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ICSC Chain Store Sales Up 0.6% In Feb 21 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index increased 0.6% in the week to Feb 21 from its level a week before, on a seasonally-adjusted, comparable store basis. On a year-on-year basis, retailers saw sales decline by 0.8% in the latest week.
"Sales improved again this past week and extended its non-negative trend to four weeks - a welcome sign for retailers," said Michael P. Niemira, ICSC chief economist. "Although retail-sector conditions continue to be weak, the message appears to be that consumer spending is just not as weak as in recent months." The weekly result Tuesday followed 0.9% increase in the prior week and an unchanged reading in the week before that.
Posted: February 24, 2009 Tuesday 07:45 AM