Tuesday, June 18, 2013
Retailers report strong sales gains for October
AP Retail Writer
POSTED: 05:26 a.m. HST, Nov 01, 2012
LAST UPDATED: 05:27 a.m. HST, Nov 01, 2012
NEW YORK » Americans spent briskly in October before Superstorm Sandy hit the Northeast, but they may not continue to do so during the busy holiday shopping season.
The International Council of Shopping Centers said today that its tally of 21 stores shows a 5 percent gain in sales at stores open at least a year in October, better than the 3.5 percent to 4.5 percent estimate.
But analysts worry that sales going forward will take a hit because many Americans bought generators and other storm supplies, which could cut into their budget for the holiday period. That would be bad for retailers, which can make up to 40 percent of their annual sales then.
The results cover the four-week period ending Oct. 27. November's results will show the storm's full impact.
Sandy slowed consumer spending and pay in October
That Santa feeling hasn't quite left shoppers yet
Online shopping sales surge 26 pct on Black Friday
Retailers report weak sales gains for November
Dec. 26 storms delay $1B in retail spending
Rebound cautiously welcomed
Cyber Monday likely to be busiest online sales day
Hawaii retailers ring in holidays with solid sales
Shopping center space at emptiest in 6 years
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