updated 12/28/2004 11:12:28 AM ET 2004-12-28T16:12:28

Retailers benefited from a last-minute holiday shopping spree, putting them on track to meet modest seasonal sales goals, two groups that track consumer spending reported Tuesday.

The International Council of Shopping Centers, the leading shopping center organization, said that same-store sales, or sales at stores opened at least a year, were up 2.7 percent for the week ended Dec. 25, from the previous week. On a year-over-year basis, the sales pace rose by 4.3 percent, which was the strongest gain since July 3, 2004, when the index recorded a 4.4 percent increase.

Michael P. Niemira, chief economist at the International Council of Shopping Centers, said given the pre-Christmas spending surge he feels confident that the industry will be on track for a 2.5 percent to 3.0 percent gain in same-store sales for the combined November and December period.

ShopperTrak, which tracks total sales at more than 40,000 retail outlets, said that total sales for the week, ended Dec. 25 rose a robust 11.6 percent, compared to the year-ago period.

© 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com