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ICSC Chain Store Sales Dn 2.3% In Jan 10 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index decreased 2.3% in the week to January 10 from its level a week before, on a seasonally-adjusted, comparable store basis. On a year-on-year basis, retailers saw sales decline by 2.2% in the latest week, as consumers complete holiday gift purchases at a slower pace than last year.
"A seasonal weakening in traffic, less gift-card redemption and adverse weather all came together to weaken demand sharply for the first full week of 2009," said Michael P. Niemira, ICSC chief economist. The weekly result Tuesday followed a 1.4% increase in the prior week and a 1.5% fall in the week before that.
Posted: January 13, 2009 Tuesday 07:45 AM