Holiday Shoppers Boost Chain Store Sales

New York, NY, Nov. 30, 2010 -- Approximately 81 million shoppers turned out during the Thanksgiving weekend and they helped boost weekly chain-store sales by 3.5% from one year ago, according to the International Council of Shopping Centers and Goldman Sachs. 

Black Friday deals and heavy discounting drew shoppers into the stores for the annual start to Christmas shopping season. Overall, for the week ending Nov. 27, retail sales at the chains rose by 0.5% from the previous week following two weeks of sluggish sales.

Michael Niemira, ICSC director of research and chief economist, noted that the numbers were in line with expectations. 

"Overall it was a good start to the season, but consumers continue to report that their holiday gift shopping pace is well behind last year, which bodes well for the coming weeks,” Niemira added.