The Grinch did not steal Christmas from retailers this season. After a dreadful holiday season in 2008, retailers reported a 2.9 percent increase in comparable stores sales for December 2009. The news is further evidence that a slow and gradual recovery in retail is firming as the economy gets back on its feet. When a large snowstorm battered the East Coast during the critical weekend before Christmas, the ever-resilient American consumer simply adapted by shopping online or storming the mall as soon as the storm passed. While the mostly positive numbers further dispel the notion that 'the consumer is dead' after a wild credit binge, the data does not indicate that the American consumer is back spending like a drunken sailor. The consumer continued to seek value in the past month and kept the registers ringing at TJX Companies and Kohl's. Sales at mid-priced department stores were subdued as J.C. Penney and Dillard's reported negative comps. In a surprise to many analysts, high end department stores such as Saks and Neiman reported solid comps and dramatic year-over-year improvements. Much of the improvement can be attributed to the favorable comparison from late 2008, where sales fell off a cliff and management scrambled to curtail inventory. While there is little economic news to compel anyone to rejoice, we can confidently report that rumors regarding the death of retail have been greatly exaggerated.