WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Retailers breathed a sigh of relief as the first full fiscal week
of October brought recovery to retail sales as weekly retail sales
rebounded. As a result, for the week ending October 9, weekly chain
store sales rebounded and rose by 0.8 percent, according to the ICSC and
Goldman Sachs Weekly Chain Store Sales Index. On a year-over-year
basis, retail sales remained positive and improved to 2.6 percent.
“The pace of sales over this past week was relatively steady with
recent year-over-year trends,” said Michael Niemira, ICSC director of
research and chief economist. “Unfortunately, weather continues to be a
drag on demand for fall merchandise and it is expected to remain so for
the remainder of this month. For the fiscal month of October, ICSC
Research anticipates that year-over-year comparable-store sales growth
will increase in the 2.5 to 3.0 percent range,industry-wide,” Niemira
added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
