INSIDE VALLEY BUSINESS : After the Quake, Malls Pin Hopes on the Holidays

Many Valley shopping malls that escaped major earthquake damage are enjoying a 10% to 30% jump in sales over the same time last year. Now they hope for the best Christmas season in years, which is especially important because 40% of retailers’ sales come during the holiday season.

While some Valley malls are benefiting from pent-up consumer demand, layoffs in many industries continue to plague the region, warned John Golisch, chief retail consultant in Southern California for Arthur Andersen & Co. He wonders if the sales gains at some stores will last because they have come at the expense of closed malls and from an influx of earthquake assistance funds.

See Valley Business, page 4.