Research >> Economics
ICSC Chain Store Sales increased 2.2% in Feb 5 Wk
Despite the continuation of weather woes throughout the country, retailers were finally able to post a solid sales increase this past week. As a result, for the week ending February 5, sales increased by 2.2 percent on a weekly basis, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. In addition to the weekly sales increase, sales on a year-over-year basis rebounded and rose by 2.5 percent.
“Weather continued to play havoc with retailers this past week,” Michael Niemira, ICSC vice president of research and chief economist. “Despite the challenges, retailers were able to post a solid sales increase for the first time in four weeks,” Niemira added.
For February, ICSC Research believes that consumer fundamental remain solid and anticipates an overall comparable industry sales gain of between 2.5 to 3.0 percent.
Posted: February 8, 2011 Tuesday 07:45 AM