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ICSC: Holiday shopping to begin early; electronics to be most popular gift
New York -- Holiday shopping is going to start early this year, according to the International Council of Shopping Centers’ latest consumer tracking survey. About 35% of consumers have or will have started their holiday shopping by the end of October. Roughly three out of five shoppers will begin shopping by Thanksgiving this year, and by the end of the Thanksgiving weekend 86% will have started making purchases. -
Price investments hinder Supervalu profits
Supervalu president and CEO Sam Duncan is encouraged with the progress the retailer is making and why not. Identical store sales in the company’s Save-A-Lot units were up 6.5% in the second quarter.
The company’s total sales for the period ended September 6, increased 1.8% to $4.02 billion while profits declined to $31 million, or 11 cents a share, from $40 million, or 15 cents a share. When adjusted for some non-recurring items, second quarter earnings were $34 million, or 13 cents a share.