Research >> Economics
ICSC Chain Store Sales rose 0.2% in Jan 25 Wk
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Mother Nature once again roared this past week causing unevenness in sales results within the industry. As a result, weekly sales rose by a slight 0.2% ending January 25, 2014, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year basis, however, the pace of sales gained momentum and rose by a solid 2.2%.
"The latest week's sales were battered by abnormally warm temperatures in the West and bitter cold and snow in the East," said Michael Niemira, ICSC vice president of research and chief economist. "Although the regional unevenness was present due to the weather, most sectors were flat with or above last year's business-especially for wholesale clubs, electronics, office and other specialty stores (such as sporting goods, books, jewelry, etc.)," added Niemira.
Due to the impact of weather on sales in the East, ICSC Research is scaling back its monthly forecast for January to about 3.0% from between 3.0% and 3.5%.
Posted: January 28, 2014 Tuesday 07:45 AM