The nation’s retailers can expect a modest increase in sales this holiday season, according to a recent report. According to ICSC Research, holiday sales are expected to grow by about 1 percent in the November-December period, while shopping center sales are projected to grow by 1.8 percent in that period.
The holiday sales figures will be especially watched in many quarters this year because of the difficulties the commercial real estate sector, which includes malls, has undergone. Analysts will also be watching to see if any sales increases can be attributed to an emerging economic recovery or an overall upswing in consumer optimism.
A report by Dow Jones says that if the current projections hold up, the sales will be an improvement over the 2008 season, but will still be the second weakest in about four decades. In the past couple of months, retail sales have already been showing some mixed signs of life. For example, recent figures from the Census Bureau indicated that retail sales increased 3 percent in August over July, but remained 6 percent lower than last year at this time.
By Steve Monfort
NASDAQ