Make us your home page
Instagram

Through Christmas Eve, retail sales on track for a decent gain this year

Another key barometer buttresses a consensus forecast for a 3.8 percent gain in holiday retail sales this year. The holiday season doesn't end until Sunday because of returns, gift card redemptions and post-holiday clearance sale crowds. For the week ending Christmas Eve, sales activity measured by the retail index of the International Council of Shopping Centers slowed, but was still a "solid" 1 percent ahead of last season. With gift card sales well ahead of last year, the results are a harbinger that general merchandise sales are on track for a 3.5 to 4 percent gain, said Mike Niemira, ICSC chief economist. The index tracks actual sales reported by 24 of the largest chains from Costco to Macy's, but not Walmart. The index does not reflect gas, food or auto sales. Largely discretionary spending, holiday sales are a closely watched measure of the nation's economic health because consumer spending is more than two-thirds of the economy. The two-month season also accounts for up to a third of the annual revenue and half the annual profit for many retailers. Meanwhile, ComScore said online general merchandise sales jumped 16 percent to a record $35.2 billion from Nov. 1 through Christmas Day. That would make online retailing about 9 percent of the total.

Through Christmas Eve, retail sales on track for a decent gain this year 12/28/11 [Last modified: Wednesday, December 28, 2011 6:29pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Carrollwood fitness center employs scientific protocol to help clients

    Business

    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel

    Business

    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal

    News

    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate

    By WAVENEY ANN MOORE

    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]