Research >> Economics
ICSC Chain Store Sales decreased 1.4% in Feb 12 Wk
After last week’s solid sales increase retailers got back on their rollercoaster ride as weekly sales declined this past week. Overall, for the week ending February 12, retail sales declined by 1.4 percent on a weekly basis, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. Despite the weekly decline, sales on a year-over-year basis continued to remain positive and rose by 2.7 percent.
“Though the demand for grocery items strengthened this past week, the overall results were mixed amongst retailers around the country,” said Michael Niemira, ICSC vice president of research and chief economist. “The good news is that the year-over-year results continue to improve and increase proving that the fundamentals are in place and providing a positive outlook for the coming weeks and months,” Niemira added.
For February, ICSC Research believes that consumer fundamental remain intake and anticipates an overall comparable industry sales gain of between 2.5 to 3.0 percent. In observance of Presidents Day, this report will be release on Wednesday, February 23, 2011.
Posted: February 15, 2011 Tuesday 07:45 AM