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ICSC Chain Store Sales dropped 1.3% in Dec 5 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 1.3% in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis. On a year-on-year basis, the reading rose 2.6%.
The weekly decline came following the annual post-Thanksgiving shopping surge. Amid that lull, ICSC chief economist Michael P. Niemira said shoppers remain "well behind on their holiday-gift buying completion pace."
Meanwhile, the group expects December same-store sales to rise about 2% from last year. That follows an unexpectedly weak November, with ICSC reporting on Thursday the industry saw a 0.3% decline for the month.
Posted: December 8, 2009 Tuesday 07:45 AM