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ICSC Chain Store Sales dipped 0.1% in Nov 7 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index dipped 0.1% in the week ended Saturday from its level a week before on a seasonally adjusted, comparable-store basis. On a year-on-year basis, the reading climbed 2.9% amid eaiser sales comparisons.
ICSC chief economist Michael P. Niemira said consumers aren't in a holiday frame of mind, with a survey showing more shoppers expect to start their holiday shopping on the day following Thanksgiving--the newly dubbed 'Bargain Friday'--than in any recent year. After last year's 7.7% tumble, ISCS expects November same-store sales up 5% to 8%, but right now sales are tracking under that easy-comparison inflated pace.
Posted: November 10, 2009 Tuesday 07:45 AM