Chain Store Sales Edge Higher, Weather Hurts

New York, NY, Jan. 20, 2011 -- U.S. weekly chain-store sales rose 1.4% last week compared to a year ago, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs.

However, Redbook research reported that chain store sales rose 2.5%.

The week to week change in comparable store sales was basically flat, according to ICSC.

“Last week’s disruptive weather once again accentuated the weakness in sales,” said Michael Niemira, ICSC vice president of research and chief economist.

“Since January is a low-volume month for sales and more susceptible to weather impacts and other volatility, the recent weakness is not very meaningful—even though the month is shaping up softer than recent trends,” Niemira added.  

For January, ICSC Research expects the pace of retail sales will be subdued with overall chain-store sales increasing by about 2.5%.