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SpendingPulse report: U.S. retail spending gains momentum in October
Purchase, N.Y. -- A report release Thursday by MasterCard Advisors said that in October total retail sales, ex-auto, grew by 3.3% year-over-year, the strongest year-to-year pace since April.
Similarly, according to MasterCard Advisors’ SpendingPulse, a macro-economic report tracking national retail and service sales, seasonally adjusted month-to-month sales were up by 3.1%. Excluding both auto and gasoline, on a seasonally unadjusted basis, year-over-year sales in October grew by 2.7%, slightly more than double September’s 1.3% increase.
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Gap’s China stores debut along with an online retail store
Shanghai, China -- Gap announced late Wednesday that its first four wholly owned Gap stores have debuted in China, along with the launch of its online retailer store gap.cn.
Each store will house all Gap collections: Gap, GapKids, Baby Gap and Gap Body.