Advertisement
YOU ARE HERE: LAT HomeCollectionsFixme

Shoppers take a break from aisles

December 05, 2007|From the Associated Press

After jamming stores for bargains over Thanksgiving weekend, holiday shoppers in the U.S. are taking their usual break from the buying frenzy, according to two industry reports. The question is, when will they return to stores in large numbers?

According to ShopperTrak RCT Corp., which tracks total sales at more than 50,000 retail outlets, sales for the week ended Saturday declined 4.4% from the year-earlier period, representing the largest year-over-year sales decline since March.

As expected, total sales dropped 12.5% from the previous week, which ended Nov. 24 and included the robust shopping days on the Friday and Saturday after Thanksgiving, according to ShopperTrak.

"With three full weekends left before Christmas, many consumers might be waiting until the last minute to wrap up their holiday spending," said Bill Martin, co-founder of ShopperTrak. But he added that retailers were not panicking yet because there are still "plenty of good shopping days left in the 2007 season."

Another industry report, the UBS-International Council of Shopping Centers sales tally, said same-store sales rose 3.1% for the week ended Saturday from the year-earlier period but fell 2% from the previous week.

Same-stores sales are sales at stores open at least a year and are considered the key indicator of a retailer's health.

Advertisement
Los Angeles Times Articles
|
|
|