WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
Sales volatility returned once again as retailers saw their weekly
sales slip after last week’s increase. As a result for the week ending
September 17, weekly retail sales dipped by 1.2 percent, according to
the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a
year-over-year basis, however, retail sales improved and rose by 3.4
percent.
“Sales volatility returned to the retail landscape as discounters
appeared to have lost some business while the cold seasonal weather
benefited department stores and lifted seasonal merchandise,” said
Michael Niemira, ICSC vice president of research and chief economist.
For September, ICSC Research anticipates that the industry
comparable-store sales pace will likely fully recover its momentum to
yield an increase of between 4.0 to 5.0 percent and by 3.0 to 4.0
percent, excluding the impact of fuel.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
