Citigroup expects strong holiday sales

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24 October 2006 — New York (NY): On the back of strong back-to-school sales, Citigroup is expecting a 3 to 4 percent increase in same-store sales for broadlines and hardlines retailers over the holiday period.

Broadlines retailer Wal-Mart is one of Citigroup’s top picks for Holiday 2006, due to its aggressive promotional strategy and competitiveness in key categories, including consumer electronics.

 

Hardlines retailer Staples continues to be recommended by Citigroup. The company believes that the retailer will post North American Retail Q3 comparable store sales of at least 3 percent, driven by a strong back-to school season.