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Stars Appear to Be Aligning for Department Stores in Upcoming Holiday Season
Several trends that appear to be aligning could bode well for department store performance in the coming holiday season, Placer.ai reported Tuesday. First, as the firm previously reported, top tier malls seem to have effectively recovered, indicating that they could prove to be a valuable platform this winter.
Second, Placer ai said, “the Back-to-School season does seem to have galvanized excitement for apparel shopping. Several department stores saw relatively strong numbers in July and August with visits either up on 2019 levels or visits gap shrinking to far more optimistic levels.”
Although the end of the summer and the simultaneous rise in COVID cases appears to have diluted the full effect of the retail recovery, Labor Day brought some more important signs of strength, according to Placer.ai.
“Should the current COVID wave begin to dissipate by the holiday season, there is real reason to believe that a reopened retail environment could drive a stronger than expected period.”
- ◦Economy
