WASHINGTON (MNI) – The following is the commentary from the
ICSC-Goldman Sachs Weekly Chain Store Sales Snapshot released Tuesday:
After last week’s solid sales increase retailers got back on their
rollercoaster ride as weekly sales declined this past week. Overall,
for the week ending February 12, retail sales declined by 1.4 percent on
a weekly basis, according to the ICSC-Goldman Sachs Weekly Chain Store
Sales Index. Despite the weekly decline, sales on a year-over-year
basis continued to remain positive and rose by 2.7 percent.
“Though the demand for grocery items strengthened this past week,
the overall results were mixed amongst retailers around the country,”
said Michael Niemira, ICSC vice president of research and chief
economist. “The good news is that the year-over-year results continue
to improve and increase proving that the fundamentals are in place and
providing a positive outlook for the coming weeks and months,” Niemira
added.
For February, ICSC Research believes that consumer fundamental
remain intake and anticipates an overall comparable industry sales gain
of between 2.5 to 3.0 percent. In observance of Presidents Day, this
report will be release on Wednesday, February 23, 2011.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDT$,MAUDS$,M$U$$$]