ICSC still predicts that overall holiday sales will improve by 3% to 4% over last year, though holiday sales so far are not as strong as last year, the organization notes in a report. In 2003, sales over the holiday shot up 4% from the previous year.
Only 6% of consumers have completed their holiday shopping so far this year, ICSC says. "There is plenty of shopping still in the pipeline," the report says.
Sales for the week ended Nov. 27 were down by 1.5% compared to the previous week, according to the ICSC-UBS retail chain store sales index. It was the worst week-over-week performance retailers have posted since Sept. 4. Sales were up on the Friday after Thanksgiving, when nearly one-third of all consumers shopped, but dragged on Saturday.Year-over-year same-store sales, however, improved by 2.4%.
Most retailers will release their November sales figures tomorrow.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
