Big Retailers Expect Best Holiday Since 2007

The nation’s biggest retailers are predicting a 3.7 percent increase in comp sales this holiday season—which would make it the best Christmas since 2007, according to a survey of chief marketing officers by BDO USA.

In 2007, the CMOs predicted a 5 percent comp sales gain.

On a non-comp basis, the CMOs foresee a 4.7 percent jump—somewhat higher than other predictions.

A majority—56 percent—predict an increase in holiday sales, up from 41 percent in 2011.

“While we haven’t returned to prerecession levels of optimism, retailers are gearing up for what looks to be a promising holiday season,” said Doug Hart, partner in the Retail and Consumer Product Practice at BDO USA, in a statement.   

The survey questioned the opinions of 100 chief marketing officers at top retailers across the country.

Still, the retailers continue to worry about jobs; 55 percent of the CMOs say unemployment is the biggest issue that could affect holiday sales.