Chain Store Sales Edge Higher in October

New York, NY, Nov. 5, 2010 -- U.S. chain-store sales rose 1.6% year-over-year in October, according to the International Council of Shopping Centers.

The figure was slightly below previous growth predictions of 2% to 2.5%.

"Sales performance for the month was sluggish as warmer-than-normal weather curbed demand for fall merchandise," said Michael P. Niemira, chief economist and director of research for ICSC.

"Overall, we figure that industry sales were depressed in October by about one percentage point due to the warm weather. The good news on the weather front is that November should be a colder month, which will likely be a catalyst to unleash demand for winter apparel and other seasonal items," Niemira added.

ICSC Research is forecasting November sales gains at the chains of 3% to 4% on a comparable store basis.