US DATA: ICSC says “Despite a strong posting for the week of Black Friday, U.S.
chain-store sales had a modest 1.7% (excluding drug stores) gain for the fiscal
month of November* on a year-over-year basis according to the International
Council of Shopping Centers (ICSC). Three factors were responsible for the below
plan performance,” said Michael P. Niemira, vice president of research and
chief economist for ICSC. “First, the impact of Superstorm Sandy on the
first two weeks of the fiscal month; second, online sales made during the final
week of the month actually will be booked during December’s fiscal month once
the items are shipped; and third, the strength of lay-away purchases during
November which also will be booked in December once the full-payments are made.”