WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released
Tuesday:
Despite the slightly cooler temperatures across the nation last
week, which can often be marginally beneficial to retailers, sales
slipped by 0.8% from the prior week according to the International
Council of Shopping Centers (ICSC) and Goldman Sachs (GS) Weekly Chain
Store Sales Index. Customer traffic led the softness with a dip in
shopping across most store types and shopping venues, according to the
ICSC-GS channel-checking survey for the week. On a year over-year basis
sales slowed, but remained positive increasing by 2.4%.
For the month of October, ICSC Research still anticipates that the
industry comparable-store sales pace will continue as it has over the
last few months and post an increase of about 5.0 percent overall.
“It seems that last week was a lull in the spending cycle with few
catalysts to spur demand,” said Michael Niemira, ICSC vice president of
research and chief economist. “However, with Halloween just around the
corner, sales are likely to finish the month on a stronger note.”
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]