WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Like last month weekly retail sales are once again on a
rollercoaster ride as retailers saw their sales slip this past week
after last weeks recovery. According to the ICSC and Goldman Sachs
Weekly Chain Store Sales Index slipped by 0.7 percent for the week
ending October 16, 2010. On a year-over-year basis, retail sales
remained positive but slowed to 1.7 percent.
“National temperatures soared relative to last year and its
historical record making it the warmest comparable week in 15 years,
which unfortunately was not good news for retailers selling seasonal
goods. As such demand dipped from the prior week and on a
year-over-year basis,” said Michael Niemira, ICSC director of research
and chief economist. “For the fiscal month of October, ICSC Research
anticipates that year-over-year comparable-store sales growth will
increase about 2.5 percent, industry-wide,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
