Research >> Economics
ICSC Chain Store Sales improved 0.1% in Nov 16 Wk
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U.S. chain-store sales rose 2.8 percent year on year for the week that ended on November 16, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Week-to-week comparable-store sales improved 0.1 percent.
“The consumer seemed to take advantage of the Veteran’s Day holiday and week more so than last year to shop and spend," said Michael Niemira, ICSC's vice president of research and chief economist. “The ICSC-Goldman Sachs consumer channel checking survey found strong demand across most retail segments and very strong gains for department stores, apparel stores, discounters and wholesale clubs, in particular."
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 19, 2013 Tuesday 07:45 AM