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U.S. Chain-Store Sales +3%

Oct 22, 2013 8:21 AM   By Jeff Miller
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RAPAPORT... U.S. chain-store sales rose 3.2 percent year on year for the week that ended on October 19, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. On a weekly basis, comparable-store sales rose 1.4 percent.

“As the federal government shutdown came to an end, consumers were seemingly back in a mood to shop,” said Michael Niemira, ICSC's vice president of research and chief economist. “The shopping environment was helped by cold weather in the West and the Columbus Day holiday as catalysts for spending, but the ICSC-Goldman Sachs consumer channel-checking survey suggested that demand was very uneven by store type.”

ICSC Research anticipates that October's chain-store sales, excluding drugstores, will increase by between 3 percent and 4 percent.  The weekly chain-store sales snapshot is produced by ICSC and Goldman Sachs to measure U.S. nominal same-store, or comparable-store, sales while excluding restaurant and vehicle demand. The weekly sales index is presented on an adjusted basis to account for normal seasonal and other data anomalies. 

Tags: chain-stores, Goldman Sachs, ICSC, Jeff Miller, retail
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