December's same-store sales were the best of 2009, allowing a better-than-expected holiday season and serving as a first step toward retail business snapping back solidly this year, a retail trade group said.

The 2.8% year-over-year comparable-store increase posted by 32 retailers tracked by the International Council of Shopping Centers, or ICSC, was their best monthly advance since April 2008.

While the trade group sees January sales coming in flat or up 1%, conditions will improve and 2010 will end up showing a 3% to 3.5% increase in comparable-store sales, the ICSC said. That would be the best gain since a 4.8% rise for 2006.

The holiday season, which started at the beginning of November, saw slow-going initially, but spending picked up to allow the two-month season to post a comparable-store gain of 1.8%, better than the ICSC's expectation for a 1% advance.

Retailers certainly are feeling better after weathering the holidays, with estimates for the fourth quarter lifted by nearly one quarter, or 7, of the 30 stores that reported comparable-store sales on Thursday, said Thomson Reuters. The group includes Macy's Inc. (M), Target Corp. (TGT), Limited Brands Inc. (LTD) and Kohl's Corp. (KSS).

All told, 75% of the 30 retailers that reported same-store sales beat analysts' expectations, Thomson Reuters said. This was the largest number since 79% exceeded projections in March 2007.

Higher-end department stores, which have struggled the most among retailers during the recession, even performed well, with Nordstrom Inc. (JWN), Saks Inc. (SKS) and Neiman Marcus all beating solidly.

-By Karen Talley, Dow Jones Newswires; 212-416-2196; karen.talley@dowjones.com
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