WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
The fiscal month of January ended on a mixed note for retailers as
retail sales rose marginally on a week-over-week basis. For the week
ending January 28, 2012, weekly retail sales rose modestly by 0.1%,
according to International Council of Shopping Centers (ICSC) and
Goldman Sachs Weekly Chain Store Sales Index. However, on a
year-over-year basis, retail sales rose sharply by 3.9% to end the
fiscal month which was lifted by a weather-depressed sales performance
during the same week of 2011.
“With the fiscal month and year coming to a close this past week,
retail sales once again showed how much sales patterns can shift,
especially in January, said Michael Niemira, ICSC vice president of
research and chief economist. “The good news is that sales on a
year-over-year basis continue to show strength, which is a positive sign
as the industry moves into the new fiscal year beginning this week,”
added Niemira.
For January, ICSC Research anticipates January comparable-store
sales for the retail industry will increase by 2.0% to 3.0% on a
year-over-year basis when retailers released their monthly sales figures
on Thursday, February 2, 2012.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]