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ICSC Chain Store Sales Up 0.6% In Dec 13 Week
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index increased 0.61% in the week to December 13 from its level a week before, on a seasonally-adjusted, comparable store basis. On a year-on-year basis, retailers saw sales decline by 0.4% in the latest week, as consumers complete holiday gift purchases at a slower pace than last year.
"Consumers again are dragging their feet on holiday gift buying this year," said Michael P. Niemira, ICSC chief economist. "This pattern of procrastination when it comes to holiday shopping is increasingly more visible in recent years." He added that U.S. economic woes is another factor in the weak in sales numbers. The weekly result Tuesday followed a 0.8% decline in the prior week and a 0.1% rise in the week before that.
Posted: December 16, 2008 Tuesday 07:16 AM