Dec 28, 2003 (The Wall Street Journal Online - ABIX via COMTEX)
US retailers are forecasting only modest growth of 2.2% in sales for the Christmas 2003 season. Tracy Mullin, CEO of the National Retail Federation, said retailers will depend on end-of-December sales to boost 2003 revenues. Negative influences on sales have included an influenza near-epidemic and a high terrorism security alert. Market researcher NPD Group believes personal computer sales improved by 15% compared with 2002, short of consensus forecasts of a 19% improvement. Internet shopping rose sharply. Luxury goods, jewellery, toys and electronic goods are expected to report good sales figures, but discount stores fared less well, while apparel sales were mixed at best. NPD said that lean inventories also inhibited sales, improving margins through lack of mark-downs, but also failing to excite consumer interest.
Publication Date: 26 December 2003
NPD GROUP: NATIONAL RETAIL FEDERATION: AMERICA'S RESEARCH GROUP INCORPORATED: JC PENNEY COMPANY: TARGET CORPORATION: COMSCORE NETWORKS INCORPORATED: FAO INCORPORATED: KB TOYS INCORPORATED: WAL-MART STORES INCORPORATED: NORDSTROM INCORPORATED: COACH INCORPORATED: GAP INCORPORATED: ABERCROMBIE AND FITCH: NEIMAN MARCUS: SAKS FIFTH AVENUE: INTERNATIONAL COUNCIL OF SHOPPING CENTRES: DEUTSCHE BANK SECURITIES: SEARS, ROEBUCK AND COMPANY: JOHN HOPKINS UNIVERSITY
By Shelly Branch and Amy Merrick and Ann Zimmerman
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