Research >> Economics
ICSC Chain Store Sales declined 1.6% in Sept 14 Wk
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U.S. chain-store sales rose 3.2 percent year on year for the week that ended on September 14, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, weekly comparable-store sales declined 1.6 percent as consumers held back on spending, ICSC concluded.
“The industry’s sales performance during this past week essentially reversed last week’s positive sales jump,” said Michael Niemira, ICSC's vice president of research and chief economist. “However, despite that volatility, business was stronger in a number of key segments —- drug, department, discount wholesale, electronics and specialty stores —- compared with the same week of the prior year.”
ICSC Research anticipates that comparable-store sales will improve by 4 percent in September. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies.
Posted: September 17, 2013 Tuesday 07:45 AM