0
Retail looks for a late comeback
Shoppers walk with their bags on Black Friday, November 25, 2005 in New York City.
To view this content, Javascript must be enabled and Adobe Flash Player must be installed.
TEXT OF STORY
BOB MOON:'Tis the season to be a procrastinator. Fa-la-la. A new report shows holiday sales were down last week, but retailers shouldn't panic just yet. Marketplace's Jeff Tyler explains.
JEFF TYLER: Sales at chain-stores fell last week compared to the week before.
A report from the International Council of Shopping Centers also suggests that, compared to last year, fewer folks have bought the bulk of their holiday gifts.
Is this a sign that a slowing economy is cutting into retail sales?
CLAES FORNELL: I would not count the consumer out quite yet.
That's Claes Fornell, professor of business administration at the University of Michigan.
FORNELL: We think that the holiday season will be better than last year. Not that it was particularly good last year. But it will probably be stronger this year, and we predict a spending increase of about three percent for the fourth quarter.
Luckily for store owners, Christmas falls on a Monday this year. That leaves a whole weekend for last-minute shoppers.
I'm Jeff Tyler for Marketplace.
