But on the brighter side for retailers, last-minute shoppers may not have yet started their shopping last month. According to a recent ICSC and UBS survey, only 6% of consumers have completed their holiday shopping. ICSC predicts a December sales increase of 3.5% to 4%.
Department stores were the only sector that, with a 2% jump, performed better than its year-to-date average, which has been 1.8%. J.C. Penney led with a 12% rise, followed by Neiman Marcus' 8.4% jump. May Department Stores posted the largest decrease, falling 7.9%.
Apparel chains were mixed. American Eagle Outfitters continued its hot streak with a 24.3% gain, and United Retail Group also had a strong month, with an 11% jump. But Ann Taylor fell 8.3%, Limited Brands fell 5% and Gap Inc. dropped 4%.
Discounters, with a 1% gain, were well below their average so far this year of 3.3%. Wal-Mart was up by 0.3%, compared to its 2004 average of 2.9%. Target fared better, with a 3.2% jump.
Wholesale clubs were up 3.9% as a sector. Costco led the way with a 5% spurt, and Wal-Mart's Sam's Clubs rose 2.9%.
Meanwhile, the National Retail Federation released a report that says retail executives' opinions of the industry's performance were unchanged from October to November. Year-over-year the NRF's Retail Sector Performance Index jumped 2.4 points in November.
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