NEW YORK (MNI) – The following is the International Council of
Shopping Centers analysis of the same-store sales results for November,
published Thursday:
U.S. chain-store sales rose by 3.2% on a year-over-year basis
according to the International Council of Shopping Centers (ICSC). The
fiscal year-to-date sales pace continues to show strength with growth of
4.9%.
“During November the nation’s major retail chains experienced a
slowdown in the overall pace of spending and it was across the board,”
said Michael P. Niemira, vice president of research and chief economist
for ICSC. “However, three factors seemingly contributed to the softer
year-over-year performance: (1)Tougher comparison with the November 2010
gain (which was up 5.4% in November 2010); (2) Increased discounting at
some apparel specialty stores for the Black Friday sales over last year;
and (3) Less favorable weather that pared the purchase of seasonal goods
— most likely for oneself and not a holiday gift,” added Niemira.
Looking ahead to December sales, ICSC expects that same-store sales
growth will rise by 3.5% to 4.0% for a season average of approximately
3.5%.
** Market News International New York Newsroom: 212-669-6430 **
[TOPICS: MAUDS$,M$U$$$]
