Sharp Increase in Holiday Sales Reported
NEW YORK (AP) — A trade group for U.S. malls is reporting a sharp increase in sales for the week that ended Saturday, but shoppers are still behind in holiday buying compared with a year ago.
Sales at stores opened at least a year rose 3.4 percent for the week ended Saturday, compared with the previous week, according to the International Council of Shopping Centers-Goldman Sachs Weekly Chain Store Sales Index, released Tuesday. The increase followed two consecutive weekly declines, as shoppers took a break after a record spending spree over the Thanksgiving weekend, the official start of the holiday shopping season.
Sales for the recent week rose 4.6 percent compared with a year ago.
The weekly index is a sales proxy for 24 major stores, including Target Corp, Costco Wholesale Corp. and Macy's.