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Hernando Today

Retail Has Strongest Week In 3 Months

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By TONY HOLT

Hernando Today

Published: April 1, 2009

NEW YORK - Retail recently had its best week since the beginning of December and analysts think the strong showing is a "good omen" heading into the spring season.

For the week ending March 28, overall sales improved by 1.1 percent compared to a week earlier, according to the International Council of Shopping Centers and Goldman Sachs.

On a year-over-year basis, retail is still slumping. It has yet to show a positive gain in that category since Dec. 6, 2008. That trend could end in April, especially with the upcoming Easter bargains.

"April is usually a pretty good month for retail," said Erin Hershkowitz, an ICSC spokeswoman. "People usually shop for spring (fashions). It's usually a good month for apparel."

The improvement in sales, according to ICSC, was "uneven," but there were clear gains in department stores and discount chains, namely Wal-Mart.

Apparel-specialty and dollar stores weakened last week and heavy precipitation - particularly in the Midwest - and increases in gas prices might have dissuaded shoppers.

March will still be considered a weak month for retail. Economists think year-over-year sales could be down as much as 1 percent, partly because of the "Easter shift" into April.

The retail industry is expected to have sustained but "slower-than-normal" growth beginning in September, according to ICSC.

Reporter Tony Holt can be reached at 352-544-5283 or wholt@hernandotoday.com.

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