Research >> Economics
ICSC Chain Store Sales slipped 0.3% in Feb 8 Wk
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U.S. chain-store sales rose 2.3 percent year on year for the week that ended on February 8, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, weekly comparable-store sales slipped 0.3 percent.
“February came in like a lion with multiple winter storms affecting various parts of the country last week,” said Michael Niemira, ICSC's vice president of research and chief economist. “But despite that constraint, the ICSC‐GS consumer tracking survey found considerable improvement in apparel‐specialty stores, wholesale clubs and furniture stores, while department, drug, office supply, electronics and other specialty stores had moderate gains.”
ICSC Research anticipates that February's chain-store sales will increase by between 3 percent and 3.5 percent. The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure nominal U.S. 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: February 11, 2014 Tuesday 07:45 AM