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Time for a True Christmas Rally ala 1998-1999

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September 13, 2012 – Comments (0) | RELATED TICKERS: SPY , DIA , QQQ

Two Forecasts Predict Strong Holiday Season By JCK StaffPosted on September 13, 2012
 

Holiday spending will rise over last year, according to the first two retail forecasts for the upcoming year-end sales season.

ShopperTrak, a Chicago-based service that counts and analyzes retail foot traffic, predicted that holiday sales will rise 3.3 percent.

Its survey estimates that retail foot traffic will increase 2.8 percent. This would trump the 2011 holiday season, when foot traffic dropped 2.2 percent.

A ShopperTrak release wrote that, by its count, retail sales have risen 34 of the past 35 months.

"Retailers have reason to be optimistic about this season," said company founder Bill Martin in a statement. "It's clear that foot traffic is increasing and month-over-month sales continue to be better than expected.”

Meanwhile, the Hay Group, a market consultancy, found that 75 percent of the retailers it surveyed expect holiday sales to rise.

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