Last-Minute Shoppers Push Retail Sales Higher

New York, NY, Dec. 29, 2009--Last-minute holiday shoppers helped chain-store sales move higher for the week ended Dec. 26.

Sales rose 2.3% from the year-earlier period, according to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs.

On a week-over-week basis, sales were up 0.4%.

"The pre-Christmas sales wrap-up was strong as consumers hurried to finish off their gift buying, which was hampered by the super-sized storm during the prior week in the Southeast and Northeast and by a slower holiday-gift completion rate than last year," said Michael Niemira, ICSC's chief economist.

"As such, consumers were out in force to finish shopping and the preliminary indications appear that sales are on track."

For December, ICSC projects sales to rise about 2%.