Consumer debt, and not just wicked winter weather, is having a chilling effect on retail sales. Consumer debt rose by $241 billion in the fourth quarter of 2013, the largest period increase seen since the fall of 2007, according to a recent study by the Federal Reserve Bank of New York.

At the same time consumers were taking on more debt, retailers from Abercrombie and Fitch to Wal-Mart reported lackluster sales largely blamed on inclement weather and deflationary margins.  Read more from this City Wire article from Kim Souza here.