Retailigence

“Club of Knowledge Hunters”

Early October Retail Results Show Some Strength

Posted by superstar23 on November 2, 2008

Retail sales, which are being closely watched this fall, strengthened a bit in the week ended Oct. 18, rising 1.1% from the same period a year ago, according toShopperTrak RCT. The uptick reflects the Columbus Day holiday and cooler weather in the Midwest and the Northeast, ShopperTrak says. The comparable 2007 results didn’t include the Columbus Day weekend.

Cooler temperatures, big discounts and falling gasoline prices may have prompted consumers to open their wallets, says Bill Martin, co-founder and executive vice president of sales. “There is still some strength in Main Street in terms of money that (shoppers are ) still willing to spend, outside of food and gas,” he says.

But October sales through last week are still lagging behind year-ago results — ShopperTrak says they are 0.9% below the same period in 2007.

source:-wsj.com

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