Retail Sales Up 4.5 Percent The Week Before Christmas

Published 12/28 2011 11:00AM

Updated 12/28 2011 11:01AM

   (New York, NY)  --  Longer holiday hours and last-minute shoppers are being credited with boosting retail sales four-and-a-half percent the week before Christmas.

   The International Council of Shopping Centers and Goldman Sachs report sales for the week ending December 24th increased nearly one percent from the previous week.

   Analysts say big chains like Macy's and Toys "R" Us benefited from extended hours with Christmas Eve falling on a Saturday.

   Still, industry experts caution that all of the discounts offered to help move merchandise could also squeeze profit margins.

   (Copyright 2011 by VERTEXNews/Newsroom Solutions)

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