December 5

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Local Merchants Continue to Report Solid Sales

December 5, 2006

Norfolk, VA – Many local retailers in Hampton Roads reported solid sales increases during the second weekend of the holiday shopping season through the third annual RETAIL ALLIANCE Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.

78 percent of survey respondents reported sales were up over the same period last year, and 86 percent reported sales were up or even. Of those reporting higher sales, the average increase was about 11.5 percent. All “apparel” stores in the survey reported sales were up or even, with 100 percent of “women’s apparel” stores reporting higher sales. 100 percent of “food” category stores reported sales were up or even. 86 percent of stores in the “home décor” category reported sales were up. The “jewelry” and “specialty gifts” categories continued to report a decrease in sales over last year.

The majority of retailers participating in the survey indicated that shoppers appeared to be in good spirits and ready to buy.

On a national level, CNN/Money.com reported today that weekly chain store sales for the week ended Dec. 2 dipped 2.6 percent from the previous week, according to an index published by the International Council of Shopping Centers and UBS Securities. Sales, however, rose 3.1 percent from the year-ago period. According to industry experts, more shoppers appear to be delaying their purchases, and with Christmas falling on a Monday, shoppers will have an extra day to pick up last-minute gifts. About a third of shoppers polled this past weekend by market research firm America's Research Group said they're waiting until the day before Christmas to finish their shopping. Shoppers also are on the hunt for bargains, with nearly 82 percent saying they are looking for discounts to reach 50 percent.

Hot Sellers in Hampton Roads for the Survey Period Dec 1 - 3, 2006

Women’s Apparel: Handbags and jackets
Food: Gift packs
Home décor: Signs and wind chimes; wreaths; anything with feathers (trees, wreaths, etc.)

Founded in Norfolk in 1903, Retail Alliance is the merchants association for the Hampton Roads region. The association serves its members with benefits that include discount advertising, retail lobbying, and education and training. The organization is a sales agent for Equifax credit reports and products, Hire vu employee background screening and Certegy check guarantee.

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