Christmas Week Sales Up 2.3 Percent
NEW YORK -- The numbers starting to come in on the holiday shopping season continue to paint a stronger-than-expected picture.
The International Council of Shopping Centers and Goldman Sachs Group said this morning that U.S. same store sales were up 2.3 percent for the week ended Dec. 26, which includes the build-up to the holiday and one post-Christmas shopping day.
The report also predicts that the entire month's sales will be up 2 percent. "Consumers once again waited to the last minute to finish their holiday shopping," the ICSC said in the statement, adding that the winter storm that hit the East Coast on the weekend before Christmas helped drive those last-minute sales.
Yesterday, MasterCard Advisors's Spending Pulse reported that it saw sales rise 3.6 percent from Nov. 1 through the day before Christmas with Internet business showing the biggest increase by channel and electronics having the biggest gain by product classification.