Join        Login             Stock Quote

Shoppertrak Reduces Holiday Sales Forecast

 December 19, 2012 01:57 PM

(By Balachander) ShopperTrak, a retail technology company, has reduced its holiday sales forecast, partly citing heavily discounted merchandise and the impact of hurricane Sandy.

The Chicago-based analyzer of customer traffic now expects holiday sales for the months of November and December to increase by around 2.5 percent, down from its prior projection of 3.3 percent growth year-over-year.

ShopperTrak continues to expect holiday season foot traffic to grow 2.8 percent over the same period last year. This represents the first increase in retail foot traffic during the holiday season since the recession in 2008, it said.

For the week ended Dec. 15, ShopperTrak said retail foot traffic rose 15.1 percent over the prior week and retail sales grew 16.4 percent.

[Related -What To Avoid -- And Where To Invest -- If The Fed Raises Rates]

"Hanukkah-related shopping helped boost retail sales last week, but many consumers delayed their Christmas shopping — and with good reason. They saw 32 shopping days between Black Friday and Christmas, the longest interval possible," said ShopperTrak founder Bill Martin.

On a year-over-year basis, foot traffic and sales fell 4.4 percent and 4.3 percent, respectively.

ShopperTrak forecasts largest weekly sales volume of the year in the week ending Dec. 22.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.