However, some retailers said most transactions took place on December 23 and were disappointed shoppers did not take advantage of the extra shopping Saturday on December 24. Chain store sales were 2.8 percent higher in the week to December 24 after rising 2.4 percent in the prior week, according to a report by the International Council of Shopping Centers (ICSC) and UBS Securities LLC.
In a separate report, Redbook Research, an independent research company, said sales at major retailers rose 4.5 percent on a year-over-year basis in the week ended December 24. "Procrastinating consumers and a late Hanukkah (December 25) helped to lift the holiday season's performance," said Michael Niemira, ICSC's chief economist and director of research.
Hanukkah, the Jewish festival of lights, is based on a Hebrew lunar calendar, which means it falls on different dates of the Gregorian calendar every year. This year it began on Christmas day for the first time in decades.
Despite differing views on the week preceding the two holidays, retailers are looking forward to the next phase of holiday shopping, gift card redemptions.
"While retailers are pleased with last week's performance, the holiday shopping season is far from over, since about 60 percent of gift-card redemptions occur between December 26 and the end of January," Niemira said.