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Retail Sales Are Looking Up!

Slow and steady wins the race, it seems.

We’re happy to bring you good news about the retail market during this holiday season. It seems retailers have fared well during the holiday season, and are looking forward to what they hope will be a prosperous 2010.

Of course, the news isn’t overwhelmingly good - it’s not as though retailers are rolling in it, but still, the general mood is optimistic and reflects the slow and steady recovery of the economy.

For instance, Bloomingdales CEO Michael Gould said that on Christmas Eve:

“We went home with big smiles on our faces. We feel good about the business and the quality of the business we ran. Last year in December we were drastically reducing inventory to get ourselves in a better position for spring. This year, we had a very good flow of reciepts all season long. We will continue to bring in the newness unabated. With new receipts coming in, we have a good opportunity to keep the momentum going.”

Similary, Pete Nordstrom, president of merchandising at Nordstrom said, “There is certainly a more positive feeling and the sense that we’re back to a normal rhythm.”

While the official returns won’t be in until January 7th, as of right now we know that total retail sales my cash, check, or credit card are up 2.3% since Black Friday. Men’s apparel grew 3.9%, shoe sales went up 5% and electronics increased by 5.9%. Not bad!

Gives us confidence that we’re back on the road to a strong economy.

Things are looking up!

[Image via AP Images.]

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