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ICSC Predicts Big Black Friday

NEW YORK CITY-Favorable weather will bring people to shopping centers, survey says.

By Ian Ritter | Updated on November 23, 2004

NEW YORK CITY-One in four people plan to shop on Black Friday this week, the day after Thanksgiving, according to survey conducted by the International Council of Shopping Centers and UBS. The figure is similar to what last year’s survey found.

Favorable weather should ensure that people will be out on Friday, the survey says. And though more than two-thirds of households have started their shopping, less than 5% are done, it found. The larger the household and the younger the family members, the more likely its members will shop on Black Friday, ICSC says.

“With only a few days left to the traditional start of the holiday season, retail sales continue to improve as consumers begin their holiday shopping,” says Michael Niemira, ICSC’s chief economist and director of research, in a statement. ICSC expects same-store sales to increase 3% to 4% over November and December. Same-store sales in October rose by 4.1%, ICSC found. The survey predicts that J.C. Penney will fare especially well, with a same-store sales jump of 12%.

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