US retailers hope Santa can bring them some festive cheer

Some people like to joke about lifting their spirits with "retail therapy". Many retailers, however, need therapy themselves.

After a brutal 2008 capped by a crummy Christmas, retailers are wishing for a good holiday selling season. So far, Christmas 2009 looks decent, but not great.

Meanwhile, in the stock market, investors have bid up retailing stocks in anticipation of an economic recovery. Apparel retailers are up about 70 percent this year, department stores have gained about 63 percent, and general merchandise retailers have risen 38 percent.