Retailers, consumers and prices
Check Out Line: ‘Twas the week after Christmas…
Check out post-Christmas sales.
Chain-store sales for the week ended Dec. 29 rose 2.3 percent from the previous year, according to the International Council of Shopping Centers.
Sales fell 0.2 percent from the prior week, but that came after two relatively strong weeks, ICSC chief economist Michael Niemira, said.
Still, the week-over-week decline comes in the days after Christmas, a crucial time this year. Analysts are watching to see if post-holiday sales can prop up a lackluster holiday shopping season.
Niemira said the story of the season isn’t complete yet.
“The good news is that gift cards once again made up a significant portion of holiday gift expenditures this year and that will propel sales into January,” he said.
Also in the basket:
Luxury’s Latest Frontier: Brands Rush to Expand In Surging Middle East (WWD, subscription required)
2008 a test for luxury retailers (Chicago Tribune)