Research >> Economics
ICSC Chain Store Sales increased 0.1% in Oct 15 Wk
|
After last weeks slow start for the fiscal month, weekly retail sales gained some momentum and rose as discounters drove sales for the week. Overall weekly retail sales rose by 0.1 percent for the week ending October 15, according to International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail sales also showed improvement and rose by 3.6 percent.
“Sales picked up over the past week as discounter business accelerated helping to drive sales overall,” said Michael Niemira, ICSC vice president of research and chief economist. “Though the week-over-week pace was just a slight improvement, the good news is that the year-over-year sales pace showed a strong improvement and continues to remain positive as we head towards the middle of the fiscal month,” added Niemira.
For October, ICSC Research anticipates that the industry comparable-store sales pace will continue as it has over the last few months and post an increase of about 5.0 percent overall as the industry faces an “easy comparison” with October 2010.
Posted: October 18, 2011 Tuesday 07:45 AM