WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
Despite the continuation of weather woes throughout the country,
retailers were finally able to post a solid sales increase this past
week. As a result, for the week ending February 5, sales increased by
2.2 percent on a weekly basis, according to the ICSC-Goldman Sachs
Weekly Chain Store Sales Index. In addition to the weekly sales
increase, sales on a year-over-year basis rebounded and rose by 2.5
“Weather continued to play havoc with retailers this past week,”
Michael Niemira, ICSC vice president of research and chief economist.
“Despite the challenges, retailers were able to post a solid sales
increase for the first time in four weeks,” Niemira added.
For February, ICSC Research believes that consumer fundamental
remain solid and anticipates an overall comparable industry sales gain
of between 2.5 to 3.0 percent.
** Market News International Washington Bureau: 202-371-2121 **