December 21

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Local Merchants Continue to Enjoy Strong Holiday Sales

December 21, 2004

Norfolk, VA – As shoppers approach the completion of their holiday purchases, local retailers in Hampton Roads report good holiday sales for the week ending December 19, according to the Retail Alliance Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.

Of those retailers reporting actual sales percentages up or down, the average is a 5.75 increase in sales over the same holiday shopping period in 2003. Reported increases ranged from 1 to 30 percent. The retailers also reported that shoppers are maintaining positive attitudes and appear friendly and not rushed.

“Even though we didn’t see some of the extraordinary sales increases that a few of our survey participants reported earlier this month, our local retailers continue to enjoy a very strong holiday season,” said Retail Alliance President/CEO C. Donald Porter. “It’s evident that holiday retail sales in Hampton Roads continue to outperform other areas of the country.”

On the national level, retail sales for this past Saturday and Sunday, which is typically the busiest shopping weekend of the year, dipped 3.3 percent versus the same two-day period last year, according to a ShopperTrak report Monday. Even though more shoppers went out shopping this past weekend, actual purchase trends may have been weaker.

Also, the National Retail Federation (NRF) announced yesterday that according to the fourth installment of its 2004 Holiday Consumer Intentions and Actions Survey, conducted by BIGresearch, the average consumer has completed nearly 82 percent of their holiday shopping. Based on the survey, NRF estimates that up to 20 percent of holiday sales will occur the week before Christmas. The week after Christmas typically represents 10 percent of holiday sales, with consumers redeeming gift cards and hunting for sale items.

Hot Sellers in Hampton Roads for the Survey Period Dec. 15 – 21, 2004

Jewelry: Sales are strong, with diamonds and gold among the top sellers, as well as pendants and charm bracelets. (Specifics: Italian charm bracelets, magic scarves, jewelry boxes, diamond rings)
Apparel: Cashmere and angora items, leather gloves, holiday outfits and hat and scarves continue to be strong sellers. (Specifics: Cashmere sport coats, ODU logo items, magic scarves, capelets)
Other: Holiday decorations, stocking stuffers, lamps and mirrors (Specifics: Christmas ceramics, candles, ornaments)

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