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Last-minute shopping boosts weekly sales

Business
By Dave Larsen
Dec 31, 2013
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Retail sales increased last week because of consumers’ last-minute shopping for holiday gifts, according to new data released Tuesday.

Retailers closed out the 2013 holiday shopping season on a positive note as weekly sales increased 1 percent for the week ending Dec. 28, according to the International Council of Shopping Centers and Goldman Sachs Weekly Chain Store Sales Index.

On a year-over-year basis, the pace of sales continued to improve and rose by 3 percent, officials said.

“Business was brisk in the final days ahead of Christmas and for the week as a whole,” said Michael Niemira, ICSC vice president of research and chief economist, in a statement.

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About the Author

Dave Larsen