With Sales Views Up, Retailers Look Forward To Jolly Holiday Season Momentum Began In July Tax refunds, mortgage refinancings are making shoppers happy to spend.(A)

Byline: MARILYN MUCH

The calendar may say it's October, but for retailers, the holiday season is here.

Neiman Marcus Group this week mailed out its glitzy 2003 Christmas catalog. At stores in midtown Manhattan, shelves bulge with new fall and winter wares, home furnishings and electronics.

And when holiday shopping moves into full swing next month, stores will roll out even more goods to put consumers in a gift-buying mood. Buoyed by healthy consumer spending, retailers should fare well, watchers say.

Though consumer confidence has waned recently, the lower federal income tax withholding rates, tax refund checks and the home refinancing frenzy have lifted consumer buying power. In August, U.S. personal income rose by 0.2% from July, says the Commerce Department. Personal spending grew a healthy 0.8%.

"We saw the tax rebate helping in August, with people using it for shopping," said Tom Williams, a spokesman for Wal-Mart Stores, the biggest chain.

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