US ICSC: Weather The Primary Factor In Off The Pace Oct Sales

NEW YORK (MNI) – The following is the International Council of
Shopping Centers analysis of the same-store sales results for October,
published Thursday:

U.S. chain-store sales rose by 3.7% on a year-over-year basis
according to the International Council of Shopping Centers (ICSC). The
overall sales pace for the year continues to show strength with a fiscal
YTD pace of 5.1%.

“October sales were, to a degree, off of the fiscal YTD pace due to
a special host of factors,” said Michael P. Niemira, vice president of
research and chief economist for ICSC. “Of which a primary one was
weather, as unseasonably warm temperatures in the beginning of the month
curbed demand for cold-weather apparel, and a snowstorm in the Northeast
and Mid-Atlantic states at the end of the month negatively impacted
traffic.”

ICSC expects that November sales will increase between 3.5% – 4.0%.

** Market News International New York Newsroom: 212-669-6430 **

[TOPICS: MAUDS$,M$U$$$]