Retail sales fell for a record third straight month in November. Over the last 40 years, holiday sales growth has never been negative, but it could take a holiday miracle to avoid that this year. Although consumer sentiment has increased slightly as gas prices have fallen and stock market volatility has lessened, consumers continue to pull back on spending. The next year or two are likely to pose substantial ongoing challenges for retailers, and some firms won't rise to the occasion. But those that take the appropriate actions may survive and find themselves well positioned to seize unique opportunities, emerging from these difficult times stronger than ever.