Shoe Sales Down 0.6% For 1997 Holiday Season
NEW YORK--(BUSINESS WIRE)--A last minute buying surge helped push
sales in the nation's regional malls up by 2.3 percent on a calendar-adjusted basis for the holiday
shopping season (Nov. 28 - Dec. 24), compared with the Thanksgiving to Christmas period in
1996, the International Council of Shopping Centers (ICSC) reported today.
Mall managers reported exceptionally strong sales on Monday, Dec. 22 and Tuesday, Dec. 23,
which lifted the season-to-date total up from the 2.0 percent level it had been in the week ended
Dec. 21.
The council's database of 49 malls measures sales at more than 2,500 specialty stores on a
"comparable mall" basis. It does not include department stores and other mall "anchors." The
calendar adjustment takes into account the fact that malls were open one extra day this year.
Jewelry proved to be the strongest category by far this year, with a sales increase of 8.3 percent,
followed by a music/entertainment/software (up 2.5 percent), apparel (up 1.1 percent),
cards/gifts/books (up 0.3 percent), home furnishings (down 2.7 percent), food courts (down 2.0
percent) and shoes (down 0.6 percent).
John Konarski, ICSC vice president of research, said the 2.3 percent gain was in line with what
analysts had expected in the past few weeks, although it was slightly below the prevailing view
before Thanksgiving.
"This was a solid Christmas season for mall operators -- not spectacular, but in line with what
we've ben seeing throughout the year," Konarski said. "The days leading up to Christmas were
very strong, which bodes well for the new year."
Founded in 1957, ICSC is the not-for-profit trade association of the shopping center industry
with 35,000 members in 70 countries.
--30--al/ny*
CONTACT: Malachy Kavanagh/Karen Killeen
212/421-8181, ext. 323, 315
icsc.org |
