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Article: Retail rebound is gaining momentum in Manhattan.
- Article from:
- Real Estate Weekly
- Article date:
- October 21, 2009
- Author:
CopyrightCOPYRIGHT 2009 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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September was a sigh-of-relief month. During the last month of the third quarter, retail sales in the U.S. grew by 0.1 percent according to the International Council of Shopping Centers Chain Store (ICSC) Sales Index.
This figure may seem like a small victory, but it's a critical indication that things are turning around. More importantly, the uptick is being seen across a wide retail spectrum, from couture to discounters. In Paris, French fashion company Louis Vuitton reported sales were increasing. Antoine Arnault, the firm's head of communications told Reuters at the beginning of October, "We are very optimistic on the Christmas season." Adding, "Sales are ...