Research >> Economics
ICSC Chain Store Sales rebounded 0.7% in Nov 10 Wk
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The ICSC‐Goldman Sachs (ICSC‐GS) chain store sales index for the week ending November 10 rebounded by 0.7% from the prior week as post‐hurricane Sandy restocking began. The ICSC‐GS consumer tracking survey found strong grocery‐store customer traffic over the past week relative to recent weeks. But still on a year‐over‐year basis, sales remained soft with a modest 1.8% pace for the latest period‐‐only marginally stronger than the prior week’s 1.4%.
According to Weather Trends, Inc. (WTI) a “fickle Nor’easter developed along the East coast at midweek and tracked north into New England” while “the West started out warm, but turned stormy.” The average nationwide temperature, according to WTI, was 0.3°F warmer than last year and 0.3°F above normal as well.
Nationwide gasoline prices at the pump continued to edge lower over the past week, according to the AAA Fuel Gauge survey and were the lowest since mid‐July. The ICSC‐GS holiday survey found that the average holiday gift completion rate was running just a tad below last year, but considerably higher than the 2008 and 2009 experience.
Posted: November 13, 2012 Tuesday 07:45 AM