Research >> Economics
ICSC Chain Store Sales up 1.3% in Nov 6 Wk
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Mother Nature provided the blast of cold air that retailers sorely needed this past week. As a result weekly retail sales rose by 1.3 percent — the strongest week-over-week pace since mid July, according to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, retail sales gained momentum and rose by 3.4 percent. This was the strongest year-over-year gain since last September.
“Retailers were aided by a blast of cold temperatures over the last week — especially in the East and South — which lifted the demand for fall and winter merchandise,” said Michael Niemira, ICSC director of research and chief economist. “The past week got the month off to a strong start. For November, ICSC Research anticipates that year-over-year comparable-store sales growth will increase by 3.0 to 4.0 percent, industry-wide, as more favorable weather and the start of the 2010 holiday shopping season takes hold,” Niemira added.
Posted: November 9, 2010 Tuesday 07:45 AM