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  "documentTitle": "Retail Holiday Newsletter 1",
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      "text": "Hopes are high that this holiday season will be the best in years.",
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      "text": "The electronics and appliances segment has been making a comeback, and is expected to continue on a positive trajectory through the holidays. Although its sales for the 12 months ending in September 2010 were 7.7% below 2007 levels, and grew only 0.8% in the last twelve months, it has recently been the fastest-growing of GAFO segments (see Chart 8). And store productivity actually has increased 3.2% as retail selling space fell 10.5% over the same period, driven largely by Circuit City's closing of its last 567 stores in 2008 and 2009. Sales growth this season will likely get a boost from a few hot products. Our Communispace community members are particularly excited by LED and 3-D TVs, iPads and increasingly affordable smartphones and digital cameras.",
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      "text": "Here's to a happy holiday season! Hopes are high that this holiday season will be the best in years. Bain's estimate of 3% growth is at the high end of other holiday forecasts, which range from 2.0% to 3.5% (Chart 11).10 But growth is not a given. As the season gets set to kick off, an unseasonably warm October could hurt sales of winter merchandise - or at least delay them until November. This, combined with higher inventory levels could pressure retailers to step up promotional activity early, threatening margins. We will continue to report on those retailers who are succeeding and to examine the practices that are most important in driving their success.",
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      "text": "The furniture and home furnishings segment was hit hardest during the recession and has a long road ahead. As the housing market faltered, sales dropped 21% from the 12 months ending in September 2007 to the same period this year, the largest sales drop of all GAFO segments. Store closures have been widespread: This segment has seen a 17% drop in retail space since 2007. Stores that survived suffered a 5.2% drop in productivity over the same period. Sales growth this year, however, gives these retailers some tailwind going into the holiday season. At the furniture market this month in High Point, North Carolina, Market Authority president and CEO Brian Casey reported an increased number of buyers, further fueling a positive outlook for the holidays. Among the trends driving the increased activity are innovative designs to accommodate large flat-panel TVs and other new technologies.",
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      "text": "retailers. The bonus for the remaining stores is that productivity is actually 8.3% higher than it was in 2007. Recent results also have been promising: Back-to-school August saw modest year-over-year growth of 1.9%, followed by an even more hopeful September, which ended with a 4.4% increase over last year (see Chart 8). Growth is being differentially driven by fashion-forward shoppers. A joint study by Bain and Vogue conducted this summer shows that style-conscious women spend about three times what the average American consumer spends on clothing and accessories.",
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