Holiday Results Uninspiring So Far
If the first reports trickling in on holiday sales are accurate, the National Retail Federation’s estimate of 4 percent sales growth for the holiday season, the lowest since 2001, may have been too optimistic. The day after Christmas, some reports were that sales were flat. ShopperTrak and MasterCard Advisors have said that overall sales were up 3.6 percent, but excluding gas and auto purchases left a measly increase of only 2.4 percent. The International Council of Shopping Centers said Wednesday that same-store sales during the holidays would be “just below” projections for a 2.5 percent gain, although post-Christmas sales could erase that shortfall. Online sales, although still growing far faster than sales at stores, grew a bit less this year, up an estimated 19 percent this year to $26 billion. Online jewelry and watch sales, which grew a torrid 66 percent last year, may even have been down slightly this year, according to comScore.