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Tuesday, November 24, 2009
Retailers' Weekly Sales Rise From Year Ago: Survey
By Andria Cheng
MarketWatch Pulse
NEW YORK -- Chain-store sales for the week ended Nov. 21 rose 3.3% from the year-earlier period, according to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs. On a week-over-week basis, sales were unchanged. "So much of the monthly performance rides on bargain Friday shopping--the day after Thanksgiving," said Michael Niemira, ICSC's chief economist, adding he expects sales to be strong on both Friday and Saturday. ICSC also said 15% of households completed half or more of their holiday gift buying-the highest percentage reporting that since 2004's holiday season-for the week ahead of Thanksgiving. He sees November sales to rise 4% to 6% as easy year-over-year comparisons will dominate the results. That was lower than his previous forecast of sales increasing in the range of 5% to 8%.
Copyright © 2009 MarketWatch, Inc.
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