US DATA: ICSC chain-store sales rose by 3.2% on a year-over-year
basis according to the International Council of Shopping Centers (ICSC).
The fiscal year-to-date sales pace continues to show strength with
growth of 4.9%. During November the nation’s major retail chains
experienced a slowdown in the overall pace of spending and it was across
the board,” said Michael P. Niemira, vice president of research and
chief economist for ICSC. “However, three factors seemingly contributed
to the softer year-over-year performance: (1)Tougher comparison with the
November 2010 gain (which was up 5.4% in November 2010); (2) Increased
discounting at some apparel specialty stores for the Black Friday sales
over last year; and (3) Less favorable weather that pared the purchase
of seasonal goods — most likely for oneself and not a holiday gift.”