Research >> Economics
ICSC Chain Store Sales rose 0.9% in Jan 18 Wk
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U.S. chain-store sales rose 0.9 percent year on year for the week that ended on January 18, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, week-to-week comparable-store sales fell 1.9 percent as consumers curbed their desire to shop.
“Traditionally January is a clearance month for retailers; however, even with widespread sales incentives consumers held back their spending this past week,” said Michael Niemira, ICSC's vice president of research and chief economist. “As the industry heads into the final weeks of January and the fiscal year for most retailers, the snowstorm in the East will likely curb sales in the coming week.”
ICSC Research anticipates that January'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: January 22, 2014 Wednesday 07:45 AM