Research >> Economics
ICSC Chain Store Sales up 0.3% in Oct 23 Wk
The weekly roller coaster pattern facing retailers this October continued as retail sales were on the upswing and improved slightly this past week. Overall for the week ending October 23, 2010, sales rose by 0.3 percent, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail sales momentum has remained sluggish, but rose by 1.9 percent.
“Seasonally warm weather continues to curb the consumer appetite for fall merchandise and puts the October performance on a slow track,” said Michael Niemira, ICSC director of research and chief economist. “October continues to be an up and down month for retailers. As such, ICSC Research now anticipates that year-over-year comparable-store sales growth will increase by 2.0 to 2.5 percent, industry-wide for the month,” Niemira added
Posted: October 26, 2010 Tuesday 07:45 AM