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ICSC Chain Store Sales rose 0.3% in Oct 3 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index rose 0.3% in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis. "A bout of cooler weather helped to spur customer traffic, especially at department stores and discounters, and helped the month to finish on a positive note," said Michael P. Niemira, ICSC chief economist.
The group expects retailers to report a 2% drop in same-store sales when the industry discloses its September results later this week. But Niemira said the decline could end up being narrower than that with the late-month improvement. The results exclude Wal-Mart Stores Inc. (WMT), which earlier this year stopped reporting same-store-sales figures. On a year-on-year basis, retailers saw sales rise 1% in the latest week
Posted: October 6, 2009 Tuesday 07:45 AM