Retail sales in the week to December 29 soared 14 per cent, driven by discounts and the redemption of gift cards, according to footfall and sales monitor ShopperTrak. Footfall rose 7 per cent year on year.
However, industry observers believe that the boom in sales in the final week of December has done little to offset one of the weakest holiday shopping periods since 2002.
The International Council of Shopping Centers’ (ICSC) weekly like-for-like sales index slipped 0.2 per cent week on week in the week to December 29 and rose 2.3 per cent year on year.
ICSC chief economist Michael Niemira said like-for-like sales for December fell short of the 1.5 per cent like-for-like growth forecast. As a result, like-for-like growth in November and December is likely to be lower than the 2.5 per cent forecast, at about 2.2 per cent. “The holiday season was pretty slow and pretty promotional,” he said.
Meanwhile, US fashion retailer Urban Outfitters bucked the trend by reporting a 28 per cent increase in sales to US$356 million (£180.5 million) in November and December. Like-for-likes rose 9 per cent for its Anthropologie, Free People and Urban Outfitters fascias.
In December alone, like-for-likes hit 9 per cent against a 5 per cent decrease for the same period last year.
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