Retail numbers were positive for October

Upbeat shoppers led to an increase in retail stores’ increase in sales for October. Some say that the shoppers were enticed by signs of an improving economy and getting a head start on holiday shopping.

Retail numbers were up across the board; with stores like Costco doing well as well as designer brands. The stores that did the best were Costco Wholesale (which operates T.J. Maxx as well as Marshalls), Saks, and Nordstrom. One of the stores that one would think would do well when consumers go back to spending would be Wal-Mart, but the store doesn’t issue monthly sales reports anymore so finding out how it did simply isn’t possible. The next report from it will be the fourth quarter report, which will not only tell about October’s sales but also November and December.

According to MSNBC, the reason that business was up for October had something to do with the cool weather and people’s need for cold weather clothes. Early holiday discounts also brought in the shoppers and it seemed like people were a bit less reluctant to purchase items.

Sales figures are up from October 2008. However, when looking at October 2008’s sales figures, consumer spending simply dropped off. With a bit more optimism about the economy, there is more spending now than there was then, and it will likely continue through the holiday season if the economic conditions continue to improve.

Source