Research >> Economics
ICSC Chain Store Sales rose 2.6% in Nov 23 Wk
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U.S. chain-store sales rose 2.1 percent year on year for the week that ended on November 23, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a weekly basis, same-store sales rose 2.6 percent, the strongest gain in quite some time.
“Demand was mixed this past week with stronger discounter and dollar store business, and softer drug, office and apparel store business," said Michael Niemira, ICSC's vice president of research and chief economist. “With more consumers likely to shop during the Thanksgiving week than in the past year, much of the month’s performance will be dependent on how business is during Black Friday and over the course of the weekend.”
ICSC Research anticipates that November's chain-store sales will reflect an increase of 3.5 percent to 4.5 percent, in large part due to an easy year-on-year comparison. 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: November 26, 2013 Tuesday 07:45 AM