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October Sales May Hold Promise Of Relief To Stores

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Nov 5, 2009 4:52 am US/Central

October Sales May Hold Promise Of Relief To Stores

NEW YORK (AP) ― Analysts say sales numbers being released today may lift retailers' hopes for a slightly merrier holiday shopping season than last year.

Major retailers ranging from Target to Macy's are expected to report a second consecutive monthly gain in sales.

Any sales momentum would raise hope for the holidays. Stores are entering the season with leaner inventories compared to 2008, and are offering targeted discounts.

That's a big difference from last year, when stores were discounting piles of holiday inventory stuck in the pipelines after consumers went into hibernation.

Consumer spending accounts for about 70 percent of all economic activity by federal measures, so evidence that consumers are opening their wallets a little more could provide incentive for factories to step up production of goods.

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