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NRF: More shoppers turning to holiday gift cards
Eight-in-10 (80.6%) shoppers will purchase gift cards this holiday season, according to the National Retail Federation’s Gift Card Spending Survey conducted by Prosper Insights & Analytics.
Holiday shoppers will spend an average of $163.16 on gift cards, up 4.0% over the $156.86 they spent last year and the highest amount in the survey’s 11-year history. Total spending on gift cards will reach $29.8 billion.
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Govt. shutdown dings Nash Finch in Q3
Leading food wholesaler Nash Finch said its third quarter sales growth was cut in half as a result of the government shutdown in September.
Total sales increase 3.5% to $1.56 billion during the period ended October 5, but the rate of growth would have been nearly double without the government shutdown which impacted defense department commissaries that are Nash Finch customers.