WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
Mixed weather patterns throughout the U.S. weakened consumer demand
this past week and resulted in weekly retail sales slipping for the
nation’s retailers. Overall for the week ending January 21, 2012,
weekly retail sales declined by 1.4 percent, according to International
Council of Shopping Centers (ICSC) and Goldman Sachs Weekly Chain Store
Sales Index. On a year-over-year basis retail sales held relatively
steady at 2.8 percent.
“From the Northwest to the Northeast strong winter storms affected
consumer demand this past week as it limited consumers’ ability to
shop,” said Michael Niemira, ICSC vice president of research and chief
economist. “In addition to the mixed weather patterns, January is
traditionally a low-seasonal sales month for retailers so that pattern
tends to produce more volatility from week to week than in other months.
The good news is that the year-over-year results are holding relatively
steady and remain positive,” added Niemira.
For January, ICSC Research anticipates January comparable-store
sales for the retail industry will increase by 2.0 to 3.0 percent on a
year-over-year basis to finish the fiscal year.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]
