According to the new report, titled Retail Essentials, the home improvement category posted the highest gains through the third quarter with a growth rate of 14.6% and seems poised to carry this momentum into the upcoming holiday season. The growth in this category was fueled by low interest rates and the red-hot housing market, and reflects a new trend towards Boomers deciding to feather their nests rather than spending on themselves. Other retail categories that are well positioned for the holiday season based on their third quarter performance include: - Furniture and home furnishings stores: up 11.9% - Apparel retailers: up 8%; - Food and beverage retailers: up 7.1%; and - Pharmacies and personal care stores: up 6.5%. Retail Essentials is a new quarterly report distributed to retailers and business owners across Canada. The report is the result of collaboration between Moneris Solutions and the J.C. Williams Group and provides an in-depth analysis on retail spending in Canada for Q3 2004, along with forward-looking commentary on the retail industry and upcoming business trends for the holiday season and beyond. Moneris Solutions and J.C. Williams Group will host a conference call at 1:00 pm EST today to present a summary of the findings from the Q3 2004 edition of Retail Essentials and outlook for the upcoming holiday season. The event is open to financial analysts, members of the retail community and media.
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