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ICSC Chain Store Sales fell 2.5% in Jan 23 Wk
The International Council of Shopping Centers and Goldman Sachs Retail Chain Store Sales Index fell 2.5% in the week ended Saturday from the week before on a seasonally adjusted, comparable-store basis. The drop continues the trend of January volatility that can be affected by small swings because of low sales volumes, ICSC said.
Small shifts due to weather or inventory or other factors can amplify the weekly sales pace, ICSC chief economist Michael Niemira said. This has been the case over the last four weeks, with wide swings on a week-over-week basis.
Last week, ICSC said consumers were continuing to look for deals after the holidays. Niemira also reiterated that January industrywide comparable-store sales are likely to be flat to up 1%. On a year-on-year basis, the reading rose 1.9% last week.
Posted: January 26, 2010 Tuesday 07:45 AM