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Helped by last-minute holiday shoppers, weekly retail sales post gain

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Retailers received some holiday cheer last week from last-minute holiday shoppers.

For the week ending Dec. 26, retail sales rose 0.4% from the week before and 2.3% year-over-year, the International Council of Shopping Centers said today.

“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, chief economist of the shopping center group. “As such, consumers were out in force to finish shopping.”

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Niemira said preliminary numbers indicate that sales are on track to finish up about 2% for the month of December.

Results are based on sales at stores open at least a year, known as same-store sales. Major chain stores will report December sales figures next week.

--Andrea Chang

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