WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Mother Nature provided the blast of cold air that retailers sorely
needed this past week. As a result weekly retail sales rose by 1.3
percent — the strongest week-over-week pace since mid July, according
to the ICSC-Goldman Sachs Weekly Chain Store Sales Index. On a
year-over-year basis, retail sales gained momentum and rose by 3.4
percent. This was the strongest year-over-year gain since last
September.
“Retailers were aided by a blast of cold temperatures over the last
week — especially in the East and South — which lifted the demand for
fall and winter merchandise,” said Michael Niemira, ICSC director of
research and chief economist. “The past week got the month off to a
strong start. For November, ICSC Research anticipates that
year-over-year comparable-store sales growth will increase by 3.0 to 4.0
percent, industry-wide, as more favorable weather and the start of the
2010 holiday shopping season takes hold,” Niemira added.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
