Ultimately, September sales numbers monitored stores open for at least one year, and this report is a key measure of retailer’s health and consumer spending. Will the positive numbers translate into a merry holiday season for retailers? Yes and no.
Retailers are predicting that they’ll see a 1% drop in sales over the holidays. But this is also an improvement over last year’s dismal showing, when sales dropped 3.4%, the Associated Press reports. Consumer confidence is higher than it was a year ago, and shoppers may be more willing to spend.
- SPDR S&P Retail (NYSEArca: XRT): up 71.1% year-to-date
- Consumer Discretionary Select Sector SPDR (NYSEArca: XLY) up 28.5% year-to-date
- Claymore/Robb Report Global Luxury (NYSEArca: ROB) up 42.6% year-to-date
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