Department Stores

ICSC Sees Jolly Holiday Sales

Shopping center and general merchandise stores expected to do well

Published

12 years ago

September 26, 2012

VMSD Staff

The International Council of Shopping Centers (ICSC, New York) is forecasting a 3 percent sales increase for the traditional November-December holiday period. Additionally, ICSC anticipates that the other two measures of U.S. industry holiday sales – shopping-center sales and GAFO-store sales – will increase slightly as well.

In its forecast, the trade association predicts 2012 holiday sales of $463 billion at shopping centers, $258 billion at GAFO (general merchandise, apparel and furniture) stores and $112 billion at chain stores. Uncertainty over the economy, housing prices, rising gasoline prices and the presidential election are expected to continue to influence consumer spending.

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