Retail Sales May Rise This Holiday Season, Group Says

November 22, 2005 9:00 AM, EST

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oliday sales at U.S. retailers may rise 6% over last year, up from an earlier 5% forecast, according to the National Retail Federation, the Wall Street Journal reported Tuesday.

Retail sales during this year's holidays will climb to $439.5 billion, the paper said, citing the NRF forecast.

Department and discount stores including Wal-Mart Stores, the world's largest retailer, are offering early promotions to entice consumers who are paying 15% more for gasoline than a year earlier, Bloomberg reported.

Sales at luxury retailers are expected to outpace those of mid-priced department stores and discounters, Bloomberg said.