For what it's worth, ICSC is projecting same-store sales to rise between 3 percent and 3.5 percent over the November/December period while the NRF thinks total sales will rise 2.3 percent to $447.1 billion. In addition, has projected a same-store sales increase of 2.5 percent and Deloitte has projected total sales to rise 2.0 percent. (ShopperTrak and NPD Group will release their projections within the next couple of weeks as well.)Forward
Reuters chose to focus on the positive and highlighted the fact that if these projections come to fruition it would mark the strongest holiday sales season since at least 2006.
The the seasonal hiring patterns. It appears retailers will not take on a ton of temporary workers for the holidays. (As a side note, while Reuters explicitly called the back-to-school sales "better than expected", the Times described them as "disappointing." For the record, the consensus was that August sales were stronger than expected and we don't get the final September numbers until tomorrow.)Times opted for a different tactic and looked at
Lastly, the Wall Street Journal is saying that the success of the holiday shopping season for many retailers will hinge on discounting.
The shift back into discounting mode is an about-face from the previous holiday season and earlier this year, when lean inventories allowed retailers to hold the line on prices. But retailers were forced to roll out promotions to bring customers into their stores when shopping sputtered out in late spring and summer.
The September price wars were particularly evident in the teen sector. Aéropostale Inc., a heavily promotional retailer, saw more competition this season as its higher-priced peers took deep discounts. It responded with select hoodies on sale for $14.99, the same low level it offered on Black Friday last year, says John Morris, an analyst at BMO Capital.
"There's no doubt that the current climate is more promotional," said Aéropostale Co-CEO Mindy Meads at a conference last month. "In select categories, (our competitors are) hitting a little harder, which is causing us to promote harder."
Here are some other highlights from around the retail real estate world.
- 'Delay and pray' won't work for commercial real estate (Washington Post)
- Thomas Barrack Says Real Estate Isn't a `Sacred Chalice': Video (Bloomberg)
- Talbots cuts revenue outlook, sets store closings (Associated Press)
- J. Crew opens new men's concept store at Copley Place (Boston Globe)
- Mega Mart Gwinnett Place opens Oct. 8 (Atlanta Business Journal)
- Apple's New Mall of America Neighbor: Microsoft (Mac Observer)
- Hispanic theme for Eastland mall site (Charlotte Post)