ICSC Sees Jolly Holiday Sales

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.