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Article: Retailers Expected to Ring Up Huge Gains This Holiday Season According To First Union Economist Mark Vitner.
- Article from:
- PR Newswire
- Article date:
- November 24, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. 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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CHARLOTTE, N.C., Nov. 24 /PRNewswire/ -- First Union's estimate of holiday retail sales growth calls for an 8.5% increase from the prior year, with most of that gain coming at department and discount stores. "The Internet will get the headlines this holiday season, but traditional retailers should be very happy with sales this year," noted First Union economist Mark Vitner.
Consumers are going into the holiday season in great spirits. Unemployment is at its lowest level in nearly thirty years, inflation is low, and the stock market is up. "With the economy in such great shape, consumers are likely to splurge a little more this holiday season," said Vitner. ...