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Credit Crunch Doesn't Dampen Retail Numbers

Posted Sep 6, 07 3:09 PM CDT in Business 

(Newser) – Better-than-expected retail sales figures for August, which built on healthy back-to-school and luxury shopping, raised hopes today that turbulent markets won't take too big of a bite out of holiday-season sales. Wal-Mart and Target made out well, as did luxury emporiums such as Saks. "It bodes well for Christmas," one analyst tells MarketWatch.

Sales also benefited from later back-to-school dates, tax-free shopping days, and cheaper gas. But the pace is still expected to slow, and economists don't expect the problems plaguing the larger picture to skip over the retail sector. "It's pretty clear a lot of the activity is fueled by deep discounting," says one.

Source MarketWatch

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In this undated photo provided by Wohlmuther company of a pair of diamond-studded luxury lederhosen . The designer, Christian Wohlmuther, said Friday, Aug. 24, 2007, he is taking orders for personalized...   (Associated Press)
Couture Book(TM) Launches Luxury Custom Made Photo Books Crafted With High-Style Perfection and the Finest Materials; Special moments flawlessly captured in stylishly made-to-order books now within your...   (Associated Press)
Patrice Stewart, right, and her cousin Jhennel Bryan shop for back-to-school clothes at Macy's in this Aug. 9, 2007 file photo in New York. Consumers returned to the malls in August for a late back-to-school...   (Associated Press)
The Carrillo family shops for jeans at a Wal-Mart store in Santa Fe Springs, Calif., in this Aug. 7, 2007 file photo. Consumers returned to the malls in August for a late back-to-school buying spree,...   (Associated Press)
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