November 28

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Local Merchants Report Sales Increase for Thanksgiving Weekend

November 28, 2006

Norfolk, VA - Many local retailers in Hampton Roads reported increases in sales over Thanksgiving weekend, the traditional start of the holiday shopping season. More than 30 retailers reported sales results through the third annual RETAIL ALLIANCE Holiday Sales Watch, a weekly snapshot of retail activity in Hampton Roads.

66 percent of survey respondents reported sales were up or even over the same period last year. Of those reporting higher sales, the average increase was about 14 percent. All “apparel” stores in the survey reported sales were up or even, with 60 percent of “women’s apparel” stores reporting higher sales. 83 percent of “food” category stores reported sales were up or even. 80 percent of stores in the “home décor” category reported sales were up. Only the “jewelry” and “specialty gifts” categories reported a decrease in sales over last year.

The majority of retailers participating in the survey indicated that shoppers appeared to be in good spirits over the busy shopping weekend as they sought out special sales on gift items.

“It seems that each year, consumers have higher expectations for great deals, which means retailers need to respond accordingly if they want to remain competitive,” said RETAIL ALLIANCE CEO/President C. Donald Porter. “We expect our local retailers will offer appealing promotions to satisfy our local shoppers.”

According to the National Retail Federation’s 2006 Black Friday Weekend Survey, conducted by BIGresearch, more than 140 million shoppers hit the stores on Black Friday weekend, spending an average of $360.15, up 18.9 percent from last year’s $302.81. The most popular items purchased were clothing or clothing accessories as well as books, CDs, DVDs, videos and video games Consumer electronics, computer-related items, toys, gift cards and home décor and furnishings wee also strong sellers.

Hot Sellers in Hampton Roads for the Survey Period Nov. 24 – 26, 2006

• Women’s Apparel: Handbags, jackets and rainwear
• Food: Food for entertaining
• Home décor: Holiday and hand-made items

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