ICSC projects holiday sales will rise 3-3.5%

ICSC is forecasting that the 2010 holiday shopping season will increase between 3% and 3.5% over the same period last year, making it the largest increase since 2006 (+4.4%). The ICSC projection is for U.S. retail industry chain stores that have been open for at least one year. "The key story is that the retail recovery continues and that bodes well for the upcoming holiday shopping season," said Michael Niemira, chief economist and director of research for ICSC.