U.S. chain-store sales rose by 2.8 percent year on year for the week that ended on October 8, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Weekly retail sales, however, slipped by 0.1 percent.
''This past week featured a mixture of results as customer traffic weakened at discounters and department stores, but was steady at apparel specialty stores,'' said Michael Niemira, ICSC's vice president of research and chief economist. ''In addition, for the nation, weather was warmer than last year, but cooler in the West thus aiding in the soft results this past week," added Niemira.
For the month of October, ICSC Research anticipates that the industry comparable-store sales will increase by as much as 5 percent year on year given easy comparisons with October 2010.
-Rapaport
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