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ICSC Chain Store Sales rose 0.4% in Dec 12 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index rose 0.4% 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 rose 2.4%.
The jump came as consumers started to make their final shopping push for the 2009 holiday season, and Hanukkah came earlier this year than last. "But with consumers still behind last year's holiday-gift buying completion rate, the industry is poised to have a bigger last-minute surge in holiday-gift buying this year," said ICSC chief economist Michael Niemira. Meanwhile, the group still expects December same-store sales to rise about 2% from last year. That follows an unexpectedly weak November.
Posted: December 15, 2009 Tuesday 07:45 AM