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ICSC Chain Store Sales rose by 0.1% in Feb 23 Wk
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The ICSC-Goldman Sachs (ICSC-GS) chain store sales index for the week ending February 23, 2013 rose by 0.1% from its prior week's level and improved on a year-over-year basis to 2.9%--its strongest showing since the week ending January 19 (+3.2%). According to the ICSC-GS consumer tracking survey, the week's improvement was especially at department stores, apparel stores and wholesales clubs. Weather was unfavorable for spring seasonal items.
According to Weather Trends International, Inc.(WTI), the U.S. average nationwide temperature was 3.3°F colder than last year and 3.0°F colder than its long-term trend. WTI observed that it was another week of cold weather across most of the nation making this the fifth coldest third week of retail February in more than 22 years and the coldest in three years.
Mean while, the average price of a gallon of regular-grade gasoline continued its trek higher for the tenth-consecutive week .According to the U.S. Energy Information Administration, the U.S. average price of a gallon of regular grade gasoline was $3.784on February 25, 2013--up 3.7 cents from the prior week and a hefty 53 cents cumulatively over the past ten weeks.
Posted: February 26, 2013 Tuesday 07:45 AM