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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Haim R. Branisteanu who wrote (17154)	11/30/2004 10:06:33 AM
From: mishedlo	Read Replies (2) of 116555

Uneven start to retailers´ key holiday selling season Tuesday, November 30, 2004 1:00:15 PM afxpress.com Uneven start to retailers' key holiday selling season WASHINGTON (AFX) -- The International Council of Shopping Centers says the holiday selling season got off to a softer-than-expected start. Citing consumers holding out for bargains and a dropoff in Saturday's customer traffic, U.S. retail chains' same-store sales fell 1.5 percent in the week ended Nov. 27 compared to the prior week, according to ICSC's latest survey compiled with UBS. On a year-over-year basis, sales grew by 2.4 percent, but this was slower than the growth rates seen in each of the previous few weeks. Assessing the post-Thanksgiving period, ICSC chief economist Mike Niemira said sales were "strong" on Friday but "weakened on Saturday and posted a moderate gain on Sunday." Against this backdrop, ICSC lowered its forecast for monthly sales to a growth range of 2.5 percent to 3.0 percent compared to November 2003, down from a prior projection of 3.0 percent to 4.0 percent

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