, analyst says