Chain Store Sales Edge Higher

New York, NY, Nov. 3, 2009--Weekly chain store sales across the U.S. inched 1.9 percent higher for the period ending Oct. 31, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.

Week-to-week sales comparisons were flat. ICSC noted that sales softened a bit as October came to an end. The group will report monthly sales comparisons for October on November 5.

“Sales momentum slowed at the end of the fiscal month of October as weather turned warmer and wetter,” said Michael P. Niemira, ICSC chief economist.

“However, for the month, as a whole, sales performed reasonably well and were helped by favorable weather and easy sales comparisons.  For the month ICSC Research expects the pace of industry sales will be flat to up about 1 percent,” Niemira added.

Also, national chain store sales rose 1.9 percent in the four weeks of October versus the previous month, according to Redbook Research's latest indicator of national retail sales.