Research >> Economics
ICSC Chain Store Sales rose modestly by 0.1% in Jan 28 Wk
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The fiscal month of January ended on a mixed note for retailers as retail sales rose marginally on a week-over-week basis. For the week ending January 28, 2012, weekly retail sales rose modestly by 0.1%, according to International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. However, on a year-over-year basis, retail sales rose sharply by 3.9% to end the fiscal month which was lifted by a weather-depressed sales performance during the same week of 2011.
"With the fiscal month and year coming to a close this past week, retail sales once again showed how much sales patterns can shift, especially in January, said Michael Niemira, ICSC vice president of research and chief economist. "The good news is that sales on a year-over-year basis continue to show strength, which is a positive sign as the industry moves into the new fiscal year beginning this week," added Niemira.
For January, ICSC Research anticipates January comparable-store sales for the retail industry will increase by 2.0% to 3.0% on a year-over-year basis when retailers released their monthly sales figures on Thursday, February 2, 2012.
Posted: January 31, 2012 Tuesday 07:45 AM