Retailers are Optimistic About the Holiday Season

If expectations become reality, this year's fourth quarter could turn out to be the strongest of the last four years. According to a report released Wednesday from the International Council of Shopping Centers, retailers are far more optimistic about holiday season revenue this year than during the previous two years.

About 55% or retail-industry members expect 2010 holiday season sales to top last year's, with 3.5% forecasting that revenue would be much higher, according to the ICSC. Only about a third of respondents last year expected higher holiday sales, while a mere 2.9% of those polled in 2008 said holiday sales would increase from a year earlier, the ICSC reported.

Retailers are hoping that recent gross domestic product figures portend an upswing in holiday sales. The U.S. Commerce Department said last week that GDP grew 2% during the third quarter, in line with economists' expectations, while consumer spending increased at a 2.6% annual pace in the quarter, its fastest growth since the fourth quarter of 2006 and up from 2.2% in the second quarter.

With such sales momentum, the ICSC estimated that the 2010 holiday season sales would be the biggest since 2006.

Read Full Story
  • DJI26613.72-849.47-3.09%
    NASDAQ11061.23-370.12-3.24%
  • NIKKEI 22523418.51-67.29-0.29%
    Hang Seng24708.80-78.39-0.32%
    DAX11560.51-503.06-4.17%
  • USD (PER EUR)1.18-0.0039-0.33%
    USD (PER CHF)1.10-0.0013-0.12%
    JPY (PER USD)104.33-0.1640-0.16%
    GBP (PER USD)1.30-0.0064-0.49%

From Our Partners