Report: February Holidays Give Lift to Sales

Chicago Retail sales for the week ending Feb. 14 declined 1.2% as compared to the same period in 2008, while week-over-week sales increased a solid 12.0% vs. the previous week ending Feb. 7, according to ShopperTrak’s National Retail Sales Estimate.

Week-over-week sales posted a significant increase as consumers took advantage of improved weather to respond to Valentine’s Day and President’s Day promotions throughout the country. 

“Improved weather and holiday sales and promotions provided a much needed weekly sales lift, but the year-over-year number remains stagnant as consumers are saving their discretionary income in the current difficult economy,” said Bill Martin, co-founder of ShopperTrak. “Although year-over-year declines have shrunk the last few weeks, retailers are prepared for continued slow spending levels as consumer confidence remains low and there is no real shopping event until Easter in early April.”