Glendale News Press
LATimes.com
Nov 12 2004
Holiday business outlook positive
Retailers forecast between 3% and 6% growth in sales at Glendale
stores.
By Darleene Barrientos, News-Press and Leader
DOWNTOWN GLENDALE — At John Drayman’s store, where he fulfills orders
to restore and preserve old photographs, business has been very
healthy in October. And over the years, he’s learned a good October
in his store is a merry Christmas in the Montrose Shopping Park.
“In my particular business, Christmas orders have to go in early, and
it has been a very good October,” said Drayman, a member of the
Montrose Shopping Park Assn. “That usually means a very good
Christmas season. I think we’re poised for a terrific shopping season
up here.”
During a holiday economic and trend forecast this week at the
Glendale Galleria, retailers predicted healthy growth for this year’s
Christmas shopping season, both in sales and in trends that lean
toward more luxury and higher-end merchandise.
“We’re projecting a 3% to 4% increase over last year,” Galleria
Senior General Manager JoAnne Brosi said. “What we’re seeing now is
earlier holiday shopping. I think the season is starting already — as
of last weekend we have not had a parking spot on Saturday or Sunday.
I saw a lot more people with shopping bags, and there seems to be
more of an urgency about starting earlier.”
If the number of stores opening this year were any indication of
growth, the Galleria would be ahead of the game. New stores will
include Metropark, a retailer catering to hip, urban men and women;
Club Libby Lu; Melt Gelato; Biotherm; and 4 Love 21, an accessory
retailer from the creators of Forever 21, scheduled to open next
month.
To Jack Kyser, senior vice president and chief economist for the Los
Angeles County Development Corp., the optimism for Glendale is in
line with the brighter future predicted for the rest of the
Southland.
“Our forecast in Christmas in Southern California is for an 8.5%
increase,” Kyser said. And if mid-range department stores like
Robinsons-May fulfill their promises of providing more customer
service, the end result might be a jump in holiday jobs, he said.
“In Christmas 2003, there was an 11,500-increase in the number of
retail jobs during the Christmas season,” Kyser said. “We should
probably match that and probably exceed it if the mid-range stores
follow through.”
But because of the high gas prices, cost of housing and lines of
credit topping off, Armenian-American Chamber of Commerce President
Joe Dermenjian believes discretionary funds will be limited.
“It will probably be slower than last year,” said Dermenjian, a
financial planner. “Many consumers depend on credit and many are
maxed out on credit. All the prices are coming up, from food to
clothing and everything else.”
But because Dermenjian believes the job market is better than it was
last year, retailers can probably look forward to next year.
“It’s a tight time,” Dermenjian said. “[People are] going to have to
think twice before they spend money, but they won’t stop shopping.
Next year, it will probably be much better, and hopefully, the stock
market will pick up, too.”
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From: Emil Lazarian | Ararat NewsPress