SHUBHNEWS

U.S. sales rose 1.5 percent on year for the week that ended on December 7, according to the International Council of Shopping Centers and Goldman Sachs. However, in a more telling sign of shifting consumer spending trends, week-to-week comparable-store sales slipped 1.6 percent, even with a shortened Christmas spending season.

Matthew Girling, Bonhams CEO for the U.K. and Europe, said, "Bonhams is honored to have been chosen by Barbara Taylor Bradford to auction her very personal collection of jewelry and we are delighted with the success of the sale.

IBIS World Inc. predicts a slow growth U.S. Christmas spending season and expects retail sales to increase 3.4 percent year on year to $68.9 billion. Christmas and seasonal gifts represent the largest household expenditure, representing 77.3 percent of holiday spending at $53.3 billion, according to the group.