U.S. weekly chain-store sales rose 3.7 percent year on year, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. For the week that ended on October 1, however, weekly retail sales rose just 0.1 percent against the previous week. The pace of growth has remained fairly constant since the second quarter of 2011.''Receding gasoline prices are one of the few bright spots which helped to improve the consumer's discretionary purchasing power and likely helped support the small week-on-week gain,'' said Michael Niemira, ICSC's vice president of research and chief economist. ''For the month, same-store sales growth seemingly improved for some middle-tier retailers, but overall performance was not too different from the prior month," added Niemira.
ICSC Research anticipates that the industry comparable-store sales pace will likely post an increase near 3 percent, excluding the impact of fuel, when retailers reported their monthly same-store sales results on October 6.
- Rapaport
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