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Better-than-expected retail sales growth in September is further boosting UBS’ growing optimism in the U.S. advertising market outlook.
Analyst Michael Morris said in a report this week that the “modestly better retail environment may embolden ad buyers.”
On Thursday, big retailers posted same-store sales figures for September, which rose 1.1% according to an index of key firms compiled by research firm Retail Metrics. Morris highlighted that this is the first gain in 13 months.
“Healthier retail sales will encourage retailers to increase advertising to compete for share of still shaky demand,” he said.
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