Wednesday, December 28, 2011
A mall trade group says that last minute shoppers gave merchants a solid lift during the final week before Christmas.
Sales at stores opened at least a year rose 0.9 percent for the week ended Saturday compared with the previous week and was up 4.5 percent compared with the same period a year ago, according to the International Council of Shopping Centers-Goldman Sachs Weekly Chain Store Sales Index, released Wednesday. The index serves as a sales proxy to 24 major stores including Macy's Inc. and Costco Wholesale Corp.
ICSC expects that holiday sales for the November and December combined will be in line with its forecast of 3.5 percent.