WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
Retailers got off to a soft start for the first fiscal week of
October as a combination of influences – weaker consumer traffic and
mixed weather results – led to a soft week of sales results. As a
result, for the week ending October 8, weekly retail sales slipped
slightly by 0.1 percent. On a year-over-year basis, retail sales also
slowed (2.8%) but continue to remain positive.
“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 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 October, ICSC Research anticipates that the industry
comparable-store sales pace will continue as it has over the last few
months and post an increase of about 5.0 percent overall as the industry
faces an “easy comparison” with October 2010.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
