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ICSC Chain Store Sales Down 1.8% In Jan 24 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index declined 1.8% in the week to January 24 from its level a week before, on a seasonally-adjusted, comparable store basis. On a year-on-year basis, retailers saw sales decline by 2.4% in the latest week - the seventh consecutive slide.
"Despite the modestly positive sales influences which came from sales over Martin Luther King Jr. weekend, the presidential inauguration kept consumers home watching television coverage rather than in stores," said Michael P. Niemira, ICSC chief economist. "As a result, weekly sales slipped sharply." The weekly result Tuesday followed a 1.1% rise in the prior week and a 2.3% decline in the week before that.
Posted: January 27, 2009 Tuesday 07:45 AM