TEXT OF STORY
MARK AUSTIN THOMAS: Later this morning we’ll find out the sales figures for the nation’s chain stores. The expectation is the numbers will be up. If so, what does it mean for the coming holiday shopping season? Marketplace’s Jeff Tyler takes a look.
JEFF TYLER: Early indications point to positive growth on the retail front.
A report from Redbook Research shows national chain-store sales grew by 1.3 percent in October, and that’s despite the fact that Wal-Mart, the world’s largest retailer, had an off month.
Anthony Chukumba is a stock analyst with MorningStar.
ANTHONY CHUKUMBA:“That’s more based on Wal-Mart-specific issues rather than a harbinger of retail sales to come.”
In fact, Chukumba says the retail scene looks good going forward.
CHUKUMBA:“The unemployment rate is low. Gasoline prices, which really kind of hampered people last November post hurricane Katrina, have started to moderate. The economy is still relatively strong. So I think that we are seeing a lot of good tail-winds for a strong November and a strong Christmas season.”
The holiday spending season officially kicks off on Black Friday, the day after Thanksgiving.
I’m Jeff Tyler for Marketplace.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.