Chain Store Sales Higher Than Last Year

New York, NY, Dec. 9, 2008--Chain-store sales for the week ended Dec. 6 rose 0.4% from the year-ago period, according to a survey released Tuesday by the International Council of Shopping Centers and Goldman Sachs.

On a week-over-week basis, sales fell 0.8%.

"Over the last week, the completion rate of holiday gift-buying fell behind last year and with it holiday spending," said Michael Niemira, ICSC's chief economist.

"The tough economic and retail environment, which continued into early December, is likely to dominate the full month's sales performance as well."

 ICSC expects monthly same-store sales for December will be flat to up 1%, with late holiday shopping driving the month's overall performance.